8-Unit Brick Apartment
For Sale
$775,000
4615 Virginia Avenue St, Louis, MO 63111
MULTI_FAMILY - Other - St Louis, MO
Property Size5,800 SF
Lot Size0.13 Acres
Price / SF$133.62
Days on Market29
Property Features for 4615 Virginia Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 6, Basement, Bathroom 1, Bathroom 7, Bedroom 7, Bathroom 2, Bedroom 3, Bathroom 8, Bedroom 8, Bedroom 9, Bedroom 1, Bedroom 12, Bathroom 4, Bedroom 11, Bathroom 5, Bathroom 3, Bedroom 10, Bedroom 6, Bedroom 5, Bedroom 2, Bedroom 4
Fencing
Chain Link
Basement
Walk-Up Access
Appliances
Stainless Steel Appliance(s), Dishwasher, Electric Oven, Refrigerator
Subdivision
Louisiana Heights Add
Lot features
Level
Elementary school
Woodward Elem.
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
GPS friendly
Standard status
Active
APN
2740-00-0210-0
Size
5,800 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4103
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1963
Floors in Building
2
Number of units
8
Flooring type
Vinyl
Building materials
Brick
Roof type
Flat
Architectural style
Other
Listing Agency:
Mogul Realty
(314) 865-1170
Listed By:
Brian Miller · License #2016012615
(314) 865-1170
Added: Jul 15
Changed: Aug 3
Last Checked: Aug 12 at 1:06AM
MLS# 26041459
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.
Investment Insights
Based on property information with market context.
Brick 8-unit apartment building built in 1963 with vinyl flooring and wall air conditioning. The property has been extensively renovated, with updates completed throughout 2023–2025 across all apartments, including new flooring, fresh paint, updated kitchens with new countertops, sinks, faucets, and appliances, renovated bathrooms, and updated lighting, doors, trim, blinds, and electrical devices.
Major mechanical improvements include new through-wall A/C units and seven new furnaces. Common areas have also been refreshed with new carpet, LVP flooring, stair treads, updated lighting, professionally restored railings, and a cleaned basement, along with tenant storage areas, washer/dryer hookups, and an owner storage room. Exterior improvements include a newer flat roof installed in 2022, exterior lighting, landscaping improvements, and off-street parking for approximately five vehicles.
The building is fully occupied, with showings scheduled after an accepted contract.
Major mechanical improvements include new through-wall A/C units and seven new furnaces. Common areas have also been refreshed with new carpet, LVP flooring, stair treads, updated lighting, professionally restored railings, and a cleaned basement, along with tenant storage areas, washer/dryer hookups, and an owner storage room. Exterior improvements include a newer flat roof installed in 2022, exterior lighting, landscaping improvements, and off-street parking for approximately five vehicles.
The building is fully occupied, with showings scheduled after an accepted contract.
Key Highlights
- Extensively renovated throughout 2023–2025 across all 1‑bedroom and 2‑bedroom units
- New through‑wall A/C units plus seven new furnaces
- Flat roof replaced in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,975
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,079,500
$1.1M
Cap Rate 7%
$771,071
$771.1K
Cap Rate 9%
$599,722
$599.7K
Market Conditions
NOI Build-Up for 5,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$104.4K $18.00/SF
− Vacancy
−$6.3K −$1.08/SF
EGI
$98.1K $16.92/SF
− OpEx
−$44.2K −$7.61/SF
NOI
$54.0K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,079,500
Cap Rate 7%
$771,071
Cap Rate 9%
$599,722
Alternative Uses
Best Use
Apartment 5plus
$771.1K
$674.7K – $899.6K
NOI $53,975 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,135 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Explore this area
Business Placement
Demographics for 63111, MO
19,538
Population
10,541
Households
1.9
Avg Household Size
37
Median Age
19%
College-Educated
86%
High-School Grad
3.2 sq mi
ZIP Area
6,106
Density / Sq Mi
$43,295
Median Household Income
$33,114
Median Earnings
$846
Median Rent
$115,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 8-unit brick apartment building with updated apartments, major mechanicals, and off-street parking for about five vehicles.
Where is this apartment building located?
The property is located at 4615 Virginia Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Extensively renovated throughout 2023–2025 across all 1‑bedroom and 2‑bedroom units; New through‑wall A/C units plus seven new furnaces; Flat roof replaced in 2022
