Six-Unit Apartment
New
For Sale
$950,000
10003 Willdan Drive, Saint Louis, MO 63123
Residential Income, Unincorporated, MO
Property Size7,620 SF
Price / SF$124.67
Days on Market2
Property Features for 10003 Willdan Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 9, Bedroom 8, Bedroom 11, Bedroom 5, Bathroom 1, Bedroom 10, Bedroom 4, Bedroom 2, Bathroom 6, Bathroom 4, Bathroom 3, Bedroom 7, Bedroom 12, Bathroom 5, Bedroom 6, Bathroom 7, Bedroom 3, Bathroom 2, Bathroom 8, Bedroom 1
Parking features
Alley, Off Street
Basement
Concrete
Subdivision
Lakeshire Park
Elementary school
Dressel Elem.
Middle school
Robert H. Sperreng Middle
High school
Lindbergh Sr. High
Elementary school district
Lindbergh Schools
Middle school district
Lindbergh Schools
High school district
Lindbergh Schools
Standard status
Active
APN
27k-63-1854
Size
7,620 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9926
Utilities
Utilities
Cable Available
Heating system
Forced Air
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
shared basement laundry/storage
Building Details
Year built
1975
Floors in Building
2
Building materials
Brick, Concrete, Vinyl Siding
Listing Agency:
Epique Realty
(888) 893-3537
Listed By:
Todd Murray · License #2020041827
(816) 522-4531
Added: Sep 16
Changed: Sep 17
Last Checked: Sep 17 at 2:06PM
MLS# 26059445
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.
This multifamily property at 10003 Willdan Drive includes four two-bedroom, one-bath apartments and two two-bedroom townhomes. The apartments provide living rooms, eat-in kitchens, rear balconies, and shared basement laundry and storage. Each two-story townhome adds a living room, kitchen and dining area, walkout patio, private laundry, and a partially finished basement.
The 7,620-square-foot property was built in 1975 and has received updates that include a newer roof, siding, and improvements within the units. Construction incorporates brick, concrete, and vinyl siding, with forced-air heating, central air, and ceiling fans. Parking is available off street and via alley access, while the property is served by public water and has cable available.
The property spans three separate tax IDs and is located in Unincorporated, Missouri, within the Lindbergh School District. One townhome and two apartments are vacant, while the remaining units provide an existing residential income configuration.
The 7,620-square-foot property was built in 1975 and has received updates that include a newer roof, siding, and improvements within the units. Construction incorporates brick, concrete, and vinyl siding, with forced-air heating, central air, and ceiling fans. Parking is available off street and via alley access, while the property is served by public water and has cable available.
The property spans three separate tax IDs and is located in Unincorporated, Missouri, within the Lindbergh School District. One townhome and two apartments are vacant, while the remaining units provide an existing residential income configuration.
Key Highlights
- Six‑unit configuration with four apartments and two townhomes
- Four 2BR/1BA apartments with eat‑in kitchens, rear balconies, and shared basement laundry/storage
- Two 2BR/1.5BA townhomes with 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
Lease Details
6
Residential units
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 - Updated multifamily asset with four apartments, two townhomes, and a mix of private and shared amenities.
Where is this apartment building located?
The property is located at 10003 Willdan Drive 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‑unit configuration with four apartments and two townhomes; Four 2BR/1BA apartments with eat‑in kitchens, rear balconies, and shared basement laundry/storage; Two 2BR/1.5BA townhomes with private laundry, walkout patios, and partially finished basements
