Florissant Four-Family Investment
2 Bruce Drive Florissant, MO 63031
2 Bruce Drive, Florissant, MO, 63031
$375,000
For Sale
$375,000
Renovated four-family building in Florissant with income growth potential.
Property Size3,536 SF
Price / SF$106.05
Days on Market60
Property Features for 2 Bruce Drive
General Information
- Standard status
- Active
- Size
- 3,536 SF
- Property subtype
- MultiFamily Apartments
Building Details
- Year Built
- 1963
Listing Agency
Invest St. Louis
(314) 225-5117
Listed by
Jordan Schoen
(314) 225-5117
Source
Thebrokerlist
Added: May 18 Checked: Jul 16 at 2:18 am
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 Invest St. Louis
Investment Insights
Based on property information with market context.
Located on a quiet cul-de-sac in Florissant, Missouri, this four-family building is part of a larger 44-unit apartment complex. The complex has undergone extensive renovations between 2023 and 2026, with over $2.2 million in capital improvements completed throughout the property. The building features 2-bedroom units and a total area of 3,536 square feet. It includes a pitched roof, central heating and cooling, and spacious common areas. Each four-family building includes five off-street parking spaces. Units offer washer and dryer hookups, with additional potential to add shared laundry facilities. All four units within the building feature similar updates, providing consistency in layout and finishes across the property. Upgrades include improvements to electrical systems, common areas, windows, water heaters, furnaces, and condensers. Current rents are below market, presenting an opportunity for future rent growth. The buildings are located within a designated flood zone. Conveniently located near Lambert International Airport and major employers such as Boeing and Amazon, the property benefits from strong employment drivers in the surrounding area. The City of Florissant has acquired adjacent land for a planned future park development, which will further enhance the surrounding area.
Key Highlights
- Significant value‑add opportunity with below‑market rents.
- Extensive recent renovations with over $2.2 million in capital improvements.
- Part of a larger complex with opportunity to acquire up to 44 units.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.6k | $18.00 |
| − Vacancy | −$3.8k | −$1.08 |
| EGI | $59.8k | $16.92 |
| − OpEx | −$26.9k | −$7.61 |
| NOI | $32.9k | $9.31 |
3,536 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$540.2K
$472.7K – $630.2K
NOI $37,813 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$470.1K
$411.3K – $548.4K
NOI $32,906 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$758.9K
$664.0K – $885.4K
NOI $53,122 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Renovated four-family building in Florissant with income growth potential.
Where is this quadplex located?
The property is located at 2 Bruce Drive Florissant, MO.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Significant value‑add opportunity with below‑market rents.; Extensive recent renovations with over $2.2 million in capital improvements.; Part of a larger complex with opportunity to acquire up to 44 units.
