Restored Two-Unit Brick
For Sale
$249,900
3531 California Avenue St, Louis, MO 63118
MULTI_FAMILY - Other - St Louis, MO
Property Size2,464 SF
Lot Size0.09 Acres
Price / SF$101.42
Days on Market14
Property Features for 3531 California Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Basement, Bathroom 1, Bedroom 4
Parking features
Off Street, On Street
Interior features
Ceiling Fan(s), Dining/Living Room Combo, Eat-in Kitchen, High Ceilings, Kitchen/Dining Room Combo, Natural Woodwork, Open Floorplan, Shower
Fencing
Fenced
Fireplace
1
Basement
Full, Storage Space, Unfinished
Subdivision
Reeses Add
Elementary school
Froebel Elem.
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Directions
Southwest on Gravois Rd, east on Cherokee, right on California Ave.
Standard status
Active
APN
1571-00-0190-0
Size
2,464 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3037
Utilities
Heating system
Forced Air
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Amenities
original hardwood floors
loft-style high ceilings
faux fireplace
large windows
modern kitchens with stainless appliances
updated baths
in-unit laundry washer/dryer
Building Details
Year built
1904
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Brick
Roof type
Flat, Synthetic
Architectural style
Other
Listing Agency:
RE/MAX Results · RE/MAX International
(314) 951-1911
Listed By:
Terry Bordeleau · License #1999099489
(314) 781-7777
Added: Jul 30
Changed: Aug 1
Last Checked: Aug 12 at 12:06AM
MLS# 26049125
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This restored two-unit brick duplex offers spacious, open-layout apartments with hardwood flooring, high ceilings, large windows for natural light, and a faux fireplace. Each unit features two bedrooms and one bathroom, with tandem bedrooms for privacy. The in-unit laundry includes washers and dryer separated from the great room near the foyer area. Mechanical and interior improvements were completed in 2018, including the roof, appliances, fixtures, and all systems, described as about seven years old, along with modern kitchens with stainless appliances and updated bathrooms. Forced-air heating and central air are in place.
Parking includes a back pad plus on-street parking, and the property has fenced boundaries. The building was built circa 1904.
Set on a 0.0875-acre lot with 2,464 square feet, the duplex can work for an income-oriented owner-occupant or as a two-unit rental. The second-floor unit is described as recently ready for a new owner or tenant.
Parking includes a back pad plus on-street parking, and the property has fenced boundaries. The building was built circa 1904.
Set on a 0.0875-acre lot with 2,464 square feet, the duplex can work for an income-oriented owner-occupant or as a two-unit rental. The second-floor unit is described as recently ready for a new owner or tenant.
Key Highlights
- Built circa 1904 brick two‑unit duplex
- Restored in 2018 including roof, appliances, fixtures, and all systems described as about 7 years old
- Two‑bedroom, one‑bath units with hardwood floors, high ceilings, and large windows
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
$22,930
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
9.18%
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%
$458,600
$458.6K
Cap Rate 7%
$327,571
$327.6K
Cap Rate 9%
$254,778
$254.8K
Market Conditions
NOI Build-Up for 2,464 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
$44.4K $18.00/SF
− Vacancy
−$2.7K −$1.08/SF
EGI
$41.7K $16.92/SF
− OpEx
−$18.8K −$7.61/SF
NOI
$22.9K $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%
$458,600
Cap Rate 7%
$327,571
Cap Rate 9%
$254,778
Alternative Uses
Best Use
Multifamily LT 5
$376.4K
$329.4K – $439.2K
NOI $26,349 @ 7.0% cap · market cap 10.54%
Second Best
Apartment 5plus
$327.6K
$286.6K – $382.2K
NOI $22,930 @ 7.0% cap · market cap 9.18%
Theoretical Best
Office A
$528.8K
$462.7K – $617.0K
NOI $37,017 @ 7.0% cap · market cap 14.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
423
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?
Duplex - Brick two-unit duplex with hardwood floors, central air, and restored systems, roof, appliances, and fixtures in 2018.
Where is this duplex located?
The property is located at 3531 California Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Built circa 1904 brick two‑unit duplex; Restored in 2018 including roof, appliances, fixtures, and all systems described as about 7 years old; Two‑bedroom, one‑bath units with hardwood floors, high ceilings, and large windows
