Eden Apartments 8942 Eden Ave 8 Unit Apartment Building $1,150,000 ($143,750/Unit) 6.99% Cap Rate Affton, MO 63123

Located in the high-demand Affton submarket of South St. Louis County, 8942–8948 Eden Avenue presents a rare opportunity to acquire a stabilized, fully renovated 8-unit multifamily asset with strong upside potential. Each unit features two bedrooms and one bathroom, complemented by in-unit laundry, central HVAC, and updated finishes throughout. The property spans 6,864 square feet across two buildings on a 0.49-acre lot, with ample off-street parking for residents.
Current rents average $1,054 per unit, significantly below market rates of approximately $1,295, offering immediate value-add potential through rent adjustments. With all units leased and no deferred maintenance noted, the asset is well-positioned for both seasoned investors and new entrants seeking a turnkey multifamily investment.
Affton’s strong demographic profile includes an average household income of $83,361 within a one-mile radius and a population exceeding 293,000 within five miles. The property benefits from proximity to major retail corridors, including Watson Road and S. Laclede Station Road, with nearby anchors such as Schnucks, Walgreens, and QuikTrip. The surrounding area is a mix of residential neighborhoods, schools, and local businesses, enhancing tenant retention and long-term stability.
This offering combines location, renovation quality, and income growth potential in one of St. Louis County’s most sought-after submarkets.