20-Unit Brick Apartment
New
For Sale
$1,700,000
4770 Kings Dr, Saint Louis, MO 63116
Updated apartments with on-site coin laundry and private rear parking serve an established St. Louis City neighborhood.
Property Size12,614 SF
Price / SF$134.77
Days on Market6
Property Features for 4770 Kings Dr
General Information
Standard status
Active
Size
12,614 SF
Total Parking Spaces
15
Property subtype
Residential Income
Occupancy
95%
Additional Details
Gross Income
$169,000
Highway Access
Yes
Multifamily Units
20
Taxes and HOA fees
Annual Taxes
$9,998
Amenities
on-site coin laundry
Building Details
Buildings
1
Stories
2
Construction
brick
Listing Agency:
Keller Williams Realty St. Louis
(314) 775-2777
Listed By:
David Nations · License #2007027969
(314) 775-2777
Source:
Exprealty
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 10:32PM
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 Keller Williams Realty St. Louis
Investment Insights
Based on property information with market context.
This 12,614-square-foot, brick apartment property contains 20 units across two stories and is currently 95% occupied. Recent improvements include new flooring, refreshed kitchens with updated countertops and cabinetry, and modernized bathrooms in many units. The basement laundry room has also been renovated and provides on-site coin-operated laundry. A private rear lot adds 15 parking spaces, with additional street parking available.
Located in St. Louis City's Princeton Heights neighborhood near the Kingshighway and Gravois area, the property is close to local shops, schools, grocery stores, gas stations, and neighborhood restaurants. Joseph R. Leisure Park and Christy Park are a few blocks away, while Wilmore Park is accessible via Gravois. I-55 and I-44 provide connections to Downtown St. Louis.
Located in St. Louis City's Princeton Heights neighborhood near the Kingshighway and Gravois area, the property is close to local shops, schools, grocery stores, gas stations, and neighborhood restaurants. Joseph R. Leisure Park and Christy Park are a few blocks away, while Wilmore Park is accessible via Gravois. I-55 and I-44 provide connections to Downtown St. Louis.
Key Highlights
- 20‑unit, two‑story brick apartment building
- 12,614 square feet with 95% occupancy
- Many units feature updated flooring, kitchens, and bathrooms
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
$117,386
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
6.91%
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%
$2,347,720
$2.3M
Cap Rate 7%
$1,676,943
$1.7M
Cap Rate 9%
$1,304,289
$1.3M
Market Conditions
NOI Build-Up for 12,614 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
$227.1K $18.00/SF
− Vacancy
−$13.6K −$1.08/SF
EGI
$213.4K $16.92/SF
− OpEx
−$96.0K −$7.61/SF
NOI
$117.4K $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%
$2,347,720
Cap Rate 7%
$1,676,943
Cap Rate 9%
$1,304,289
Alternative Uses
Best Use
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,386 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,503 @ 7.0% cap · market cap 11.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20
Residential units
95%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
516
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated apartments with on-site coin laundry and private rear parking serve an established St. Louis City neighborhood.
Where is this apartment building located?
The property is located at 4770 Kings Dr Saint Louis, MO.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 20‑unit, two‑story brick apartment building; 12,614 square feet with 95% occupancy; Many units feature updated flooring, kitchens, and bathrooms
