1627 Washington Ave St St. Louis, MO 63103
- Apartment buildings
- 73,527 SF
- 0.37 lot acres
Current Use by Public Records
- Isalis / Boutique / Women'S Clothing Store
- Party City / Candy Store / Costume Store
- Skunk Funk / Clothing Store / Corporate Campus
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
Property Details for 1627 Washington Ave St
- Year built
- 1907
- Lot size
- 0.37 lot acres
- Property size
- 73,527 SF
- Property type
- Apartment buildings
Description
This exceptional 8-story, 73,527 square foot apartment building, located at 1627 Washington Ave in St. Louis, MO, presents a compelling value-add investment opportunity. Built in 1907 and renovated in 2006, the University Lofts boast 26 units: 17 one-bedroom/one-bathroom and 9 two-bedroom/two-bathroom apartments. Currently operating at 90% occupancy, the property generates a NOI of $185,000, representing a 5.89% cap rate on the $3,140,000 asking price. The price per unit is $120,769.23, and the price per square foot is $42.71. The property sits on a 0.366-acre lot and is zoned I - Central Business District. A key feature is the private, gated, and lighted parking lot with 27 spaces, providing a 1:1 parking ratio for residential units. The building also includes two commercial spaces totaling approximately 5,256 square feet
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- St. Louis
- County
- State
- Missouri
- Longitude
- -90.2029
- Latitude
- 38.6331
