Furnished Apartment
For Sale
Contact for pricing
1019 ALLEN AVE, Saint Louis, MO 63104
Individually renovated residences offer furnished accommodations, full kitchens, in-unit laundry, and electronic locks.
Property Size7,277 SF
Price / SF$258.68
Days on Market15
Property Features for 1019 ALLEN AVE
General Information
Standard status
Active
Size
7,277 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$136,478
Building Details
Year Built
1901
Buildings
1
Stories
3
Units
10
Tenancy
Multi
Listing Agency:
The Agency
(314) 517-1925
Listed By:
Anthony Klier · License #MO 2022012991
Source:
Crexi
Added: Aug 7
Changed: Aug 15
Last Checked: Aug 20 at 3:33PM
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 The Agency
Investment Insights
Based on property information with market context.
This 1901 red-brick corner building contains 10 individually renovated, fully furnished apartments on a single parcel associated with 1019, 1021, and 1023 Allen Avenue. The property provides 7,277 SF of net rentable area and includes three one-bedroom, one-bath units; three one-bedroom, one-and-a-half-bath units; two two-bedroom, two-and-a-half-bath units; and two studios. Each residence has a distinct floor plan, full kitchen, in-unit laundry, smart TV, queen bed, and electronic lock. Owner-paid high-speed internet is provided throughout the building.
The property is 100% occupied and has a reported 7.25% going-in cap rate based on trailing operating results. One unit has operated as an Airbnb since February 2023. The Allen Avenue addresses are in Soulard, St. Louis, with nearby access to McGurk's, Molly's, the Anheuser-Busch Brewery, three hospital campuses, Downtown, Busch Stadium, I-55, and I-44.
The property is 100% occupied and has a reported 7.25% going-in cap rate based on trailing operating results. One unit has operated as an Airbnb since February 2023. The Allen Avenue addresses are in Soulard, St. Louis, with nearby access to McGurk's, Molly's, the Anheuser-Busch Brewery, three hospital campuses, Downtown, Busch Stadium, I-55, and I-44.
Key Highlights
- 10 fully furnished apartments in a 1901 red‑brick corner building
- 7,277 SF of net rentable area across 10 units
- Unit mix includes three 1BR/1BA, three 1BR/1.5BA, two 2BR/2.5BA, and two studios
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
$67,720
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
3.60%
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%
$1,354,400
$1.4M
Cap Rate 7%
$967,429
$967.4K
Cap Rate 9%
$752,444
$752.4K
Market Conditions
NOI Build-Up for 7,277 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
$131.0K $18.00/SF
− Vacancy
−$7.9K −$1.08/SF
EGI
$123.1K $16.92/SF
− OpEx
−$55.4K −$7.61/SF
NOI
$67.7K $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%
$1,354,400
Cap Rate 7%
$967,429
Cap Rate 9%
$752,444
Alternative Uses
Best Use
Apartment 5plus
$967.4K
$846.5K – $1.13M
NOI $67,720 @ 7.0% cap · market cap 3.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,324 @ 7.0% cap · market cap 5.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
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 - Individually renovated residences offer furnished accommodations, full kitchens, in-unit laundry, and electronic locks.
Where is this apartment building located?
The property is located at 1019 ALLEN AVE Saint Louis, MO.
What is the asking price?
The asking price for this property is $1,882,400.
What are key features of this property?
This property features: 10 fully furnished apartments in a 1901 red‑brick corner building; 7,277 SF of net rentable area across 10 units; Unit mix includes three 1BR/1BA, three 1BR/1.5BA, two 2BR/2.5BA, and two studios
