4-Unit Quadplex with Private
New
For Sale
$535,000
10372 Parkman Drive, Saint Louis, MO 63123
Residential Income, Lakeshire, MO
Property Size3,514 SF
Lot Size0.17 Acres
Price / SF$152.25
Days on Market2
Property Features for 10372 Parkman Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 8, Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 5
Parking
4
Parking features
Underground/Basement, Driveway, Assigned
Exterior features
Balcony
Basement
Walk-Out Access, Unfinished
Appliances
Dishwasher, Electric Range, Refrigerator
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-63-0105
Size
3,514 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5735
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
composite deck
laundry hookups
storage unit
Building Details
Year built
1971
Floors in Building
2
Number of units
4
Flooring type
Carpet
Building materials
Brick, Concrete
Architectural style
Other
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Jeanette Bell
(314) 478-3240
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 2 at 11:06PM
MLS# 26063047
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 3,514-square-foot quadplex in Lakeshire contains four apartments, each configured with two bedrooms and one bathroom. The 0.1722-acre property includes a private composite deck for each unit, plus two tuck-under garages with two-car capacity apiece. Basement-level features also include laundry hookups and a separate storage area for every apartment.
Built in 1971, the property has received several updates since 2019. Composite decking and aluminum railings were added, and replacement cooling equipment was installed in Apartment B in June 2023 and Apartment C in June 2021. Apartment A received a replacement evaporator coil, while Apartment B has an upgraded window. The property is in the Lindbergh School District.
Built in 1971, the property has received several updates since 2019. Composite decking and aluminum railings were added, and replacement cooling equipment was installed in Apartment B in June 2023 and Apartment C in June 2021. Apartment A received a replacement evaporator coil, while Apartment B has an upgraded window. The property is in the Lindbergh School District.
Key Highlights
- Four apartments, each with 2 bedrooms and 1 bathroom
- 3,514 square feet on a 0.1722‑acre lot
- Two tuck‑under garages, each with 2‑car capacity
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
$37,577
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
7.02%
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%
$751,540
$751.5K
Cap Rate 7%
$536,814
$536.8K
Cap Rate 9%
$417,522
$417.5K
Market Conditions
NOI Build-Up for 3,514 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
$56.9K $16.20/SF
− Vacancy
−$3.2K −$0.92/SF
EGI
$53.7K $15.28/SF
− OpEx
−$16.1K −$4.58/SF
NOI
$37.6K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$751,540
Cap Rate 7%
$536,814
Cap Rate 9%
$417,522
Alternative Uses
Best Use
Multifamily LT 5
$536.8K
$469.7K – $626.3K
NOI $37,577 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$467.2K
$408.8K – $545.0K
NOI $32,701 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$754.2K
$659.9K – $879.9K
NOI $52,792 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has two bedrooms, a private deck, and access to basement-level laundry hookups and storage.
Where is this quadplex located?
The property is located at 10372 Parkman Drive Saint Louis, MO.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1 bathroom; 3,514 square feet on a 0.1722‑acre lot; Two tuck‑under garages, each with 2‑car capacity
