Furnished 7-Unit Apartment
For Sale
$1,434,000
922 Allen Avenue St, Louis, MO 63104
Residential Income, St Louis, MO
Property Size7,732 SF
Lot Size0.12 Acres
Price / SF$185.46
Days on Market52
Property Features for 922 Allen Avenue St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 7, Bathroom 2, Bathroom 6, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 5, Bathroom 5, Basement
Parking features
Off Street
Basement
Concrete
Subdivision
Allens Add
Elementary school
Sigel Elem. Comm. Ed. Center
Middle school
Fanning Middle Community Ed.
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
0682-00-0120-0
Size
7,732 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2675
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
updated kitchens
hardwood floors
central air
private decks/patio
off-street parking
basement storage
Building Details
Year built
1893
Number of units
7
Building materials
Brick
Architectural style
Other
Listing Agency:
The Agency
(314) 677-1477
Listed By:
Anthony Klier · License #2022012991
(314) 517-1925
Added: Aug 7
Changed: Sep 26
Last Checked: Sep 27 at 12:06PM
MLS# 26046055
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 7-unit apartment property contains 7,732 square feet on 0.1239 acres and is fully leased with furnished residences. Three all-brick homes at 922-926 Allen Avenue underwent a studs-out renovation in 2018 that included HVAC, electrical, plumbing, and roof work. Across the property, apartments offer in-unit laundry, updated kitchens, hardwood floors, central air, private decks or patios, basement storage, and off-street parking. Public water serves the property, which was originally built in 1893.
The property is located in the Soulard neighborhood of St. Louis, near SSM Health SLU and BJC/Barnes-Jewish hospitals. McGurk’s, Molly’s, the Soulard Farmers Market, and the Anheuser-Busch Brewery are identified as nearby destinations. Current leasing includes furnished arrangements for traveling nurses and corporate professionals, with rent supported by employer housing stipends. The property carries a 7.25% cap rate based on actual T-12 performance.
The property is located in the Soulard neighborhood of St. Louis, near SSM Health SLU and BJC/Barnes-Jewish hospitals. McGurk’s, Molly’s, the Soulard Farmers Market, and the Anheuser-Busch Brewery are identified as nearby destinations. Current leasing includes furnished arrangements for traveling nurses and corporate professionals, with rent supported by employer housing stipends. The property carries a 7.25% cap rate based on actual T-12 performance.
Key Highlights
- 7‑unit apartment property totaling 7732 square feet on 0.1239 acres
- Fully leased furnished residences with employer housing stipend‑supported rent
- Three all‑brick residences renovated to the studs in 2018
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
$71,954
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
5.02%
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%
$1,439,080
$1.4M
Cap Rate 7%
$1,027,914
$1.0M
Cap Rate 9%
$799,489
$799.5K
Market Conditions
NOI Build-Up for 7,732 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
$139.2K $18.00/SF
− Vacancy
−$8.4K −$1.08/SF
EGI
$130.8K $16.92/SF
− OpEx
−$58.9K −$7.61/SF
NOI
$72.0K $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%
$1,439,080
Cap Rate 7%
$1,027,914
Cap Rate 9%
$799,489
Alternative Uses
Best Use
Apartment 5plus
$1.03M
$899.4K – $1.20M
NOI $71,954 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,160 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
7
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 63104, MO
19,317
Population
10,958
Households
1.8
Avg Household Size
34
Median Age
54%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
5,681
Density / Sq Mi
$70,127
Median Household Income
$53,693
Median Earnings
$1,054
Median Rent
$249,500
Median Home Value
Check the figures for this property
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 - Fully leased residences feature updated interiors, private outdoor areas, and off-street parking.
Where is this apartment building located?
The property is located at 922 Allen Avenue St Louis, MO.
What is the asking price?
The asking price for this property is $1,434,000.
What are key features of this property?
This property features: 7‑unit apartment property totaling 7732 square feet on 0.1239 acres; Fully leased furnished residences with employer housing stipend‑supported rent; Three all‑brick residences renovated to the studs in 2018
