7420 Commonwealth Avenue
- 6,720 SF building with 10 units
- Built in 1964, zoned 35LRD
- Strong rental demand commercial space
- Additional commercial/studio suite (~1,440 SF)
- Market-supported rent upside
- Individually metered utilities (gas/electric)
- Central A/C in units
- Coin laundry income opportunity
- Secured tenant storage (6x10 per unit)
- Outdoor BBQ/common area
- 4 off-street parking spaces
- Full brick construction
- Recent major capital improvements completed
Property Description
7420 Commonwealth Ave is a well-maintained multifamily asset featuring eight 1-bedroom, 1-bath units, one studio unit, and a 1,440 SF lower-level commercial suite, ideally located in the highly desirable Maplewood submarket. The property offers immediate, stable cash flow with all residential units fully leased, along with clear upside through strategic rent increases and lease-up of the commercial space. Recent capital improvements—including a 50-year metal roof, new vinyl windows, and composite entry doors—help minimize near-term capital expenditure and enhance long-term durability. Current apartment rents are approximately 20% below market, supported by comparable one-bedroom units within a 1.5-mile radius over the past year, presenting a strong value-add opportunity. The lower-level commercial space is well-suited for a contractor’s warehouse/office and is projected to achieve approximately $1,920/month ($16/SF) based on market rents. Additional revenue opportunities include leasing storage units and monetizing off-street parking, further enhancing the asset’s income potential.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: | $1,200,000 |
| No. of Units: | 10 |
| Year Built: | 1964 |
| Lot Size: | 0.20 Acres |
| Opportunity Zone: | No |
| Price per unit: | $120,000 |
| Property Website | Click Here |
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