Updated 8-Unit Brick Apartment
For Sale
Contact for pricing
2900-2906 Pestalozzi St., Louis, MO 63118
Fully renovated 8-unit brick building with in-unit laundry, keyless entry, and 2021 mechanical and roof upgrades.
Property Size6,400 SF
Lot Size0.14 Acres
Price / SF$112.34
Days on Market70
Property Features for 2900-2906 Pestalozzi St.
General Information
Standard status
Active
Size
6,400 SF
Lot size
0.14 Acres
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$59,554
Additional Details
Multifamily Units
8
Building Details
Year Built
1927
Year Renovated
2021
Units
8
Tenancy
Multi
Listing Agency:
Wood Brothers Realty
(314) 353-8888
Listed By:
Patrick Wood · License #2004025204
Source:
Crexi
Added: Jun 4
Changed: Aug 11
Last Checked: Aug 11 at 2:05PM
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 Wood Brothers Realty
Investment Insights
Based on property information with market context.
This fully updated 8-unit brick apartment building was built in 1927 and renovated throughout in 2021. The property contains eight 1-bedroom, 1-bath units, each with approximately 750 square feet of modern living space. Kitchens include granite countertops and stainless steel appliances, including gas stoves, refrigerators, microwaves, and dishwashers. Each unit also features an in-unit washer and dryer, along with keyless locks. Major 2021 upgrades include new condensers, PVC plumbing, sewer laterals, and a TPO roof, supporting a consistent, move-in-ready configuration across the building.
Located in the historic Tower Grove East neighborhood, the property is about 1.5 miles from Tower Grove Park. The surrounding area offers neighborhood dining and coffee options for tenants, with convenient access to South Grand amenities.
For investors or owner-operators seeking a residential income property with recent interior and systems improvements, the building’s updated unit package and shared 2021 exterior and mechanical work are practical advantages. The combination of larger, updated 1-bedroom layouts and in-unit laundry can be attractive to prospective residents looking for added everyday convenience.
Located in the historic Tower Grove East neighborhood, the property is about 1.5 miles from Tower Grove Park. The surrounding area offers neighborhood dining and coffee options for tenants, with convenient access to South Grand amenities.
For investors or owner-operators seeking a residential income property with recent interior and systems improvements, the building’s updated unit package and shared 2021 exterior and mechanical work are practical advantages. The combination of larger, updated 1-bedroom layouts and in-unit laundry can be attractive to prospective residents looking for added everyday convenience.
Key Highlights
- Fully updated 8‑unit brick apartment building built in 1927, totaling 6,400 SF on a 6,288 SF lot (0.144 acres).
- Unit mix: 8 one‑bedroom, one‑bath units, each with 750 SF of modern living space.
- All units renovated in 2021 with granite countertops and stainless steel appliances, including gas stoves, refrigerators, microwaves, and dishwashers.
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
$59,558
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
8.28%
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%
$1,191,160
$1.2M
Cap Rate 7%
$850,829
$850.8K
Cap Rate 9%
$661,756
$661.8K
Market Conditions
NOI Build-Up for 6,400 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
$115.2K $18.00/SF
− Vacancy
−$6.9K −$1.08/SF
EGI
$108.3K $16.92/SF
− OpEx
−$48.7K −$7.61/SF
NOI
$59.6K $9.31/SF
Area
St. Louis County, MO
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,191,160
Cap Rate 7%
$850,829
Cap Rate 9%
$661,756
Alternative Uses
Best Use
Apartment 5plus
$850.8K
$744.5K – $992.6K
NOI $59,558 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $96,149 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,433
Businesses Nearby
Explore this area
Business Placement
Demographics for 63118, MO
25,194
Population
14,770
Households
1.7
Avg Household Size
34
Median Age
38%
College-Educated
87%
High-School Grad
3.4 sq mi
ZIP Area
7,410
Density / Sq Mi
$57,268
Median Household Income
$44,717
Median Earnings
$952
Median Rent
$210,900
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?
Apartment building - Fully renovated 8-unit brick building with in-unit laundry, keyless entry, and 2021 mechanical and roof upgrades.
Where is this apartment building located?
The property is located at 2900-2906 Pestalozzi St. Louis, MO.
What is the asking price?
The asking price for this property is $719,000.
What are key features of this property?
This property features: Fully updated 8‑unit brick apartment building built in 1927, totaling 6,400 SF on a 6,288 SF lot (0.144 acres).; Unit mix: 8 one‑bedroom, one‑bath units, each with 750 SF of modern living space.; All units renovated in 2021 with granite countertops and stainless steel appliances, including gas stoves, refrigerators, microwaves, and dishwashers.
