Four-Unit Apartment
For Sale
$370,000
3644-3646 Bates Street, Saint Louis, MO 63116
Basement laundry areas and rear parking serve the four occupied residences.
Property Size3,552 SF
Price / SF$104.17
Days on Market79
Property Features for 3644-3646 Bates Street
General Information
Standard status
Active
Size
3,552 SF
Total Parking Spaces
4
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$35,627
Financials
Cap Rate
7%
Gross Income
$46,020
Additional Details
Highway Access
Yes
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,161
Amenities
laundry area
Ceiling Fan(s)
Eat-in Kitchen
Building Details
Building Size
3,552 SF
Year Built
1927
Buildings
1
Stories
2
Units
4
Listing Agency:
EXP Realty, LLC
(866) 224-1761
Listed By:
Christoph Dewald · License #2020037702
(636) 232-1614
Source:
Flowershomerealty
Added: Aug 13
Changed: Oct 29
Last Checked: Oct 29 at 10:41PM
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 EXP Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,552-square-foot multifamily building, constructed in 1927, contains four occupied rental units. Each residence has a basement laundry area with a washer and dryer. A TPO roof was installed in 2024, and private parking is available behind the building, with additional on-street parking nearby.
The property is in Holly Hills, with highway access, Carondelet Park, and shopping in the surrounding area. The reported cap rate is 7%.
The property is in Holly Hills, with highway access, Carondelet Park, and shopping in the surrounding area. The reported cap rate is 7%.
Key Highlights
- Four occupied rental units in a 3,552‑square‑foot building
- TPO roof installed in 2024
- Basement laundry area with washer and dryer in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,055
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,100
$661.1K
Cap Rate 7%
$472,214
$472.2K
Cap Rate 9%
$367,278
$367.3K
Market Conditions
NOI Build-Up for 3,552 SF
Gross rent
$63.9K $18.00/SF
− Vacancy
−$3.8K −$1.08/SF
EGI
$60.1K $16.92/SF
− OpEx
−$27.0K −$7.61/SF
NOI
$33.1K $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 Rate 5%
$661,100
Cap Rate 7%
$472,214
Cap Rate 9%
$367,278
Alternative Uses
Best Use
Multifamily LT 5
$542.6K
$474.8K – $633.1K
NOI $37,984 @ 7.0% cap · market cap 10.27%
Second Best
Apartment 5plus
$472.2K
$413.2K – $550.9K
NOI $33,055 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$762.3K
$667.0K – $889.4K
NOI $53,363 @ 7.0% cap · market cap 14.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
469
Businesses Nearby
Explore this area
Business Placement
Demographics for 63116, MO
41,959
Population
22,394
Households
1.9
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
7,770
Density / Sq Mi
$60,193
Median Household Income
$42,012
Median Earnings
$946
Median Rent
$161,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Basement laundry areas and rear parking serve the four occupied residences.
Where is this multifamily property located?
The property is located at 3644-3646 Bates Street Saint Louis, MO.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Four occupied rental units in a 3,552‑square‑foot building; TPO roof installed in 2024; Basement laundry area with washer and dryer in each unit
