Two-Story Brick Apartment
New
For Sale
$1,700,000
4770 Kings Drive St, Louis, MO 63116
Residential Income, St Louis, MO
Property Size12,614 SF
Lot Size0.31 Acres
Price / SF$134.77
Days on Market3
Property Features for 4770 Kings Drive St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Basement, Dining Room
Parking features
Open, Parking Lot, Offsite
Window features
Window Coverings
Interior features
Dining/Living Room Combo, Laminate Counters, Storage
Exterior features
Balcony
Basement
Storage Space, Concrete, Walk-Out Access, Unfinished, Full
Appliances
Free-Standing Gas Range, Refrigerator, Free-Standing Refrigerator, Gas Water Heater
Subdivision
Kingshighway Terrace Add
Lot features
Corner Lot, Level
Elementary school
Buder Elem.
Middle school
Long Middle Community Ed. Center
High school
Roosevelt High
Elementary school district
St. Louis City
Middle school district
St. Louis City
High school district
St. Louis City
Standard status
Active
APN
6174-00-0010-0
Size
12,614 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9998
Utilities
Utilities
Cable Available
Heating system
Forced Air, Natural Gas
Cooling system
Central Air, Electric
Water source
Public
Amenities
on-site coin laundry
Building Details
Year built
1966
Floors in Building
2
Number of units
20
Flooring type
Laminate, Carpet, Concrete, Vinyl
Building materials
Brick, Concrete
Roof type
Flat, Membrane
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Keller Williams Realty St. Louis
(314) 677-6000
Listed By:
David Nations · License #2007027969
(314) 677-6000
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 30 at 10:06PM
MLS# 26054926
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.
This 20-unit apartment property is housed in a two-story brick building completed in 1966. The 12,614-square-foot asset includes a basement laundry room with coin-operated machines, a private rear parking lot with 15 spaces, and additional street parking. Interior improvements include updated flooring, kitchens with new countertops and cabinetry, and refreshed bathrooms in many units. The property also features balconies, public water, natural-gas forced-air heat, and central air conditioning.
Located in St. Louis City's Princeton Heights neighborhood, the building sits near neighborhood shops, schools, grocery stores, gas stations, and dining options. Joseph R. Leisure Park and Christy Park are nearby, while Wilmore Park is accessible along Gravois. I-55 and I-44 provide connections to Downtown St. Louis and the broader area.
Located in St. Louis City's Princeton Heights neighborhood, the building sits near neighborhood shops, schools, grocery stores, gas stations, and dining options. Joseph R. Leisure Park and Christy Park are nearby, while Wilmore Park is accessible along Gravois. I-55 and I-44 provide connections to Downtown St. Louis and the broader area.
Key Highlights
- 20‑unit apartment building on 0.314 acres
- 12,614 square feet across a two‑story brick building
- 95% 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
$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
Current Use
Lease Details
20
Residential units
95%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
581
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Twenty-unit multifamily property with renovated interiors, on-site laundry, private parking, and access to neighborhood retail and major highways.
Where is this apartment building located?
The property is located at 4770 Kings Drive St 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 apartment building on 0.314 acres; 12,614 square feet across a two‑story brick building; 95% occupied
