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Kim Banovz

kim@cisler.com +1(618) 670-1910

$ 1,000,000

Est. payment -/mo

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5909 Cates Ave St Louis, MO 63112

9,681 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 Family or More

Listing Status Active

Purchase Type For Sale

Square Footage 9,681 sqft

Price per Sqft $103

Subdivision Clemens Place Add

MLS Listing ID 26036707

Style Mid-Rise 3or4 Story

Year Built 1923

Lot Size 10,672 Sqft

Acres 0.245

Property Sub-Type 5 Family or More

Property Description

Rare opportunity to acquire a fully repositioned 6-unit multifamily building in the heart of St. Louis's historic West End — steps from the Central West End, Washington University, the Delmar Loop, and Forest Park. This classic 3-story brick walk-up has undergone a comprehensive $550,000 renovation, delivering six spacious 3-bedroom/2-bathroom units averaging 1,500 SF each — one of the largest unit configurations available in this submarket. All interior work is 100% complete, including premium new kitchens, updated bathrooms, modern flooring, and brand-new mechanical, electrical, and plumbing systems throughout. Four units are currently occupied with leases in place, and two turnkey-ready units are available for immediate lease-up at market rate. Current in-place income is $7,379/month with a stabilized annual income of $132,108 including utility reimbursements. At the $1,000,000 list price, the property delivers a 9.79% acquisition cap rate — significantly above the local market average of 7.40% — with an as-is appraised value of $1,040,000, providing immediate equity at closing. With all-new MEP systems in place, capital expenditure liability over the next 7–10 years is expected to be minimal. In-unit washer/dryer hookups in every unit support above-average rents and tenant retention. An ideal acquisition for investors seeking immediate cash flow, strong yield, and long-term appreciation in one of St. Louis's most supply-constrained rental corridors.

Location

State MO

County St Louis City

Area 4 - Central West

Interior

Heating Forced Air, Natural Gas

Cooling Central Air, Electric

Flooring Vinyl

Fireplaces Number 6

Fireplace Y

Laundry In Unit

Exterior

Parking Features false

Fence Partial, Wood

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N No

Building

Water Public

Structure Type Brick

Schools

Elementary Schools Hamilton Elem. Community Ed.

Middle Schools Langston Middle

High Schools Sumner High

School District St. Louis City

Others

Acceptable Financing 1031 Exchange, Cash, Conventional, Private

Listing Terms 1031 Exchange, Cash, Conventional, Private

Special Listing Condition Standard

Listed by Benjamin Wedi • EXP Realty, LLC

Nearby School & Business

Kim Banovz

Broker | License ID: 475.209182

+1(618) 670-1910

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