Apartment Building
For Sale
$600,000
4333 N Newstead Ave, Saint Louis, MO 63115
Multibuilding apartment group with a defined unit mix, existing occupancy, and renovation needs in select vacant units.
Property Size3,744 SF
Price / SF$160.26
Days on Market10
Property Features for 4333 N Newstead Ave
General Information
Standard status
Active
Size
3,744 SF
Property subtype
Residential Income
Units
Unit Mix
8 x 2BR, 10 x 3BR, 2 x 4BR/2.5BA
Multifamily Units
20
Taxes and HOA fees
Annual Taxes
$648
Building Details
Buildings
7
Listing Agency:
Sorkin & Associates, LLC
(314) 368-2463
Listed By:
Richard Sorkin
(314) 368-2463
Source:
Exprealty
Added: Aug 1
Changed: Aug 9
Last Checked: Aug 10 at 8:11AM
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 Sorkin & Associates, LLC
Investment Insights
Based on property information with market context.
This apartment property comprises 9 buildings, with 2 scheduled for demolition; the group will include 7 buildings and 2 lots. The remaining housing inventory includes 8 two-bedroom units, 10 three-bedroom units, and 2 four-bedroom, 2 1/2-bath townhouses in a building constructed in 2000. Thirteen units are occupied, while vacant units require work. The buildings must be sold together.
A prior rehabilitation program completed about 25 years ago replaced plumbing, electrical systems, windows, roofs, and other components. Certain units have newer HVAC systems, and some buildings have newer roofs. The property experienced damage from the 2025 tornado. MHDC rental restrictions apply, and any new owner and management company must receive MHDC approval. The property is located at 4333 N Newstead Ave in Saint Louis, Missouri.
A prior rehabilitation program completed about 25 years ago replaced plumbing, electrical systems, windows, roofs, and other components. Certain units have newer HVAC systems, and some buildings have newer roofs. The property experienced damage from the 2025 tornado. MHDC rental restrictions apply, and any new owner and management company must receive MHDC approval. The property is located at 4333 N Newstead Ave in Saint Louis, Missouri.
Key Highlights
- 9 buildings with 2 slated for demolition, leaving 7 buildings and 2 lots
- Unit mix includes 8 two‑bedroom, 10 three‑bedroom, and 2 four‑bedroom 2 1/2‑bath townhouses
- 13 units are occupied
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
$34,842
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
5.81%
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%
$696,840
$696.8K
Cap Rate 7%
$497,743
$497.7K
Cap Rate 9%
$387,133
$387.1K
Market Conditions
NOI Build-Up for 3,744 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
$67.4K $18.00/SF
− Vacancy
−$4.0K −$1.08/SF
EGI
$63.3K $16.92/SF
− OpEx
−$28.5K −$7.61/SF
NOI
$34.8K $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%
$696,840
Cap Rate 7%
$497,743
Cap Rate 9%
$387,133
Alternative Uses
Best Use
Apartment 5plus
$497.7K
$435.5K – $580.7K
NOI $34,842 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$803.5K
$703.1K – $937.5K
NOI $56,247 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
422
Businesses Nearby
Explore this area
Business Placement
Demographics for 63115, MO
16,056
Population
10,208
Households
1.6
Avg Household Size
42
Median Age
14%
College-Educated
85%
High-School Grad
4.3 sq mi
ZIP Area
3,734
Density / Sq Mi
$31,898
Median Household Income
$31,467
Median Earnings
$928
Median Rent
$61,600
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 - Multibuilding apartment group with a defined unit mix, existing occupancy, and renovation needs in select vacant units.
Where is this apartment building located?
The property is located at 4333 N Newstead Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 9 buildings with 2 slated for demolition, leaving 7 buildings and 2 lots; Unit mix includes 8 two‑bedroom, 10 three‑bedroom, and 2 four‑bedroom 2 1/2‑bath townhouses; 13 units are occupied
