4-Unit Residential Income
For Sale
$595,000
2009 S 11th St St, Louis, MO 63104
Four residential units include a vacant unit and renovated setup with off-street parking and a shared backyard.
Property Size3,426 SF
Price / SF$173.67
Days on Market84
Property Features for 2009 S 11th St St
General Information
Standard status
Active
Size
3,426 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1885
Tenancy
Multi
Listing Agency:
Garcia Properties
Listed By:
Jenifer Garcia · License #2011006921
Source:
Gracestreetrealty
Added: Jun 17
Changed: Sep 8
Last Checked: Sep 8 at 7:42AM
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 Garcia Properties
Investment Insights
Based on property information with market context.
This 4-unit residential income property is set up for owner-occupancy with one unit vacant for immediate move-in. The building features a classic first-floor layout with living room, kitchen, and a private bedroom in each first-floor unit, while the upstairs units are configured as two-story, townhome-style apartments with kitchen, living room, and a bedroom on the main floor and a second bedroom plus a full bath on the upper level. The property was completely renovated as part of a historic renovation in the 1990s, with additional system updates reported since then.
The address is 2009 South 11th Street in St. Louis, Missouri, and the property includes off-street parking described as car- and golf-cart-friendly, along with a large backyard.
With one unit available to occupy and the remaining units positioned for rental use, the building offers a straightforward multi-family configuration supported by prior renovations and ongoing system updates.
The address is 2009 South 11th Street in St. Louis, Missouri, and the property includes off-street parking described as car- and golf-cart-friendly, along with a large backyard.
With one unit available to occupy and the remaining units positioned for rental use, the building offers a straightforward multi-family configuration supported by prior renovations and ongoing system updates.
Key Highlights
- 1885‑built Soulard 4‑family with one vacant unit, allowing potential move‑in and rent collection at the same time
- Complete historic renovation in the 1990s with additional system updates since then
- Upstairs units are 2‑story, townhome‑style layouts with kitchen/living/bedroom on main level plus second bedroom and full bath upstairs
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
$36,636
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
6.16%
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%
$732,720
$732.7K
Cap Rate 7%
$523,371
$523.4K
Cap Rate 9%
$407,067
$407.1K
Market Conditions
NOI Build-Up for 3,426 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
$55.5K $16.20/SF
− Vacancy
−$3.2K −$0.92/SF
EGI
$52.3K $15.28/SF
− OpEx
−$15.7K −$4.58/SF
NOI
$36.6K $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%
$732,720
Cap Rate 7%
$523,371
Cap Rate 9%
$407,067
Alternative Uses
Best Use
Multifamily LT 5
$523.4K
$458.0K – $610.6K
NOI $36,636 @ 7.0% cap · market cap 6.16%
Second Best
Apartment 5plus
$455.5K
$398.5K – $531.4K
NOI $31,882 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$735.3K
$643.4K – $857.8K
NOI $51,470 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,005
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include a vacant unit and renovated setup with off-street parking and a shared backyard.
Where is this quadplex located?
The property is located at 2009 S 11th St St Louis, MO.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 1885‑built Soulard 4‑family with one vacant unit, allowing potential move‑in and rent collection at the same time; Complete historic renovation in the 1990s with additional system updates since then; Upstairs units are 2‑story, townhome‑style layouts with kitchen/living/bedroom on main level plus second bedroom and full bath upstairs
