Renovated 6-Family Apartment
For Sale
Under Contract
$1,399,000
710 LELAND Avenue, University City, MO 63130
Residential Income, University City, MO
Property Size9,936 SF
Lot Size0.14 Acres
Price / SF$140.80
Days on Market58
Property Features for 710 LELAND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 5, Bedroom 3, Bedroom 4, Bedroom 9, Bedroom 7, Bathroom 1, Bathroom 2, Bedroom 6, Bedroom 1, Basement, Bedroom 8, Bedroom 5, Dining Room, Bathroom 4, Bathroom 3, Bedroom 2
Parking
6
Parking features
Oversize, Assigned, Off Street
Window features
Window Treatments, Double Pane Windows, Blinds
Patio and Porch features
Patio, Porch
Interior features
Breakfast Room, Ceiling Fan(s), Custom Cabinetry, Eat-in Kitchen, Entrance Foyer, Granite Counters, High Ceilings, Historic Millwork, Recessed Lighting, Separate Dining, Shower, Special Millwork, Storage, Walk-In Closet(s)
Exterior features
Balcony, Entry Steps/Stairs, Lighting
Basement
Interior Entry, Full, Storage Space, Unfinished, Daylight, Walk-Out Access
Appliances
Stainless Steel Appliance(s), Dishwasher, Disposal, Exhaust Fan, Microwave, Gas Range, Refrigerator, Washer/Dryer Stacked, Gas Water Heater
Subdivision
Delmar Garden
Lot features
Corner Lot, Level, Near Public Transit
Elementary school
Flynn Park Elem.
Middle school
Brittany Woods
High school
University City Sr. High
Elementary school district
University City
Middle school district
University City
High school district
University City
Directions
GPS FRIENDLY
Standard status
Active Under Contract
APN
18H-41-0585
Size
9,936 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
DELMAR GARDEN & LOT PT 9 LOT 8 BLOCK A
Tax Annual Amount
9286
Legal Description
DELMAR GARDEN & LOT PT 9 LOT 8 BLOCK A
Utilities
Utilities
Cable Available
Heating system
Natural Gas, Forced Air
Cooling system
Central Air, Electric
Water source
Public
Amenities
balconies
in-unit laundry
Building Details
Year built
1920
Floors in Building
3
Number of units
6
Flooring type
Vinyl, Tile - Ceramic, Hardwood, Combination, Wood
Building materials
Brick, Concrete
Roof type
Flat
Architectural style
Other
Additional Structures
Storage
Listing Agency:
New World Realty
(314) 275-9734
Listed By:
Arsen Amirdjanian · License #1999012081
(314) 504-7133
Added: Aug 1
Changed: Sep 26
Last Checked: Sep 27 at 2:06AM
MLS# 26049261
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 6-family apartment building contains 9,936 square feet on a 0.142-acre site and was built in 1920. The right wing includes three redesigned three-bedroom, three-bathroom apartments with open layouts, balconies, in-unit laundry, granite countertops, stainless steel appliances, updated windows, and refreshed mechanical, electrical, and plumbing systems. Three additional apartments occupy the left wing, where kitchens and bathrooms have been updated and hardwood floors refinished. Four units received full gut renovations less than two years ago, and the roof was replaced in 2025.
The property is located at 710 LELAND Avenue in University City, near Washington University and the Delmar Loop. Starbucks, Fitz's, Blueberry Hill, Tivoli Theatre, Moonrise Hotel, Vintage Vinyl, and other shopping, dining, and entertainment venues are identified nearby. One apartment is currently available for occupancy.
The property is located at 710 LELAND Avenue in University City, near Washington University and the Delmar Loop. Starbucks, Fitz's, Blueberry Hill, Tivoli Theatre, Moonrise Hotel, Vintage Vinyl, and other shopping, dining, and entertainment venues are identified nearby. One apartment is currently available for occupancy.
Key Highlights
- 6‑family apartment building with 9,936 square feet on 0.142 acres
- Four units fully rebuilt less than two years ago
- Three right‑wing units offer 3 bedrooms and 3 bathrooms each
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
$92,464
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
6.61%
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%
$1,849,280
$1.8M
Cap Rate 7%
$1,320,914
$1.3M
Cap Rate 9%
$1,027,378
$1.0M
Market Conditions
NOI Build-Up for 9,936 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
$178.8K $18.00/SF
− Vacancy
−$10.7K −$1.08/SF
EGI
$168.1K $16.92/SF
− OpEx
−$75.7K −$7.61/SF
NOI
$92.5K $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%
$1,849,280
Cap Rate 7%
$1,320,914
Cap Rate 9%
$1,027,378
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,464 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.87M – $2.49M
NOI $149,271 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,069
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment property with balconies, in-unit laundry, updated systems, and a mix of fully rebuilt and renovated residences.
Where is this apartment building located?
The property is located at 710 LELAND Avenue University City, MO.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: 6‑family apartment building with 9,936 square feet on 0.142 acres; Four units fully rebuilt less than two years ago; Three right‑wing units offer 3 bedrooms and 3 bathrooms each
