Updated Four-Unit Elevator
For Sale
$1,145,000
6416 Cates Ave, Saint Louis, MO 63130
Four private residences feature open layouts, upscale finishes, elevator access, and dedicated garage parking near the Delmar Loop.
Property Size7,992 SF
Price / SF$143.27
Days on Market234
Property Features for 6416 Cates Ave
General Information
Standard status
Active
Size
7,992 SF
Elevators
Yes
Property subtype
Residential Income
Units
Unit Mix
4 x 2BD/2BA
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$13,495
Building Details
Buildings
1
Listing Agency:
Elevate Realty, LLC
(314) 380-0581
Listed By:
George Ermold · License #2014020872
(314) 380-0581
Source:
Exprealty
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 7:21AM
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 Elevate Realty, LLC
Investment Insights
Based on property information with market context.
This 7,992-square-foot quadplex contains four two-bedroom, two-bath residences, with one unit arranged on each floor. Interior features include open-concept living areas, stainless steel appliances, granite countertops, and walk-in closets. Elevator service provides access throughout the building, while every residence includes two dedicated garage spaces—one tuck-under and one at the rear.
The property is located 1/2 mile from the Delmar Loop and at 6416 Cates Avenue in Saint Louis. Recent capital improvements include a roof replacement in 2017 and three water heaters installed during 2021–2022. The building is offered as-is on a Special Sales Contract and supports either continued rental operation or owner occupancy with additional units generating rental income.
The property is located 1/2 mile from the Delmar Loop and at 6416 Cates Avenue in Saint Louis. Recent capital improvements include a roof replacement in 2017 and three water heaters installed during 2021–2022. The building is offered as-is on a Special Sales Contract and supports either continued rental operation or owner occupancy with additional units generating rental income.
Key Highlights
- Four 2BD/2BA units within a 7,992‑square‑foot building
- One residence per floor with elevator access
- Two dedicated garage spaces per unit
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
$85,463
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
7.46%
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%
$1,709,260
$1.7M
Cap Rate 7%
$1,220,900
$1.2M
Cap Rate 9%
$949,589
$949.6K
Market Conditions
NOI Build-Up for 7,992 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
$129.5K $16.20/SF
− Vacancy
−$7.4K −$0.92/SF
EGI
$122.1K $15.28/SF
− OpEx
−$36.6K −$4.58/SF
NOI
$85.5K $10.69/SF
Area
St. Louis County, MO
Vacancy
5.70%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,709,260
Cap Rate 7%
$1,220,900
Cap Rate 9%
$949,589
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,463 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$1.06M
$929.7K – $1.24M
NOI $74,374 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,066 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
975
Businesses Nearby
Explore this area
Business Placement
Demographics for 63130, MO
29,454
Population
14,106
Households
2.1
Avg Household Size
35
Median Age
64%
College-Educated
97%
High-School Grad
5.0 sq mi
ZIP Area
5,891
Density / Sq Mi
$81,103
Median Household Income
$50,407
Median Earnings
$1,199
Median Rent
$285,500
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?
Quadplex - Four private residences feature open layouts, upscale finishes, elevator access, and dedicated garage parking near the Delmar Loop.
Where is this quadplex located?
The property is located at 6416 Cates Ave Saint Louis, MO.
What is the asking price?
The asking price for this property is $1,145,000.
What are key features of this property?
This property features: Four 2BD/2BA units within a 7,992‑square‑foot building; One residence per floor with elevator access; Two dedicated garage spaces per unit
