3530 Utah Street
- Historic Schoolhouse Conversion in 2017 - Luxury Apartment Finishes
- Great unit mix - 2 bd, 1 bd and studio
- Operational Upside & Below Market Rents
- In-Unit Washer and Dryer
- Secured Gated Parking
Property Description
Salient Realty Group is pleased to present, The La Maison apartments, located at 3530 Utah Street, the property presents a unique investment in a meticulously restored historic schoolhouse in Tower Grove East. This boutique-style building features a variety of floor plans, including studio, one-bedroom, and two-bedroom units, many of which offer high-demand loft-style layouts. Each apartment is finished with premium finishes, including quartz countertops, custom cabinetry, stainless steel appliances, and original hardwood flooring. The architectural integrity of the building is preserved through soaring ceilings and oversized windows that provide significant natural light. Historic details, such as original built-in bookshelves and vintage chalkboards in select units, offer a distinct character that differentiates this property from standard modern developments. La Maison presents immediate upside through rent growth and operational efficiencies. The current in-place average rents trail market by ~$275/unit/month, allowing a clear path to increasing cash flow through unit turnover and improved management. Comparable renovated units in the area support the proforma rent assumptions. Situated near Tower Grove Park, South Grand Retail, SLU Medical and close to Downtown St. Louis, La Maison has significant upside with strong rental demand. La Maison provides an opportunity to acquire a well located asset with income, growth and long term appreciation potential.
Broker Details
Salient Realty Group 314-451-7145
MLS ID: TMCCARTH State License Number: 2019034093
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,595,000 |
| No. of Units: | 25 |
| Average Occupancy: | 6.51 |
| Year Built: | 1905 |
| Lot Size: | 0.46 Acres |
| Opportunity Zone: | No |
| Price per unit: | $143,800 |
| Property Website | Click Here |
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