Fully Renovated 12-Unit Apartment
For Sale
$1,750,000
Pending
3670 Russell Boulevard St, Louis, MO 63110
MULTI_FAMILY - Other - St Louis, MO
Property Size11,676 SF
Lot Size0.14 Acres
Days on Market61
Property Features for 3670 Russell Boulevard St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1
Exterior features
Balcony, Courtyard
Basement
Full, Interior Entry
Subdivision
Tyler Place Add
Elementary school
Shenandoah Elem.
Middle school
Fanning Middle Community Ed.
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Standard status
Pending
APN
4952-00-0010-0
Size
11,676 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9827
Utilities
Heating system
Forced Air, Electric (Heating)
Cooling system
Electric, Central Air
Amenities
in-unit laundry
rear porches
courtyard
Building Details
Year built
1908
Floors in Building
3
Number of units
12
Flooring type
Wood, Vinyl, Carpet, Concrete
Building materials
Brick
Architectural style
Other
Listing Agency:
Invest St. Louis
(314) 325-6201
Listed By:
Jordan Schoen · License ##2009024331
(314) 255-5117
Added: Jun 22
Changed: Aug 2
Last Checked: Aug 21 at 11:06AM
MLS# 26030407
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.
Fully renovated 12-unit apartment building with six 1-bedroom units and six 2-bedroom units. Renovations include complete bathroom updates, updated plumbing, in-unit laundry, replacement of plaster walls with drywall, and conversion to all-electric systems. Several units have upgraded finishes such as luxury vinyl flooring, and kitchen cabinet upgrades with granite countertops.
The building retains select historic character, including original marble walls, a skylight, and original tile flooring in the entry areas. Exterior amenities include rear porches and a courtyard area, and the building’s exterior is brick. Flooring throughout includes wood, vinyl, carpet, and concrete.
Extensive capital improvements include a TPO roof, new windows, complete tuckpointing, new PVC stacks, and water line replacements. HVAC line sets and thermostat wiring have been run throughout the property, supporting easier and more efficient future system replacements. The basements have a large footprint and tall ceilings with access that could support potential egress window and entry door additions. Lot size is 0.1406 acres and the property size is 11,676 SF.
The building retains select historic character, including original marble walls, a skylight, and original tile flooring in the entry areas. Exterior amenities include rear porches and a courtyard area, and the building’s exterior is brick. Flooring throughout includes wood, vinyl, carpet, and concrete.
Extensive capital improvements include a TPO roof, new windows, complete tuckpointing, new PVC stacks, and water line replacements. HVAC line sets and thermostat wiring have been run throughout the property, supporting easier and more efficient future system replacements. The basements have a large footprint and tall ceilings with access that could support potential egress window and entry door additions. Lot size is 0.1406 acres and the property size is 11,676 SF.
Key Highlights
- Twelve renovated units: six 1‑bedroom and six 2‑bedroom apartments
- All‑electric conversion plus in‑unit laundry across all units
- Historic interior elements include original marble walls, skylight, and original entry tile flooring
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
$108,657
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
6.21%
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%
$2,173,140
$2.2M
Cap Rate 7%
$1,552,243
$1.6M
Cap Rate 9%
$1,207,300
$1.2M
Market Conditions
NOI Build-Up for 11,676 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
$210.2K $18.00/SF
− Vacancy
−$12.6K −$1.08/SF
EGI
$197.6K $16.92/SF
− OpEx
−$88.9K −$7.61/SF
NOI
$108.7K $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%
$2,173,140
Cap Rate 7%
$1,552,243
Cap Rate 9%
$1,207,300
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,657 @ 7.0% cap · market cap 6.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.19M – $2.92M
NOI $175,411 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,100
Businesses Nearby
Explore this area
Business Placement
Demographics for 63110, MO
18,199
Population
10,260
Households
1.8
Avg Household Size
33
Median Age
64%
College-Educated
97%
High-School Grad
6.6 sq mi
ZIP Area
2,757
Density / Sq Mi
$73,809
Median Household Income
$55,340
Median Earnings
$1,183
Median Rent
$314,600
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 - Twelve fully renovated units with in-unit laundry and conversion to an all-electric system, plus rear porches and a courtyard.
Where is this apartment building located?
The property is located at 3670 Russell Boulevard St Louis, MO.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Twelve renovated units: six 1‑bedroom and six 2‑bedroom apartments; All‑electric conversion plus in‑unit laundry across all units; Historic interior elements include original marble walls, skylight, and original entry tile flooring
