4260-62 Michigan Avenue
Fully Leased 6-Unit Multifamily Asset in Stabilized South St. Louis Location
Marketing description
CBRE, as exclusive marketing advisor, is pleased to present 4260–62 Michigan Avenue, a fully leased six‑unit brick apartment building located in South St. Louis. Situated along a quiet residential corridor, the property offers investors a stabilized asset in an established neighborhood supported by strong rental demand and historically low tenant turnover. The building also carries a secondary address of 3119 Chariton Street.
The property consists of six one‑bedroom, one‑bathroom units, which feature efficient floor plans, hardwood flooring, and an abundance of natural light.
Significant capital improvements include new TPO roofing installed in 2022 with a 20‑year warranty, positioning the asset for minimal near‑term maintenance and capital expenditures.
The property is situated near major thoroughfares including South Grand Boulevard, I-55, and I-44, allowing for efficient travel to Downtown St. Louis, regional employment centers, and surrounding neighborhoods. Public transportation is readily accessible, with nearby bus routes providing additional commuting options.
Investment highlights
- Fully-leased 6-unit asset featuring all 1 Bed/1 Bath units
- Well-maintained 1928 brick construction
- Opportunity to acquire at a competitive basis with the potential to increase cash flow through operational efficiencies and targeted unit upgrades
- Stable South St. Louis neighborhood with consistent rental demand and low turnover
- New roofing in 2022 with 20-year warranty
- Long-term neighborhood stability
- Limited new apartment construction at comparable price points supports continued occupancy and rent stability
- Convenient South City location near transit, highways, retail, and amenities
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