Updated Four-Unit Apartment
New
For Sale
$530,000
2301 S 11th Street St, Louis, MO 63104
Historic character, established leases, and shared courtyard space distinguish this residential income property.
Property Size3,600 SF
Days on Market3
Property Features for 2301 S 11th Street St
General Information
Standard status
Active
Size
3,600 SF
Property subtype
2-4 Units
Occupancy
100%
Units
Unit Mix
2 x 1BR, 2 x 2BR
Multifamily Units
4
Additional Details
Gross Income
$47,760
Taxes and HOA fees
Annual Taxes
$2,464
Amenities
courtyard
Building Details
Building Size
3,600 SF
Year Built
1888
Buildings
1
Tenancy
Multi
Listing Agency:
Nettwork Global
(314) 403-3283
Listed By:
Joe Geary · License #2018025898
Source:
Thewellsmichaelcollective
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 23 at 8:48AM
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 Nettwork Global
Investment Insights
Based on property information with market context.
Built in 1888, this four-unit apartment property combines updated interiors with the architectural character associated with its historic construction. The unit mix includes two 1-bedroom residences and two 2-bedroom residences, providing a balanced configuration across the building. All units are occupied under long-term leases, and an exterior stairwell serves the upper residences.
A rear courtyard gives residents dedicated outdoor space. The property is located in Soulard, with restaurants, entertainment, parks, and other neighborhood amenities nearby. Its four-unit layout, varied bedroom mix, and existing tenancy create a straightforward multifamily configuration for continued residential use.
A rear courtyard gives residents dedicated outdoor space. The property is located in Soulard, with restaurants, entertainment, parks, and other neighborhood amenities nearby. Its four-unit layout, varied bedroom mix, and existing tenancy create a straightforward multifamily configuration for continued residential use.
Key Highlights
- Four‑unit building with two 1‑bedroom units and two 2‑bedroom units
- All four units occupied with long‑term leases in place
- Updated residences retain character from the 1888 construction
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
$38,497
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
7.26%
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%
$769,940
$769.9K
Cap Rate 7%
$549,957
$550.0K
Cap Rate 9%
$427,744
$427.7K
Market Conditions
NOI Build-Up for 3,600 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
$58.3K $16.20/SF
− Vacancy
−$3.3K −$0.92/SF
EGI
$55.0K $15.28/SF
− OpEx
−$16.5K −$4.58/SF
NOI
$38.5K $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%
$769,940
Cap Rate 7%
$549,957
Cap Rate 9%
$427,744
Alternative Uses
Best Use
Multifamily LT 5
$550.0K
$481.2K – $641.6K
NOI $38,497 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$478.6K
$418.8K – $558.4K
NOI $33,502 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$772.6K
$676.1K – $901.4K
NOI $54,084 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,023
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 - Historic character, established leases, and shared courtyard space distinguish this residential income property.
Where is this quadplex located?
The property is located at 2301 S 11th Street St Louis, MO.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Four‑unit building with two 1‑bedroom units and two 2‑bedroom units; All four units occupied with long‑term leases in place; Updated residences retain character from the 1888 construction
