Furnished Apartment
For Sale
$1,882,400
1019 Allen Avenue St, Louis, MO 63104
Residential Income, St Louis, MO
Property Size7,680 SF
Lot Size0.09 Acres
Price / SF$245.10
Days on Market52
Property Features for 1019 Allen Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bathroom 2, Bathroom 5, Bathroom 3, Bedroom 1, Bedroom 4
Appliances
Gas Water Heater
Subdivision
Allens/Russell
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
Fanning Middle Community Ed.
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Standard status
Active
APN
0667-00-0220-0
Size
7,680 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
6092
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric, Gas (Cooling)
Water source
Public
Amenities
in-unit laundry
full kitchen
smart TV
queen beds
electronic locks
high-speed internet
Building Details
Year built
1901
Number of units
10
Building materials
Brick, Stone Veneer, Brick Veneer
Architectural style
Other
Listing Agency:
The Agency
(314) 677-1477
Listed By:
Anthony Klier · License #2022012991
(314) 517-1925
Added: Aug 7
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 26046044
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 10-unit apartment building occupies a single parcel at 1019, 1021, and 1023 Allen Avenue in St. Louis. Constructed in 1901, the 7,680-square-foot red-brick property contains three 1BR/1BA units, three 1BR/1.5BA units, two 2BR/2.5BA townhome-style lofts, and two studios. Each residence is furnished and includes a full kitchen, in-unit laundry, smart TV, queen beds, electronic locks, and owner-paid high-speed internet. Building systems include forced-air heating, central air, natural gas, electric cooling, and public water.
The property is 100% occupied and supports long-term, mid-term furnished, short-term, or hybrid rental operation. One unit has been operated as an Airbnb since February 2023. Located in Soulard, the asset is near SSM Health SLU Hospital, Cardinal Glennon Children's, and the Barnes-Jewish / Washington University medical campus, each described as minutes away. The reported cap rate is 7.25% based on actual trailing performance. Short-term-rental permitting, square footage, and operating figures are subject to buyer verification.
The property is 100% occupied and supports long-term, mid-term furnished, short-term, or hybrid rental operation. One unit has been operated as an Airbnb since February 2023. Located in Soulard, the asset is near SSM Health SLU Hospital, Cardinal Glennon Children's, and the Barnes-Jewish / Washington University medical campus, each described as minutes away. The reported cap rate is 7.25% based on actual trailing performance. Short-term-rental permitting, square footage, and operating figures are subject to buyer verification.
Key Highlights
- 10 fully furnished units in a 7,680‑square‑foot 1901 red‑brick building
- Unit mix includes three 1BR/1BA, three 1BR/1.5BA, two 2BR/2.5BA lofts, and two studios
- 100% occupied with long‑term, mid‑term, short‑term, or hybrid operating options
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
$71,470
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
3.80%
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%
$1,429,400
$1.4M
Cap Rate 7%
$1,021,000
$1.0M
Cap Rate 9%
$794,111
$794.1K
Market Conditions
NOI Build-Up for 7,680 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
$138.2K $18.00/SF
− Vacancy
−$8.3K −$1.08/SF
EGI
$129.9K $16.92/SF
− OpEx
−$58.5K −$7.61/SF
NOI
$71.5K $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%
$1,429,400
Cap Rate 7%
$1,021,000
Cap Rate 9%
$794,111
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$893.4K – $1.19M
NOI $71,470 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,378 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
100%
Occupancy
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
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Ten individually renovated residences offer furnished layouts, private laundry, full kitchens, and flexible rental strategies.
Where is this apartment building located?
The property is located at 1019 Allen Avenue St 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 units in a 7,680‑square‑foot 1901 red‑brick building; Unit mix includes three 1BR/1BA, three 1BR/1.5BA, two 2BR/2.5BA lofts, and two studios; 100% occupied with long‑term, mid‑term, short‑term, or hybrid operating options
