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2604 Bellevue Ave 24 Unit Apartment Building $1,750,000 ($72,917/Unit) 7.80% Cap Rate Saint Louis, MO 63143
INVESTMENT HIGHLIGHTS
- 24 Units | 12 - Studios & 12 - 1 Beds
- Below Market Rents
- Highly Walkable Location w/ Many Amenities Nearby
- Highly Sought After Maplewood Location
- One Block North of Manchester Avenue
EXECUTIVE SUMMARY
Salient Realty Group is pleased to present this incredible investment opportunity to own 24 units in the heart of Maplewood. This 24 unit complex is one block North of Manchester Avenue, home to all the amazing restaurants, bars, breweries, local shops and entertainment options that Maplewood is known for. Many locals agree that Maplewood is the most walkable neighborhood in all of St. Louis.
The property consists of two 12 unit side by side buildings with a mixture of studio and true 1 bedroom units. The buildings were completely renovated 10 years ago with updates over the last few years. The properties have newer roofs (TPO) within the last 3 years, new sewer, new windows, updated plumbing and electrical.
The property consists of two 12 unit side by side buildings with a mixture of studio and true 1 bedroom units. The buildings were completely renovated 10 years ago with updates over the last few years. The properties have newer roofs (TPO) within the last 3 years, new sewer, new windows, updated plumbing and electrical.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$211,600
|
$10.65
|
| Taxes |
$24,204
|
$1.22
|
| Operating Expenses |
$50,874
|
$2.56
|
| Total Expenses |
$75,078
|
$3.78
|
| Net Operating Income |
$136,522
|
$6.87
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $211,600 |
| Annual Per SF | $10.65 |
| Taxes | |
|---|---|
| Annual | $24,204 |
| Annual Per SF | $1.22 |
| Operating Expenses | |
|---|---|
| Annual | $50,874 |
| Annual Per SF | $2.56 |
| Total Expenses | |
|---|---|
| Annual | $75,078 |
| Annual Per SF | $3.78 |
| Net Operating Income | |
|---|---|
| Annual | $136,522 |
| Annual Per SF | $6.87 |
PROPERTY FACTS
| Price | $1,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $72,917 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Cap Rate | 7.80% | Building Size | 19,860 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2022 |
| Property Subtype | Apartment | Parking Ratio | 0.8/1,000 SF |
| Zoning | MR | ||
| Price | $1,750,000 |
| Price Per Unit | $72,917 |
| Sale Type | Investment |
| Cap Rate | 7.80% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 19,860 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2022 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | MR |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | $775.00 | 600 |
| 1+1 | 12 | $825.00 | 650 |
1 1
Walk Score®
Walker's Paradise (91)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 21J-61-0366 | Total Assessment | $433,810 (2025) |
| Land Assessment | $136,800 (2025) | Annual Taxes | $24,204 ($1.22/SF) |
| Improvements Assessment | $297,010 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
21J-61-0366
Land Assessment
$136,800 (2025)
Improvements Assessment
$297,010 (2025)
Total Assessment
$433,810 (2025)
Annual Taxes
$24,204 ($1.22/SF)
Tax Year
2024
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2604 Bellevue Ave
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