5522 Delmar Boulevard
Property Description
The Tanjiers is a seven-story, 48-unit elevator building on Delmar Boulevard in DeBaliviere Place, offered at $115,000 per unit. Location is the headline: the WashU Delmar DivINe shuttle stops directly across Delmar, WashU's Danforth Campus and the WashU Medical Campus/Barnes-Jewish Hospital are each about 1.2 miles away, and Forest Park, the Forest Park-DeBaliviere MetroLink station and the Delmar Loop are all minutes from the front door. Units were renovated in 2019-2020 with LVP flooring, white shaker kitchens with subway-tile backsplashes and stainless appliances, tiled baths, central heating and cooling, and washer/dryer hookups in every unit. Common areas received capital improvements following the May 2025 storm, and a landscaped terrace frames the entrance. The mix of 20 studios, 21 one-bedrooms and 7 two-bedrooms is built for the steady renter demand around WashU and SLU. Per the October 7, 2026 rent roll, 45 of 48 units are leased or pending and every one sits below ownership's target rent, an $88,440 annual base-rent gap. With 41 of 45 leases ending by August 2027, including 16 in July, a new owner has a clear window to move rents toward target ahead of the 2027-28 school year. Annualized scheduled income against trailing-12 expenses indicates a 7.88% cap rate, with a 9.64% pro forma at target rents. Real estate tax abatement is reported through 2030. Buyer to verify all information.
Broker Details
The Agency (314) 280-9996
MLS ID: ANTKLIER State License Number: 2022012991
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $5,520,000 |
| No. of Units: | 48 |
| Year Built: | 1950 |
| Lot Size: | 29,813.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $115,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 3 |
ID: 3yd-MARISMO-26065788
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