5437 Page Boulevard
- 15,444 SF building
- 12 units
- Built in 1908
- Zoned B
- Located in St. Louis
- Potential for high-rise development
- Historic charm and character
- Strong rental market in the area
Property Description
This is a rare opportunity to acquire a 12-unit multifamily property in one of St. Louis’ most desirable rental corridors, ideally located .9 miles from The Loop, 1.4 miles from Forest Park, 1.9 miles from Washington University, and 2.2 miles from Barnes Hospital. The asset consists of 4 three-family buildings featuring spacious 900-square-foot three-bedroom units, totaling 36 bedrooms. Recent capital improvements include updated HVAC systems, electrical and plumbing upgrades, new flooring, appliances, doors, windows, fresh interior paint, and refreshed common areas, with the added benefit of off-street parking for tenants. The property presents a clear value-add opportunity, as current rents remain below market levels. Rental data within a three-mile radius shows average market rents for three-bedroom units at approximately $2,230 per month, with an average of $1.83 per square foot, while Section 8 rents range from $1,570 to $1,670 per month. There is currently one unit vacant, with current rents ranging from $848-$1,100 a month. The property is listed at $77,250 per unit, there are 5 updated multi family sales comparables nearby with an average price per foot of $139, and an average price per unit of $163,178. The one vacant unit needs a unit turnover to be rentable.Broker Details
Invest In St. Louis 314-325-6201
MLS ID: JSCHOEN State License Number: 2009024331
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $840,000 |
| No. of Units: | 12 |
| Year Built: | 1908 |
| Lot Size: | 0.47 Acres |
| Opportunity Zone: | No |
| Price per unit: | $70,000 |
| Property Website | Click Here |
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