Single-Family Rental
1123 Rhea Avenue Spanish Lake, MO 63138
1123 Rhea Avenue, Spanish Lake, MO, 63138
$1,349,000
For Sale
$1,349,000
MULTI_FAMILY - Ranch - Spanish Lake, MO
Property Size864 SF
Lot Size0.12 Acres
Price / SF$1,561
Days on Market21
Property Features for 1123 Rhea Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 7
- Standard status
- Active
- APN
- 09E-34-0663
- Size
- 864 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 1682
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1959
- Building materials
- Vinyl Siding
- Architectural style
- Ranch
Listing agency
Invest St. Louis
(314) 325-6201
Listed by
Matt Guignon · License #2018041115
(314) 255-5117
Added: Jul 3 Updated: Jul 22 at 7:37PM Checked: Jul 23 at 3:06AM
MLS# 26041344
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Investment Insights
Based on property information with market context.
This offering is a 12-home single-family rental portfolio presented as one package. The homes feature a unit mix of 3- and 4-bedroom layouts. The portfolio is described as professionally managed and largely renovated/rent-ready, with four vacant homes currently being leased. Seller anticipates at least two additional homes will be leased prior to closing.
The properties are located throughout Spanish Lake, Ferguson, and unincorporated North St. Louis County, positioned for efficient management and maintenance given the scattered-site proximity.
Current gross rental income is approximately $11,519 per month, with projected gross rental income of approximately $14,100 per month after additional leasing. Fully stabilized pro-forma gross rental income is projected at approximately $16,700 per month. Estimated annual operating expenses are approximately $53,000, with projected stabilized NOI of approximately $147,000 per year.
The properties are located throughout Spanish Lake, Ferguson, and unincorporated North St. Louis County, positioned for efficient management and maintenance given the scattered-site proximity.
Current gross rental income is approximately $11,519 per month, with projected gross rental income of approximately $14,100 per month after additional leasing. Fully stabilized pro-forma gross rental income is projected at approximately $16,700 per month. Estimated annual operating expenses are approximately $53,000, with projected stabilized NOI of approximately $147,000 per year.
Key Highlights
- 12‑home single‑family rental portfolio offered as one package in the St. Louis market (Spanish Lake, Ferguson, and unincorporated North St. Louis County).
- Unit mix: all 3- and 4‑bedroom homes, with tenant demand from Section 8 voucher holders and market‑rate renters.
- Current gross rental income is approximately $11,519/month, with four vacant homes fully rent‑ready and actively being leased.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Isalis
(Bike/Boat/Book/etc) Store
Party City
Party Supply Store
Skunk Funk
Big Box & Wholesale Store
Carl's Trading Co
Hat Shop
Bushka's Kitchen LLC
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Single family property - Twelve single-family rental homes with a mix of 3- and 4-bedroom units, including four currently rent-ready vacancies.
Where is this single family property located?
The property is located at 1123 Rhea Avenue Spanish Lake, MO.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: 12‑home single‑family rental portfolio offered as one package in the St. Louis market (Spanish Lake, Ferguson, and unincorporated North St. Louis County).; Unit mix: all 3- and 4‑bedroom homes, with tenant demand from Section 8 voucher holders and market‑rate renters.; Current gross rental income is approximately $11,519/month, with four vacant homes fully rent‑ready and actively being leased.
