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3862-3866 S Spring Ave 18 Unit Apartment Building $1,195,000 ($66,389/Unit) 9.23% Cap Rate Saint Louis, MO 63116
Investment Highlights
- 18 Units Located in South City
- Value-Add Opportunity - below market rents
- 12 garages for off street parking income
- Updated Utility Systems
- Large side lot included
Executive Summary
Salient Realty Group is pleased to present 3862 S Spring Avenue, an 18-unit apartment complex located in South City. The property consists of twelve, 1 bed/1 bath and six, 2 bed/1 bath units. The property also has 12 garages and a large side lot that is included in the sale. It is positioned near major local employers and the Grand Boulevard corridor. The heavy-duty masonry construction and traditional St. Louis architecture provide a durable foundation for predictable maintenance. This neighborhood is known for its historic architecture and steady demand for rental housing. This asset represents a straightforward opportunity to enter or expand within the South City market.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,195,000 | Building Class | C |
| Price Per Unit | $66,389 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 15,312 SF |
| Cap Rate | 9.23% | Average Occupancy | 89% |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1931 |
| Property Subtype | Apartment | Parking Ratio | 0.78/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | B | ||
| Price | $1,195,000 |
| Price Per Unit | $66,389 |
| Sale Type | Investment |
| Cap Rate | 9.23% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 15,312 SF |
| Average Occupancy | 89% |
| No. Stories | 3 |
| Year Built | 1931 |
| Parking Ratio | 0.78/1,000 SF |
| Zoning | B |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
| 2+1 | 6 | - | 997 - 1,025 |
1 1
Walk Score®
Very Walkable (78)
Property Taxes
| Parcel Number | 4178-03-0120-0 | Improvements Assessment | $110,260 |
| Land Assessment | $9,080 | Total Assessment | $119,340 |
Property Taxes
Parcel Number
4178-03-0120-0
Land Assessment
$9,080
Improvements Assessment
$110,260
Total Assessment
$119,340
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3862-3866 S Spring Ave
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