Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3862 S Spg Ave St Louis, MO 63116

    View on Map
    Sponsored
    For Sale
    $1,250,000

    5 Family or More, Apartment Style - St Louis, MO

    Property size:
    15,312 SF
    Lot size:
    0.50 Acres
    Days on Market:
    18
    Last Refresh:
    Mar 10 at 4:06 am

    Property Features for 3862 S Spg Ave St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement
    APN
    4178-03-0120-0
    Parking features
    Garage, Garage - Attached, On Street
    Basement Y/N
    1
    Appliances
    Cooktop, Cooktop - Electric, Refrigerator
    Size
    15,312 SF
    Lot size
    0.50 Acres

    Utilities

    Heating system
    Baseboard
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1931
    Number of units
    18
    Flooring type
    Vinyl, Wood
    Building materials
    Brick
    Roof type
    Membrane
    Architectural style
    Other

    We can help!

    Listing Contact
    Garen Lafser

    Salient Realty Group, LLC (314) 374-3687

    Listing agent Garen Lafser (314) 374-3687 License #2015014613

    Listing date Feb 20, 2026

    MLS# 26006455 Listing URL

    Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    South City 18-Unit Apartment Complex

    This 18-unit apartment complex is located in South City. The property features twelve 1-bed/1-bath units and six 2-bed/1-bath units. The property also includes 12 garages and a large side lot. The building has heavy-duty masonry construction and traditional St. Louis architecture. The property is positioned near major local employers and the Grand Boulevard corridor. The complex is located in a neighborhood known for its historic architecture and steady demand for rental housing. The property size is 15312 square feet, situated on a 0.499-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Louis
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.248334
    Latitude
    38.586976

    Nearby Similar for Sale

    • $399,000
      4,900 SF

      Dellwood Commercial Building with Retail

      Commercial building in Dellwood with retail and office spaces.
      1434 Chambers Rd St, Louis, MO 63135
      View Details
    • $525,000
      3,338 SF

      Renovated Office Building in St. Louis

      Turnkey 3,338 SF creative office in Tower Grove South.
      3353 Roger Pl St, Louis, MO 63116
      View Details
    • $695,000
      0.22 Acres

      Turnkey Multi-Family Plus Commercial Space

      Renovated 9-family building with commercial space in South City.
      3659 S Broadway St, Louis, MO 63118
      View Details
    • $899,000
      6,400 SF

      Mixed-Use Property on The Hill

      6,400 SF mixed-use property in St. Louis's vibrant The Hill neighborhood.
      4916 Shaw Ave St, Louis, MO 63110
      View Details
    • $199,900
      3,240 SF

      Retail Opportunity in St Louis

      Retail property with redevelopment potential in a busy location.
      8304 N Broadway St, Louis, MO 63147
      View Details
    • $425,000
      5,282 SF

      Downtown St. Louis Redevelopment Opportunity

      Historic two-story building in downtown St. Louis for sale.
      1011 Olive St St, Louis, MO 63101
      View Details
    • $699,000
      8,202 SF

      Downtown St. Louis Venue For Sale

      Prominent downtown St. Louis Blues & Jazz venue now available!
      700 S Broadway St, Louis, MO 63102
      View Details
    • $760,000
      8,422 SF

      Restaurant Space with Luxury Finishes

      Restaurant space with full commercial kitchen and bar areas.
      1511 Washington Ave St, Louis, MO 63103
      View Details
    • $750,000
      12,528 SF

      Downtown St. Louis Commercial Condo

      7,078 SF commercial condo in the heart of downtown.
      920 Olive St St, Louis, MO 63101
      View Details
    • $925,000
      7,941 SF

      St Louis Automotive Retail Property

      Automotive and retail property in St Louis, Missouri for sale.
      3904 Delmar Blvd St, Louis, MO 63108
      View Details
    • $200,000
      0.12 Acres

      St Louis Restaurant Opportunity

      Carry-out restaurant with updated systems in high-traffic area.
      7950 N Broadway St, Louis, MO 63147
      View Details
    • $250,000
      3,960 SF

      St Louis Retail For Sale

      Retail property with high visibility and ample parking.
      9322 Saint Charles Rock Rd St, Louis, MO 63114
      View Details

    FAQs

    What type of property is this?
    Apartment building - 18-unit apartment complex in South City near Grand Boulevard.
    Where is this apartment building located?
    The property is located at 3862 S Spg Ave St Louis, MO.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - 18-unit apartment complex featuring a mix of 1 bed/1 bath and 2 bed/1 bath units.; - Includes 12 garages and a large side lot.; - Located in South City near major local employers and the Grand Boulevard corridor.
    (314) 374-3687
    Request Owner's contact information
    3862 S Spg Ave St Louis, MO 63116
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3862 S Spg Ave St
    Louis, MO 63116
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3862 S Spg Ave St Louis, MO 63116
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Garen Lafser
    Real Estate License ID: 2015014613
    (314) 374-3687
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!