Updated and fully furnished side by side townhomes in the heart of The Grove—walkable to Forest Park, the Medical Center, breweries, restaurants, and nightlife. Enjoy easy access to highways, downtown, and the Central West End.

This 5,104 ft building is a turnkey opportunity—sold fully furnished, with modern updates, flexible rental options, and a location in one of the city’s fastest-growing neighborhoods.

Ideal for investors or owner-occupants seeking a move-in-ready property with exceptional income potential. Currently operating as a successful short-term furnished rental, the property generated $76,694 in gross rental income in 2024.

Each side of this beautifully rehabbed building offers spacious layouts with 3 bedrooms, 3 full bathrooms, multiple living areas, and off-street parking. Thoughtful renovations blend historic charm with bold, modern finishes, including granite countertops, stylish lighting, and custom millwork.

Outdoor spaces include private wood decks and balconies—perfect for relaxing or entertaining. Interiors feature professionally curated decor with a sleek, open feel, ready for Airbnb, mid/long-term furnished leases, or an owner looking to house hack in one of St. Louis’s most dynamic neighborhoods.

There’s strong income potential for furnished medium- or long-term rentals. Potential market rent for a 2,500+ sq ft furnished rental is $4,500 per unit, projected annual income totals up to $108,000—boosted by close proximity to the Barnes Hospital Complex and Washington University Medical School.

Whether you’re an investor seeking strong cash flow or a buyer looking for a stylish, income-producing place to call home, Chouteau checks all the boxes.

Rare opportunity to acquire an updated 7-family property with a 2-car garage in St. Charles. The main building includes five units, while two additional units are located in a separate building at the rear of the property. Tenants enjoy access to a fenced backyard and a covered front porch. The main building offers approximately 2,415 sq ft of living space, with an estimated 1,100 sq ft in the rear building, totaling roughly 3,515 sq ft.

Currently, six units are occupied. Once fully leased—including the seventh unit and the second garage space (which rents for $50/month)—the property is projected to generate $4,335 per month in gross rental income. There is solid potential for rent increases. The average rent for studio apartments within a 10-mile radius over the past year is $1,207, while one-bedroom units within a 3-mile radius averaged $1,309. Over the past 12 months, the property generated $47,531 in income, with operating expenses totaling $20,540.

Investment Overview:

The Cabanne Castle is a striking Tudor style three-story brick apartment building built in 1925, totaling approximately 31,898 sq. ft.  

The building has distinct unique turrets and architectural features, and a large courtyard.

42 Units: (24) 1-bed / 1-bath units and (18) 2-bed / 1-bath units. There is a lower level with 24 underground parking spaces, and space for private storage for tenants. 

The building is located in the West End neighborhood:

• .4 miles from the Central West End
• .9 miles from Forest Park
• 1.5 miles from The Loop
• 1.6 miles from Barnes Medical Complex and Washington University Medical School
• 2.5 miles from Washington University
• 2.9 miles from Clayton, MO

Strong rental demand in the area supported by nearby institutions and entertainment hubs.

Ideal for developers or investors seeking a large-scale multi-family rehab project with key infrastructure already in place.

There is an adjacent lot to the west of the building included in the sale which can be used for additional parking.

Project Status & Improvements:

The building needs to be completed, but many plans and permits are already city-approved (some will need renewal).

Some of the completed improvements include: Demolition, a new roof, new windows on rear and sides, tuckpointing, framing, floors have been leveled, etc.

Ready for mechanical, electrical, and plumbing installation.

Value-Add Potential:

Historic tax credits are available for the project.

Opportunity to convert the underground lower level into 6 additional units which could possibly be added with additional egress added for the units. There is also potential to add a lounge and gym in the lower level. 

Approximate after repair value is $5,200,000 ($123,809 per unit).

Approximate cost to complete the project is $2,800,000 ($66,666 per unit).

Approximate purchase plus renovation costs are $4,200,000 ($100,000 per unit).

Potential 23% equity after completion of the project with a 9.9% cap rate.

With projected renovation costs of $2,800,000 with combined state and federal tax credits at 45% of qualified expenses there is the potential for tax credits in excess of $1,000,000.

There is also potential for property tax abatement through the city of St. Louis.

Potential Financing Once Stabilized: 

$3,750,000 30 year loan at 5.5% .

Debt service coverage ratio 1.2.

This portfolio features seven diligently maintained condos across 6 buildings located close to each other in Hazelwood on Sieloff Drive. All 7 units are currently occupied. These condos are all two-bedroom, one-bathroom units with the exception of one 3-bedroom, 1-bathroom unit. Many of these units have had the same tenants for several years and are in good condition.

The current monthly rental income is $5,325, totaling $63,900 annually, while the current annual expenses stand at $21,666, resulting in a net annual income of $42,234. At the current list price, assuming 80% LTV 30yr amortization and 7% rate this condo portfolio is lender friendly, exceeding a 1.5 DSCR. Additionally, there is potential for even higher net income as the units are currently rented below market rates.

Property maintenance is hassle-free with the condo association handling all exterior repairs, landscaping, and parking areas. Amenities include dedicated off-street parking, in-unit or on-site laundry, and cost-effective all-electric utilities, covering water, trash, and gas expenses. Major employers like Amazon and Boeing are located within close proximity to the condos.

Property Highlights

• Situated in the Southwest Garden neighborhood, one of St. Louis’ most desirable neighborhoods. Steps from the Missouri Botanical Garden, Barnes Hospital, Washington University Medical School, Forest Park and Tower Grove Park, offering a highly sought-after setting for tenants.
• All four units are in similar condition, offering consistency and ease of management. A well-maintained, income-generating asset in a high-demand rental market.
• Total building size: 3,536 sq. ft.
• The building is priced at $150 sq ft.
• Central heating and cooling for all units.
• Laundry hookups in the basement for each unit.
• Four true 1-bedroom, 1-bathroom units – each approximately 800 sq. ft. (not shotgun, walkthrough layouts).
• This four family has the potential to be converted from one bedroom units to two bedroom units by creating a wall with bedroom at the front of the apartment. An open kitchen with island with connected living area setup is possible by removing the wall between the kitchen and the living room.
• 2 bedroom apartments in the area have rented from $1,500-$2,225, with a second bedroom and open kitchen concept there is potential to significantly increase the rents.

The Building & Systems

• TPO roof (approximately 6 years old).
• Mostly vinyl exterior windows with aluminum capping.
• All PVC stacks and drains. All PVC lateral under the basement slab (mix of PVC and clay for laterals outside the building).
• Parking pad at the rear of the building for approximately 4 vehicles.

Virtual Tour

• Unit 1W – https://my.matterport.com/show/?m=JZg61xTjDAB&mls=1

Property Features:

• Well-maintained property with significant rental upside and steady income potential.
• Updated kitchens and bathrooms, electrical, and plumbing, beautiful hardwood floors, stained glass windows.
• Fenced backyard with brick garage and secure parking.
• Recently updated central HVAC systems.

Prime Location in The Grove:

• Rare and highly desirable opportunity in one of St. Louis’ most dynamic neighborhoods.
• Close to Forest Park, Barnes Hospital, Wash U. Medical School, The Botanical Gardens, The Cortex, restaurants, nightlife, major hospitals, and SLU campus.
• The Grove is a very desirable neighborhood to live in for the medical community, students, and professionals driving strong rental demand.

Rental Income Potential:

• Current rental rates: $1,095 and $1,395 per month.
• Comparable units in the area lease for $1,400+ per month, leaving room for rental growth.
• 3 of the 4 generates over $3,500 in monthly income, an ideal for owner-occupants looking to house-hack.

Tenant Appeal:

• Thoughtfully designed 2-bedroom, 1-bathroom layouts with modern finishes.
• Low tenant turnover, thanks to the property’s charm and excellent location.
• Private backyard provides space for tenants to congregate and have an enclosed place for a pet.

Virtual Tours:

• 4501 Wichita – 1E: https://my.matterport.com/show/?m=EVFjh9eQJ1W&mls=1