Four-Unit Residential Income
For Sale
$520,000
Pending
2116 Portis Ave, Saint Louis, MO 63110
Well-maintained four-unit building with central heat and cooling, laundry hook-ups, and rear tenant parking.
Property Size3,400 SF
Days on Market43
Property Features for 2116 Portis Ave
General Information
Standard status
Pending
Size
3,400 SF
Property subtype
Residential Income
Occupancy
75%
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,484
Amenities
Central heating and cooling
Laundry hook-ups
Newer roof
Updated kitchen and bathrooms
Hardwood floors
Vinyl windows
Rear parking for tenants
Building Details
Tenancy
Multi
Listing Agency:
Invest St. Louis
(314) 662-6453
Listed By:
Mike Shepherd · License #2010038439
(314) 662-6453
Source:
Exprealty
Added: Jul 20
Changed: Aug 25
Last Checked: Aug 30 at 11:54PM
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.
This four-family residential income property is a well-maintained building with four large one-bedroom units. Each unit includes central heating and cooling, and laundry hook-ups are provided in the basement. The building has a newer roof and includes updates such as updated kitchens and bathrooms, hardwood floors, and vinyl windows, along with a rear parking area for tenants.
The property is located in the Southwest Garden neighborhood and is described as being just minutes from several area destinations, including Missouri Botanical Garden, Barnes Hospital, WashU Medical School, Forest Park, and Tower Grove Park.
The building totals 3,400 square feet and includes four one-bedroom units, with one unit currently vacant and suitable for an owner-occupant.
The property is located in the Southwest Garden neighborhood and is described as being just minutes from several area destinations, including Missouri Botanical Garden, Barnes Hospital, WashU Medical School, Forest Park, and Tower Grove Park.
The building totals 3,400 square feet and includes four one-bedroom units, with one unit currently vacant and suitable for an owner-occupant.
Key Highlights
- 1925‑built four‑family building with 3,400 sq. ft. total and four large 1‑bedroom units (~800 sq. ft. each).
- One unit is currently vacant, offering an option for an owner‑occupant while others remain rented/updated.
- Each unit has central heating and cooling.
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
$36,358
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
6.99%
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%
$727,160
$727.2K
Cap Rate 7%
$519,400
$519.4K
Cap Rate 9%
$403,978
$404.0K
Market Conditions
NOI Build-Up for 3,400 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
$55.1K $16.20/SF
− Vacancy
−$3.1K −$0.92/SF
EGI
$51.9K $15.28/SF
− OpEx
−$15.6K −$4.58/SF
NOI
$36.4K $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%
$727,160
Cap Rate 7%
$519,400
Cap Rate 9%
$403,978
Alternative Uses
Best Use
Multifamily LT 5
$519.4K
$454.5K – $606.0K
NOI $36,358 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$452.0K
$395.5K – $527.3K
NOI $31,640 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$729.7K
$638.5K – $851.3K
NOI $51,079 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
747
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 - Well-maintained four-unit building with central heat and cooling, laundry hook-ups, and rear tenant parking.
Where is this quadplex located?
The property is located at 2116 Portis Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 1925‑built four‑family building with 3,400 sq. ft. total and four large 1‑bedroom units (~800 sq. ft. each).; One unit is currently vacant, offering an option for an owner‑occupant while others remain rented/updated.; Each unit has central heating and cooling.
