Updated Four-Unit
For Sale
$950,000
1917 Alfred Ave, Saint Louis, MO 63110
Remodeled four-family property with matching layouts, modern kitchens, and full-size laundry equipment in every unit.
Property Size4,340 SF
Price / SF$218.89
Days on Market30
Property Features for 1917 Alfred Ave
General Information
Standard status
Active
Size
4,340 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,799
Amenities
full size washer & dryer
ceiling fans
open kitchen with island
dishwasher
electric range
refrigerator
stained glass windows
original hardwoods
Building Details
Year Renovated
2018
Buildings
1
Listing Agency:
Fathom Realty-St. Louis
(888) 455-6040
Listed By:
Kimberly Vavere
(888) 455-6040
Source:
Exprealty
Added: Jul 22
Changed: Aug 18
Last Checked: Aug 19 at 12:21PM
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 Fathom Realty-St. Louis
Investment Insights
Based on property information with market context.
This 4,340-square-foot quadplex contains four residences with a total of 8 bedrooms and 8 bathrooms. Each apartment follows the same floor plan and finish package, with an open kitchen, island, dishwasher, electric range, refrigerator, and full-size washer and dryer. Bedroom ceiling fans complement original hardwood floors and stained glass windows. A 2018 renovation included the TPO roof, plumbing, electrical, HVAC, and other major systems, while the windows were not replaced.
The property is directly across from the Missouri Botanical Garden and offers access to restaurants in Tower Grove, The Hill, and Shaw. Highway connections include Hwy 44 and Hwy 40/64. All four units have maintained consistent rental occupancy and were occupied at the time described in the property information.
The property is directly across from the Missouri Botanical Garden and offers access to restaurants in Tower Grove, The Hill, and Shaw. Highway connections include Hwy 44 and Hwy 40/64. All four units have maintained consistent rental occupancy and were occupied at the time described in the property information.
Key Highlights
- 4,340 SF quadplex with 4 units, 8 bedrooms, and 8 bathrooms
- 2018 renovation included TPO roof, plumbing, electric, and HVAC; windows were not replaced
- Identical unit layouts and finishes throughout the property
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
$46,410
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
4.89%
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%
$928,200
$928.2K
Cap Rate 7%
$663,000
$663.0K
Cap Rate 9%
$515,667
$515.7K
Market Conditions
NOI Build-Up for 4,340 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
$70.3K $16.20/SF
− Vacancy
−$4.0K −$0.92/SF
EGI
$66.3K $15.28/SF
− OpEx
−$19.9K −$4.58/SF
NOI
$46.4K $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%
$928,200
Cap Rate 7%
$663,000
Cap Rate 9%
$515,667
Alternative Uses
Best Use
Multifamily LT 5
$663.0K
$580.1K – $773.5K
NOI $46,410 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$577.0K
$504.9K – $673.1K
NOI $40,388 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$931.4K
$815.0K – $1.09M
NOI $65,201 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
Explore this area
Business Placement
Demographics for 63110, MO
18,199
Population
10,260
Households
1.8
Avg Household Size
33
Median Age
64%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,757
Density / Sq Mi
$73,809
Median Household Income
$55,340
Median Earnings
$1,183
Median Rent
$314,600
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 - Remodeled four-family property with matching layouts, modern kitchens, and full-size laundry equipment in every unit.
Where is this quadplex located?
The property is located at 1917 Alfred Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 4,340 SF quadplex with 4 units, 8 bedrooms, and 8 bathrooms; 2018 renovation included TPO roof, plumbing, electric, and HVAC; windows were not replaced; Identical unit layouts and finishes throughout the property
