Fully Renovated Brick
For Sale
$650,000
1850 Russell Boulevard St, Louis, MO 63104
MULTI_FAMILY - Other - St Louis, MO
Property Size5,508 SF
Lot Size0.13 Acres
Price / SF$118.01
Days on Market34
Property Features for 1850 Russell Boulevard St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 2, Bedroom 1, Bedroom 8, Bathroom 6, Basement, Bedroom 7, Bathroom 4, Bathroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 5
Subdivision
Allens Lafayette Park Add
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
russell
Standard status
Active
APN
1337-00-0020-0
Size
5,508 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5122
Utilities
Cooling system
Central Air
Building Details
Year built
1911
Building materials
Brick
Architectural style
Other
Listing Agency:
Invest St. Louis
(314) 325-6201
Listed By:
Mike Shepherd · License #2010038439
(314) 255-5117
Added: Jul 10
Changed: Aug 2
Last Checked: Aug 12 at 8:06AM
MLS# 26010749
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 fully renovated brick four-family (quadplex) includes two 3 bed / 2 bath units and two 1 bed / 1 bath units. The property was renovated in 2020. Each unit features a large living room with a fireplace and hardwood floors, with the living room opening into an eat-in kitchen. Kitchens include stainless steel appliances, updated cabinetry and countertops, a dishwasher, and in-unit laundry. Bathrooms were updated with subway tile, fresh gray vanities, and brand-new hardware. Bedrooms include ceiling fans and large windows for natural lighting.
Additional improvements described include updated PVC stacks, PECs water lines, updated electric, newer furnaces and AC condensers, and newer water heaters, along with decorative exposed brick. The property is located at 1850 Russell Boulevard in St. Louis City, MO and has an estimated 5,508 square feet on a 0.1304-acre lot. All units are occupied, and an accepted contract is required before showing.
The quadplex configuration and unit mix can support a variety of residential rental needs while maintaining a consistent interior renovation package across all four units.
Additional improvements described include updated PVC stacks, PECs water lines, updated electric, newer furnaces and AC condensers, and newer water heaters, along with decorative exposed brick. The property is located at 1850 Russell Boulevard in St. Louis City, MO and has an estimated 5,508 square feet on a 0.1304-acre lot. All units are occupied, and an accepted contract is required before showing.
The quadplex configuration and unit mix can support a variety of residential rental needs while maintaining a consistent interior renovation package across all four units.
Key Highlights
- Brick four‑family quadplex with four fully renovated units completed in 2020
- Two 3 bed / 2 bath units and two 1 bed / 1 bath units
- Hardwood floors and living room fireplaces in each unit
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
$58,900
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
9.06%
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%
$1,178,000
$1.2M
Cap Rate 7%
$841,429
$841.4K
Cap Rate 9%
$654,444
$654.4K
Market Conditions
NOI Build-Up for 5,508 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
$89.2K $16.20/SF
− Vacancy
−$5.1K −$0.92/SF
EGI
$84.1K $15.28/SF
− OpEx
−$25.2K −$4.58/SF
NOI
$58.9K $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%
$1,178,000
Cap Rate 7%
$841,429
Cap Rate 9%
$654,444
Alternative Uses
Best Use
Multifamily LT 5
$841.4K
$736.3K – $981.7K
NOI $58,900 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$732.2K
$640.7K – $854.3K
NOI $51,257 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$1.18M
$1.03M – $1.38M
NOI $82,748 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,145
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?
Quadplex - Brick quadplex with four renovated units, central air, in-unit laundry, and all units currently occupied.
Where is this quadplex located?
The property is located at 1850 Russell Boulevard St Louis, MO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Brick four‑family quadplex with four fully renovated units completed in 2020; Two 3 bed / 2 bath units and two 1 bed / 1 bath units; Hardwood floors and living room fireplaces in each unit
