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29095502
29095683

3752 Chippewa St, St. Louis, MO 63116

MM
MO 2024031548
Salient Realty Group
GL
MO 2015014613
Salient Realty Group
JA
MO 2019046652
Salient Realty Group
Listed by Salient Realty Group
$850,000
149 days on market
Updated 111 days ago

3752 Chippewa St

Details
APN 4179-9-120.000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,800
Net Rentable (SqFt) 8,750
Units 14
Cap Rate 6.83%
NOI $58,036
Occupancy 93%
Pro-Forma Cap Rate 11.9%
Pro-Forma NOI $101,113
Price per SqFt $87
Class C
Year Built 1960
Year Renovated 2020
Buildings 2
Stories 2

Multifamily | 14 Units | $60,714/unit

Marketing description

3752 Chippewa Street is a 14-unit multifamily building located in the heart of South St. Louis. Constructed in 1960 and totaling approximately 9,880 square feet, the asset is comprised entirely of one-bedroom, one-bathroom units. Each apartment spans roughly 625 square feet and features a functional four-room layout, including a spacious living area and a remodeled kitchen with a dedicated dining space. Interior finishes include laminate flooring throughout and ample storage with double closets in each bedroom. The property offers a stabilized investment opportunity with several key operational advantages. Recent updates include individual forced-air heating and central cooling systems, with tenants responsible for their own electricity and gas utilities. The building provides an on-site parking lot for residents and sits directly adjacent to a major bus stop, ensuring high tenant accessibility. With a consistent rental history and a location that benefits from the density of the surrounding neighborhood, this property is positioned for steady cash flow and long-term appreciation.

Investment highlights

14 Renovated Units in South City

Less than $65,000 a unit

Updated Utility Systems

93% Occupied

Ability to Raise Rents to Market

Listing Contacts

MM
MO 2024031548
Salient Realty Group
GL
MO 2015014613
Salient Realty Group
JA
MO 2019046652
Salient Realty Group
Listed by Salient Realty Group

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$58,036.00
$4,836.33/mo

Valuation Metrics

0
DSCR
6.83%
Cap Rate
6.83%
ROI

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Additional Information

Name
Matthew Millslagle
License
2024031548
Brokerage Phone
3142005352
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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