Updated Six-Unit Apartment
For Sale
$950,000
10003 Willdan Dr, Saint Louis, MO 63123
Mixed apartment and townhome configuration with private outdoor areas, laundry facilities, and recent exterior improvements.
Property Size7,620 SF
Price / SF$124.67
Days on Market8
Property Features for 10003 Willdan Dr
General Information
Standard status
Active
Size
7,620 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$9,926
Listing Agency:
Epique Realty
(888) 893-3537
Listed By:
Todd Murray · License #2020041827
(314) 409-3320
Source:
Exprealty
Added: Sep 15
Changed: Sep 21
Last Checked: Sep 21 at 2:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Epique Realty
Investment Insights
Based on property information with market context.
This six-unit multifamily property combines four apartments with two two-story townhomes across 3 separate tax IDs. Each apartment includes 2 bedrooms, 1 bathroom, a living room, an eat-in kitchen, and a private rear balcony, with shared basement laundry and storage. The townhomes offer 2 bedrooms, 1.5 bathrooms, living rooms, kitchen and dining areas, walkout patios, private laundry, and partially finished private basements.
Recent improvements include a new roof, new siding, and updates throughout the units. One townhome and two apartments are vacant, while the remaining units provide an established rental configuration. The property is located in Lakeshire and within the Lindbergh School District.
Recent improvements include a new roof, new siding, and updates throughout the units. One townhome and two apartments are vacant, while the remaining units provide an established rental configuration. The property is located in Lakeshire and within the Lindbergh School District.
Key Highlights
- Six units: four 2BR/1BA apartments and two 2BR/1.5BA townhomes
- Four apartments include private rear balconies and shared basement laundry/storage
- Two‑story townhomes feature private laundry, walkout patios, and partially finished basements
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
$70,912
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
7.46%
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%
$1,418,240
$1.4M
Cap Rate 7%
$1,013,029
$1.0M
Cap Rate 9%
$787,911
$787.9K
Market Conditions
NOI Build-Up for 7,620 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
$137.2K $18.00/SF
− Vacancy
−$8.2K −$1.08/SF
EGI
$128.9K $16.92/SF
− OpEx
−$58.0K −$7.61/SF
NOI
$70.9K $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%
$1,418,240
Cap Rate 7%
$1,013,029
Cap Rate 9%
$787,911
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$886.4K – $1.18M
NOI $70,912 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,477 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
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Business Placement
Demographics for 63123, MO
50,989
Population
23,208
Households
2.2
Avg Household Size
41
Median Age
36%
College-Educated
92%
High-School Grad
12.5 sq mi
ZIP Area
4,079
Density / Sq Mi
$74,187
Median Household Income
$43,458
Median Earnings
$987
Median Rent
$205,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed apartment and townhome configuration with private outdoor areas, laundry facilities, and recent exterior improvements.
Where is this apartment building located?
The property is located at 10003 Willdan Dr Saint Louis, MO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six units: four 2BR/1BA apartments and two 2BR/1.5BA townhomes; Four apartments include private rear balconies and shared basement laundry/storage; Two‑story townhomes feature private laundry, walkout patios, and partially finished basements
