4504 Arsenal Street
- 4-Unit Multifamily | South City Submarket
- Directly Across Tower Grove Park | 289-Acre Historic Landmark
- Heavy Value-Add | $1,550 Average Market Rents
- Mostly Vacant | Immediate Renovation Opportunity
- Recent Cap-Ex | New Roof, Gutters, Deck
- 3 Miles to BJC HealthCare | 30,000+ Employees
- Historic Tax Credit Eligible | Additional Return Enhancement
- $775K Comparable | Smaller Updated Building Nearby
Property Description
This 1912-built four-unit multifamily building at 4504 Arsenal Street presents an exceptional value-add opportunity directly across from Tower Grove Park. The 5,162-square-foot property features one three-bedroom/one-bath unit and three two-bedroom/one-bath units, with three of the four units currently vacant, allowing immediate renovation commencement. Recent ownership improvements include a brand new roof and gutters, interior ceiling repairs, rebuilt deck, exterior cleanup and landscaping, freshened common areas, and complete cleanout, establishing a solid foundation for the next phase of improvements. Positioned along the northern edge of Tower Grove South, the property enjoys direct access to the 289-acre National Historic Landmark Tower Grove Park with its weekly farmers' market, free St. Louis Symphony concerts, and seven miles of trails. The location provides outstanding connectivity to major employment centers, with BJC HealthCare and Washington University Medical Center three miles north, Saint Louis University two miles northeast, and the Cortex Innovation District 2.5 miles north. The forthcoming $18 million Tower Grove Connector will further enhance commuter accessibility upon its 2026 completion. We believe this represents a compelling investment based on the extraordinary location where Tower Grove Park-facing buildings rarely become available. With estimated market rents of $1,550 per month and the potential for the true three-bedroom unit to achieve $1,750 or higher depending on finishes, the renovated property could reach an approximate $800,000 stabilized value. A comparable four-unit building recently sold for $775,000 despite being smaller and less updated. Missouri State and Federal Historic tax credits may provide additional return enhancement for this 1912-vintage building in one of St. Louis' most vibrant historic neighborhoods.Broker Details
Salient Realty Group 314-451-7471
MLS ID: GALAFSER State License Number: 2015014613
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $450,000 |
| No. of Units: | 4 |
| Year Built: | 1912 |
| Lot Size: | 0.11 Acres |
| Opportunity Zone: | No |
| Price per unit: | $112,500 |
| Property Website | Click Here |
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