Furnished Apartment
New
For Sale
$1,882,400
1019 Allen Avenue St, Louis, MO 63104
MULTI_FAMILY - Other - St Louis, MO
Property Size7,680 SF
Lot Size0.09 Acres
Price / SF$245.10
Days on Market4
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
Bedroom 3, Bathroom 5, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 4, Bathroom 1
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
Natural Gas, Forced Air
Cooling system
Electric, Central Air, Gas (Cooling)
Water source
Public
Amenities
in-unit laundry
full kitchen
smart TV
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) 280-9996
Added: Aug 7
Changed: Aug 8
Last Checked: Aug 10 at 7:06AM
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 1901 brick apartment building contains ten individually renovated, fully furnished residences on a single parcel. The 7,680-square-foot property includes three one-bedroom, one-bath units; three one-bedroom units with 1.5 baths; two two-bedroom, 2.5-bath townhome-style lofts; and two studios. Each residence includes a full kitchen, in-unit laundry, smart TV, queen beds, electronic locks, and owner-paid high-speed internet. Public water, natural-gas forced-air heat, and central air serve the building.
The property is located in Soulard at 1019, 1021, and 1023 Allen Avenue in St. Louis. It is 100% occupied and has a stated 7.25% cap rate based on trailing operating performance. Operating options identified for the residences include conventional leases, furnished stays of 30 days or more, short-term rentals, or a combination of formats. SSM Health SLU Hospital, Cardinal Glennon Children's, and the Barnes-Jewish / Washington University medical campus are minutes away.
The property is located in Soulard at 1019, 1021, and 1023 Allen Avenue in St. Louis. It is 100% occupied and has a stated 7.25% cap rate based on trailing operating performance. Operating options identified for the residences include conventional leases, furnished stays of 30 days or more, short-term rentals, or a combination of formats. SSM Health SLU Hospital, Cardinal Glennon Children's, and the Barnes-Jewish / Washington University medical campus are minutes away.
Key Highlights
- Ten fully furnished, individually renovated apartment residences
- 7,680‑square‑foot brick building constructed in 1901
- Unit mix includes studios, one‑bedroom apartments, and two‑bedroom townhome‑style lofts
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
Current Use
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
966
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 - Furnished residences support long-, mid-, and short-term operating formats.
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: Ten fully furnished, individually renovated apartment residences; 7,680‑square‑foot brick building constructed in 1901; Unit mix includes studios, one‑bedroom apartments, and two‑bedroom townhome‑style lofts
