3306 Louisiana Ave St St. Louis, MO 63118
- Apartment buildings
- 3,196 SF
Current Use by Public Records
- Apartment buildings
Property Details for 3306 Louisiana Ave St
- Year built
- 1906
- Property size
- 3,196 SF
- Property type
- Apartment buildings
Description
This exceptional three-unit apartment building, located at 3306 Louisiana Ave, St. Louis, MO 63118, presents a compelling investment opportunity. The property, built in 1906, boasts a total of 3,196 square feet on a 5,197 square foot lot (APN: 1497-00-0080-0). Currently 100% occupied, it generates a monthly income of $2,035, offering a strong cash flow. The building features a solid brick exterior and all units include central heating and air conditioning. Recent significant improvements include a new roof (2021), new sewer laterals (2024), new appliances, two new furnaces (2021), a new AC unit (2023), and a new fence (2024). One unit has been recently renovated, and two units are occupied by long-term tenants. The asking price is $205,000, representing a price per unit of $68,333.33 and a price per square foot of $64.14. Currently operating at a 9% cap rate, there's significant potential for increased returns through modest rent increases, easily exceeding a 10% cap rate. This property is a two-story building and represents a solid addition to any investment portfolio seeking strong returns and appreciation potential. The property is offered for sale by owner.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- St. Louis
- County
- State
- Missouri
- Longitude
- -90.2389
- Latitude
- 38.5962
