Updated Four-Unit Apartment
For Sale
$364,900
2639 Brannon Ave, Saint Louis, MO 63139
All four units offer one bedroom and one bathroom, with recent mechanical and exterior updates.
Property Size2,376 SF
Price / SF$153.58
Days on Market17
Property Features for 2639 Brannon Ave
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$2,776
Listing Agency:
Knight and Drews LLC
(314) 303-9031
Listed By:
Mandy Watkins
(314) 303-9031
Source:
Exprealty
Added: Aug 5
Changed: Aug 20
Last Checked: Aug 20 at 10:12AM
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 Knight and Drews LLC
Investment Insights
Based on property information with market context.
This four-unit apartment property contains 2376 square feet with a consistent layout across the building: each residence has one bedroom and one bathroom. Recent improvements include new water heaters, new furnaces, and rear decking, adding updated building components and exterior functionality.
The property is located at 2639 Brannon Ave in Saint Louis, where Southwest Garden meets The Hill. One tenant is expected to move out within the next 30 days, creating a near-term change in occupancy for the property.
The property is located at 2639 Brannon Ave in Saint Louis, where Southwest Garden meets The Hill. One tenant is expected to move out within the next 30 days, creating a near-term change in occupancy for the property.
Key Highlights
- Four‑unit apartment property totaling 2376 SF
- All units feature 1 bedroom and 1 bathroom
- New water heaters installed
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
$25,408
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
6.96%
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%
$508,160
$508.2K
Cap Rate 7%
$362,971
$363.0K
Cap Rate 9%
$282,311
$282.3K
Market Conditions
NOI Build-Up for 2,376 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
$38.5K $16.20/SF
− Vacancy
−$2.2K −$0.92/SF
EGI
$36.3K $15.28/SF
− OpEx
−$10.9K −$4.58/SF
NOI
$25.4K $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%
$508,160
Cap Rate 7%
$362,971
Cap Rate 9%
$282,311
Alternative Uses
Best Use
Multifamily LT 5
$363.0K
$317.6K – $423.5K
NOI $25,408 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$315.9K
$276.4K – $368.5K
NOI $22,111 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$509.9K
$446.2K – $594.9K
NOI $35,695 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Explore this area
Business Placement
Demographics for 63139, MO
21,971
Population
12,187
Households
1.8
Avg Household Size
38
Median Age
49%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
5,782
Density / Sq Mi
$74,749
Median Household Income
$52,298
Median Earnings
$1,086
Median Rent
$199,400
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 - All four units offer one bedroom and one bathroom, with recent mechanical and exterior updates.
Where is this quadplex located?
The property is located at 2639 Brannon Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $364,900.
What are key features of this property?
This property features: Four‑unit apartment property totaling 2376 SF; All units feature 1 bedroom and 1 bathroom; New water heaters installed
