This mixed-use building presents a prime opportunity for an investor or developer to transform a blank slate into a high-performing asset in the heart of South City. Priced at $425,000, the property has undergone significant improvements, including a large new deck and a three-car garage, but still requires plumbing, electrical updates, drywall, and finishing touches to reach its full potential. Notably, six units are already gutted and framed, making it well on its way to becoming a fully functional six-unit apartment building.
The building currently features three apartments on the upper level and three commercial spaces on the main level, which are ideal for conversion into additional apartments. Additionally, a large, open, unfinished attic offers even more potential for creative development. Located in a vibrant and rapidly redeveloping area, the property is surrounded by sought-after neighborhoods like Tower Grove East, Fox Park, and Benton Park West, all experiencing substantial revitalization. Its prime South City location provides easy access to public transportation, major thoroughfares, highways, and downtown St. Louis. Residents will enjoy proximity to a wealth of neighborhood shops, restaurants, and bars, adding to the area’s appeal.
With strong rental demand, 1-bedroom, 1-bath apartments in the area rent for over $1,000 per month. Comparable multi-family properties sell for over $100,000 per unit, underscoring the value and income-generating potential of this property. Whether you are an experienced developer or a savvy investor, 2648 Gravois offers a rare chance to create a high-demand residential asset in one of St. Louis’ most promising areas. Don’t miss this opportunity to capitalize on the growth and vibrancy of South City!
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Property Highlights:
Prime Location:
Located in The Grove, one of St. Louis’ most vibrant and growing neighborhoods, this property offers a rare opportunity to capitalize on the area’s ongoing revitalization. Surrounded by popular bars, restaurants, nightlife, major hospitals, SLU, Forest Park, and with convenient highway access.
Potential Uses:
Perfect for investors, developers, or owner-occupants seeking a strategic income-producing asset. Potential uses include offices, an event venue, a restaurant, conversion to multi family. Townhomes could be built on the vacant portion of the property or have off street parking.
Virtual Tour of the Building: https://my.matterport.com/show/?m=D6HABGVFRCk&mls=1
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Location & Neighborhood Highlights:
Property & Investment Highlights:
Features:
Rental Potential:
Virtual Unit Tours:
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Property Features:
Prime Location in The Grove:
Rental Income Potential:
Tenant Appeal:
Virtual Tours:
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This well-maintained apartment complex, built in 1989, features 10 buildings, including six four-family buildings, one triplex, and three duplexes. The property offers a total of 33 units, consisting of three 4-bedroom units, 24 3-bedroom units, and six 2-bedroom units. Each unit is all-electric with central air, thermal windows, and newer roofs.
Conveniently located near Highway 44 in a quiet cul-de-sac, the complex provides a peaceful living environment. Tenants are responsible for their own electric, water, and sewer utilities.
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14-unit building featuring 10 two-bedroom units and 4 one-bedroom units.
This property is an excellent income-generating investment opportunity. Located within the Festus city limits, it is conveniently within walking distance of a school and a daycare next door.
The building includes coin-operated washers and dryers, private storage units for each tenant in the basement, and an office with a bathroom for added functionality.
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This turnkey property features two buildings with a total of 24 units, located in a peaceful rural setting. The complex includes 12 one-bedroom units and 12 two-bedroom units, all equipped with central air and thermal windows. Residents enjoy the convenience of on-site coin-operated laundry, public sewer, and 36 parking spaces. The property fosters a strong sense of community with its playground, picnic area, and outdoor bonfire space. The roof and siding, both well-maintained, were updated 15 years ago.
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This 24-unit apartment complex, built in 1986, has been meticulously cared for over the years. It consists of two buildings featuring a total of 16 two-bedroom units and 8 one-bedroom units. Each apartment is equipped with baseboard heating and window air conditioning, providing reliable and efficient comfort for tenants.
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Sought-After Soulard Opportunity:
Two renovated duplexes in St. Louis’ vibrant Soulard neighborhood, surrounded by bars, restaurants, the iconic Soulard Farmers Market, and the renowned Mardi Gras parade. Steps from Goshen Coffee (best in Soulard!), Chavas, and more.
Modernized Units in Historic Charm:
These brick buildings feature renovated units with all new interiors; new stainless steel appliances, new flooring, new in-unit laundry, new cabinets, new countertops, and so on. Three of the four units span two floors, offering flexible and unique layouts. Unit sizes range from 760 to 1,235 square feet, including two 1-bed 1-bath units, one 2-bed 1-bath unit, and one 2-bed, 2-bath unit. All units finished to the same standard with same fixtures, amenities, etc. Extensive exterior work completed as well, including roof, new deck, landscaping, painting, gutters, and more. Both on-street and off-street parking are available, with one unit showcasing a large deck overlooking a large fenced backyard and parking area large enough for ~six cars.
Rental Income & Development Potential:
Two units are currently vacant, one in each duplex. Remaining larger units will be left available for potential owner occupants. Market rents range from $1,145 for the smallest and $1,795 (conservatively) for the largest with a projected income of $6,030/month or $74,160/year once fully rented. Leases are on a great Summer cycle – they end on June 30th, 2024. Additionally, the large lot leaves the possibility of an over garage unit(s) development at the rear/alley of the property.
A Virtual Tour is Available for All Units:
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Versatile Apartment Portfolio in a Great Location in Park Hills, Missouri
This well-maintained apartment complex consists of 49 units spread across 10 buildings, offering a variety of layouts to attract a broad tenant base.
The portfolio includes:
Addresses in the portfolio include 101, 105, 107, 109, and 113 Swan Drive; 101, 103, and 105 Pelican Drive; and 1008 and 1010 Jane Drive.
This property provides an excellent opportunity to expand or diversify your investment portfolio with a mix of unit sizes and configurations to meet tenant demand.
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