1133 Talmage Avenue
Property Description
Opportunity to acquire an updated three-family asset in The Grove, one of St. Louis' most desirable central corridor neighborhoods. Located near Forest Park, the Missouri Botanical Garden, Cortex, Barnes-Jewish Hospital, and the shops, restaurants, and nightlife along Manchester Avenue, 1133 Talmage offers strong rental appeal with both owner-occupant and investor upside. The 4,164 square foot building includes a spacious, converted three-bedroom, two-bath townhome unit with more than 2,000 square feet, plus two large one-bedroom, one-bath units, each offering more than 1,000 square feet. The townhome unit is currently vacant, making it an ideal option for an owner-occupant looking to live in one unit while the existing tenants help offset the mortgage. The two one-bedroom units are occupied by long-term month-to-month tenants at below-market rents of $1,110 and $995 per month, creating a clear opportunity to increase income over time. Nearby rental comparables show similar one-bedroom units averaging approximately $1,625 within a 1.5-mile radius, while comparable three-bedroom units average approximately $2,342 within a 3-mile radius. The building features updated kitchens, some stainless steel appliances, updated bathrooms, fireplaces, central air, hardwood floors, in-unit washers and dryers, a partially fenced backyard, patio space, and balconies for the upper-floor units. With a desirable location, large unit layouts, existing rental income, and a vacant owner-occupant-ready townhome, 1133 Talmage offers a strong combination of stability and upside in The Grove.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $574,900 |
| No. of Units: | 3 |
| Year Built: | 1891 |
| Lot Size: | 4,128.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $191,633 |
| Property Website | Click Here |
| Number of Bedrooms: | 5 |
| Number of Bathrooms: | 4 |
ID: 3yd-MARISMO-26039282
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