Multi-family Property
Project Snapshot
Location
St Louis , MO
Size
4,122 SF
Type
MFH
Estimated Return
8-10%
California Ave
Project Snapshot
• Location: A vibrant, up-and-coming area in Dutchtown South, St. Louis, known for its historic charm, proximity to amenities like Tower Grove Park, diverse dining along Grand Boulevard, and easy access to major highways like I-55 and I-44, making it highly appealing for long-term tenants and investors in a revitalizing urban neighborhood.
Description
California Ave project is a standout buy-and-hold investment opportunity in the dynamic St. Louis real estate market. Acquired in February 2019 for $143,000, this 1907-built multi-family home underwent a comprehensive renovation to transform it into a turnkey rental property. Located in the 63118 ZIP code – an area with median home values around $240,000 and steady appreciation – it offers reliable cash flow through long-term tenancy while capitalizing on St. Louis’s economic resurgence, including tech hubs, healthcare employment, and cultural attractions like the City Museum and Forest Park.
Key highlights include:
• Property Overview: This 4-bedroom, 4-bathroom multi-family home spans 4,122 sq ft across multiple units, with a spacious 6,142 sq ft lot and classic brick exterior that blends historic character with modern functionality. It’s fully occupied and ready for seamless rental management, featuring updates that attract families, professionals, and roommates seeking affordable, community-oriented living in Dutchtown South.
• Structural and Safety Improvements: Full re-plumbing and electrical updates, window reinforcements, and installation of smoke/CO detectors throughout units.
• Interior Enhancements: Fresh LVP flooring in common areas, complete interior painting in neutral tones, updated kitchen countertops with laminate, new vanities in bathrooms, and modern cabinet hardware.
• Smart Home and Lighting: Energy-efficient LED fixtures, programmable thermostats per unit, security system integration, and added ceiling fans for comfort.
• Appliances and Plumbing: Brand-new stainless steel refrigerators, ranges, in each kitchen, updated sinks, faucets, and shower heads.
• Exterior and Finishing Touches: Curb-appeal landscaping with low-maintenance perennials, driveway power washing, new energy-efficient windows with blinds, and secure entry systems. These enhancements ensure minimal ongoing maintenance, high tenant retention, and premium rents justified by features like updated appliances.
Market Potential
St. Louis’s 63118 ZIP code is a robust rental market with average 1-2 bedroom unit rents at $800-$1,100/month (based on current Zillow, Realtor.com, and Redfin data), scaling to $2,200-$2,500 total for the property. Comparable multi-family units nearby lease quickly due to low vacancy rates (5-6%) and demand from local workers in healthcare and education. With median home values up to $240,000 and year-over-year growth of 6.7%, the property has appreciated 68% from its 2019 purchase price based on area trends. As a buy-and-hold asset, expect steady passive income (projected net cash flow $25,000-$30,000/year after expenses) in a city with favorable tax policies and drivers like downtown redevelopment and proximity to major employers.
Investment Rationale
This project showcases a low-risk, high-reward approach, with recent renovations elevating curb appeal and rental yields, while structural inspections confirm long-term durability. Perfect for investors targeting 8-10% yields alongside equity growth. Partner with us for effortless management and track-record returns in one of the Midwest’s most affordable, appreciating metros.
