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    Turnkey 9-Unit Multifamily with Retail Title is generated by Realmo AI

    3659 S Broadway St, Louis, MO 63118

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    For Sale
    $675,000

    5 Family or More, Traditional - St Louis, MO

    Lot size:
    0.22 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 6:06 pm

    Property Features for 3659 S Broadway St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active
    APN
    1552-05-0140-7
    Lot size
    0.22 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    1750

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Multi Units

    Building Details

    Year built
    1910
    Number of units
    9
    Flooring type
    Hardwood
    Building materials
    Brick
    Architectural style
    New Traditional

    We can help!

    Listing Contact
    Jonathan Braun

    Listing agent Jonathan Braun License #2019034921

    Listing office EXP Realty, LLC 3636 S Geyer Rd Ste 100, Overland Park, MO

    Listing date Jun 3, 2026

    MLS# 25045848 Listing URL

    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.

    HighLights

    • Turnkey 9‑family building plus commercial space, offering immediate cash flow.
    • 8 of 9 units are currently rented at $750/month with summer leases.
    • Fully renovated with new electric meters, water heaters, electrical, plumbing, drywall, and hybrid mini splits, ensuring low maintenance.
    • Each unit features new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups with stackable washer/dryers.
    • Includes a 4‑bay commercial building with potential to convert to residential units for increased cash flow.
    • Located minutes from I‑55, Anheuser Busch, and Lemp Brewery.

    Overview

    This renovated 9-family building includes an in-front commercial structure with 4 bays, offered as part of the same sale. The residential units feature updated interiors with new hardwood flooring, white shaker cabinets, gas stovetops, refrigerators, and laundry hookups with stackable washer/dryer in dedicated closets. The property was modernized throughout with new electric meters, new water heaters, brand-new electrical and plumbing, new drywall, and hybrid mini-splits. Each unit also has access to dedicated storage lockers in the basement, and private rear access is provided for all units. The building is positioned behind the commercial space for added separation between the residential and commercial areas.

    Located in South City, the property is described as minutes from I-55, Anheuser Busch, and Lemp Brewery, supporting convenient access for tenants and customers.

    As presented, 8 of the 9 residential units are currently rented at $750 per month, with one unit owner occupied. The commercial portion is included in the sale, and the remarks note the units can be converted to additional residential use, subject to applicable approvals. With multiple recent upgrades and a tenant-occupied mix, this offering is well suited for an owner-operator or investor seeking a turnkey residential income asset paired with on-site commercial space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Louis
    County
    St. Louis
    State
    Missouri
    Longitude
    -90.221278
    Latitude
    38.589672

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    FAQs

    What type of property is this?
    Apartment building - Fully renovated 9-family property with attached front commercial space, plus private rear access for each unit.
    Where is this apartment building located?
    The property is located at 3659 S Broadway St Louis, MO.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Turnkey 9‑family building plus commercial space, offering immediate cash flow.; 8 of 9 units are currently rented at $750/month with summer leases.; Fully renovated with **new electric meters, water heaters, electrical, plumbing, drywall, and hybrid mini splits**, ensuring low maintenance.
    (636) 432-2008
    We can help!
    Listing Contact
    Jonathan Braun
    Real Estate License ID: 2019034921
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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