Four-Unit Multifamily
For Sale
$589,000
Pending
6242 North Drive St, Louis, MO 63130
MULTI_FAMILY - Other - St Louis, MO
Property Size3,852 SF
Lot Size0.12 Acres
Days on Market36
Property Features for 6242 North Drive St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1, Basement, Bedroom 2, Bedroom 1
Parking features
Off Street, On Street
Basement
Storage Space, Unfinished
Appliances
Stainless Steel Appliance(s), Dishwasher, Microwave, Built-In Electric Range, Refrigerator
Subdivision
North Parkview
Elementary school
Pershing Elem.
Middle school
Brittany Woods
High school
University City Sr. High
Elementary school district
University City
Middle school district
University City
High school district
University City
Standard status
Pending
APN
18H-44-3112
Size
3,852 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6552
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
updated kitchens with stainless appliances
original hardwood flooring
individual washer/dryer setups
dedicated storage spaces
Building Details
Year built
1926
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Realty St. Louis
(314) 677-6000
Listed By:
Kraemer & Kraemer · License #2017000519
(314) 677-6000
Added: Jul 13
Changed: Aug 1
Last Checked: Aug 17 at 1:06PM
MLS# 26025113
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.
Four-unit multifamily building built in 1926 with brick construction. The property contains units with two bedrooms and one full bathroom each, hardwood flooring, and updated kitchens featuring stainless appliances. Heating is forced air and cooling is central air.
The basement includes individual washer/dryer setups for each unit along with dedicated storage spaces. Parking is available both off-street and on-street. Water service is public.
The building is identified as a four-family property with a lot size of 0.12 acres and a total property size of 3,852 square feet.
The basement includes individual washer/dryer setups for each unit along with dedicated storage spaces. Parking is available both off-street and on-street. Water service is public.
The building is identified as a four-family property with a lot size of 0.12 acres and a total property size of 3,852 square feet.
Key Highlights
- Four‑unit multifamily building with brick construction built in 1926
- Each unit has two bedrooms and one full bathroom
- Updated kitchens with stainless appliances plus original hardwood flooring
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
$41,192
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
6.99%
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%
$823,840
$823.8K
Cap Rate 7%
$588,457
$588.5K
Cap Rate 9%
$457,689
$457.7K
Market Conditions
NOI Build-Up for 3,852 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
$62.4K $16.20/SF
− Vacancy
−$3.6K −$0.92/SF
EGI
$58.8K $15.28/SF
− OpEx
−$17.7K −$4.58/SF
NOI
$41.2K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$823,840
Cap Rate 7%
$588,457
Cap Rate 9%
$457,689
Alternative Uses
Best Use
Multifamily LT 5
$588.5K
$514.9K – $686.5K
NOI $41,192 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$512.1K
$448.1K – $597.5K
NOI $35,847 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$826.7K
$723.4K – $964.5K
NOI $57,869 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
959
Businesses Nearby
Explore this area
Business Placement
Demographics for 63130, MO
29,454
Population
14,106
Households
2.1
Avg Household Size
35
Median Age
64%
College-Educated
97%
High-School Grad
5.0 sq mi
ZIP Area
5,891
Density / Sq Mi
$81,103
Median Household Income
$50,407
Median Earnings
$1,199
Median Rent
$285,500
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?
Quadplex - Brick four-unit building with central air, forced-air heat, and individual basement washer/dryer setups.
Where is this quadplex located?
The property is located at 6242 North Drive St Louis, MO.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Four‑unit multifamily building with brick construction built in 1926; Each unit has two bedrooms and one full bathroom; Updated kitchens with stainless appliances plus original hardwood flooring
