Turn-Key Apartments in
2317 S 10th St St., Louis, MO 63104
Six apartments near Soulard Farmers Market with upside potential.
Type:Multifamily
Property size:
4,410 SFPrice / SF:
$145/SF- Added:
- Mar 19, 2026
- Days on Market:
- 64
- Last Refresh:
- Mar 20 at 8:46 pm
Property Features for 2317 S 10th St St.
General Information
- Standard status
- Active
- Size
- 4,410 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1888
Listing agent Jenifer Garcia License #MO 2011006921
Listing office Garcia Properties
Listing date Mar 19, 2026
Source Crexi
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
HighLights
- Prime Location: Steps from Mardi Gras, Soulard Farmers Market, bars, and restaurants.
- Turn‑Key Operation: Six fully operational apartments, professionally managed and ready for immediate income.
- Balanced Unit Mix: Features a mix of 1‑bedroom and 2‑bedroom units appealing to a wide range of tenants.
- Value‑Add Potential: Cosmetic improvements can increase rents and boost returns.
- Unique Features: Includes wood‑burning stoves and in‑unit laundry.
- Solid Fundamentals: Originally renovated in the 1990s, offering proven rental demand.
Overview
This property features six turn-key apartments situated in the Soulard neighborhood. The location is near Mardi Gras festivities, the historic Soulard Farmers Market, and various bars and restaurants. The property includes a four-family building in the front and a two-family building in the rear. The unit mix consists of three 1-bedroom/1-bath apartments and three 2-bedroom units, with two of the 2-bedroom units having 1.5 baths and the third having 2 baths. Originally renovated in the early 1990s, the building has been professionally managed, ensuring consistent upkeep and stable operations. Features include wood-burning stoves and in-unit laundry. Cosmetic improvements, such as flooring, lighting, and paint, could increase rents and boost overall returns. The property offers low complexity, a strong location, proven rental demand, and long-term appreciation potential.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$456.0K
NOI $41,039 @ 9.00% cap · cautious / downside scenario
Moderate
$586.3K
NOI $41,039 @ 7.00% cap · market / base-case scenario
Aggressive
$820.8K
NOI $41,039 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.4k | $18.00 |
| − Vacancy | −$4.8k | −$1.08 |
| EGI | $74.6k | $16.92 |
| − OpEx | −$33.6k | −$7.61 |
| NOI | $41.0k | $9.31 |
4,410 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$586.3K
$513.0K – $684.0K
NOI $41,039 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$946.5K
$828.2K – $1.10M
NOI $66,252 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
The student center
High School
Location Insight
- Map
- Local Demand
- City
- Louis
- County
- St. Louis
- State
- Missouri
- Longitude
- -90.207453
- Latitude
- 38.604863
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six apartments near Soulard Farmers Market with upside potential.
Where is this apartment building located?
The property is located at 2317 S 10th St St. Louis, MO.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Prime Location: Steps from Mardi Gras, Soulard Farmers Market, bars, and restaurants.; Turn‑Key Operation: Six fully operational apartments, professionally managed and ready for immediate income.; Balanced Unit Mix: Features a mix of 1‑bedroom and 2‑bedroom units appealing to a wide range of tenants.
