4260 Castleman Ave St St. Louis, MO 63110

Property Details for 4260 Castleman Ave St

Year built

1895

Lot size

0.17 lot acres

Property size

4,564 SF

Property type

Apartment buildings

Description

This exceptional four-unit apartment building presents a compelling investment opportunity in St. Louis' desirable Shaw neighborhood. Situated less than 300 feet from the Missouri Botanical Garden and a short walk to Tower Grove Park, this property benefits from its prime location within a quiet, sought-after community. The building comprises two spacious two-bedroom, one-bathroom units and two three-bedroom, one-bathroom units, each offering approximately 1,066 square feet of living space. Upstairs units feature in-unit washer/dryer hookups and keyless entry. The third bedrooms in the upstairs units are bonus rooms with IKEA closets, ideal for use as home offices. The property boasts a large backyard, and one unit currently operates as an Airbnb, generating an average monthly income of $2,083. Recent significant improvements include new furnaces, condensers, and three water heaters (2022), replacement of thirty feet of sewer lateral (2022), a phased roof replacement (TPO, 2023 & 2024), and a near $10,000 bathroom renovation in 2023. The building sits on a 0.169-acre lot and totals 4,564 square feet (excluding the basement). The asking price is $599,000, representing a price per unit of $149,750, a cap rate of 4.33%, and a pro-forma cap rate of 9.90%. The current NOI is $25,951, with a pro-forma NOI of $59,311. Built in 1895, this two-story building offers a blend of historic charm and modern updates, making it an attractive investment for discerning buyers. The property's address is 4260 Castleman Ave, St. Louis, MO 63110.

Location Insight

City

St. Louis

County

State

Missouri

Longitude

-90.2559

Latitude

38.6158