Multi-family Property
Project Snapshot
Location
St Louis , MO
Size
3,462 SF
Type
MFH
Estimated Return
8-10%
Eichelberger St
Project Snapshot
• Location: A revitalizing historic neighborhood in Gravois Park, St. Louis, characterized by classic urban architecture, community-driven renewal efforts through programs like the Neighborhood Stabilization Program, proximity to cultural hubs, parks, and major employers in healthcare and education, with easy access to highways and amenities that support steady tenant demand in an area poised for growth amid St. Louis’s broader economic resurgence.
Description
Eichelberger St project represents a compelling buy-and-hold opportunity in St. Louis’s evolving real estate landscape, featuring a fully remodeled four-unit multi-family property in the 63111 ZIP code – a district with robust rental dynamics and revitalization momentum. This 1928-built asset has been comprehensively updated to contemporary standards across all units, ensuring turnkey operations and tenant appeal in Gravois Park, where median home values hover around $130,000-$150,000 and the broader St. Louis market benefits from tech, healthcare, and cultural growth drivers like nearby universities and parks.
Key highlights include:
• Property Overview: This 4-unit, 4-bedroom, 4-bathroom multi-family spans 3,462 sq ft with a compact 4,443 sq ft lot and classic brick/stone exterior enhanced by a deck for added outdoor appeal. Fully occupied potential with modern features like bonus rooms, storm windows, and included appliances (refrigerators and ranges/ovens), it’s designed for efficient management in a pet-free setup, with public utilities, forced air gas heating, wall cooling, and flexible parking options including off-street and garage access.
• Renovation Details: All four units upgraded to up-to-date standards for enhanced livability and value.
• Structural and Safety: Updated electrical and plumbing systems, reinforced windows, and smoke/alarm detectors for compliance and peace of mind.
• Interior Enhancements: New flooring, fresh paint, modern shower baths, and bonus spaces tailored for comfortable studio/1-bedroom layouts.
• Kitchen and Appliance Upgrades: Newly updated kitchens featuring contemporary countertops, sinks, faucets, and stainless steel appliances including refrigerators, ranges, and potentially added efficiencies like energy-saving fixtures.
• Exterior and Efficiency: Deck maintenance, curb-appeal improvements, and secure entry systems to minimize upkeep while boosting tenant satisfaction and retention through shared amenities. These updates position the property for premium rents with low ongoing costs, supported by features like programmable systems and durable materials.
Market Potential
Gravois Park’s rental scene offers average rates around $1,300-$1,400 for similar units, with St. Louis-wide trends showing strong demand and 6.1% rent growth in 2025, low vacancies (5-6%), and quick leasing for remodeled multi-families near employment centers. Comparable properties lease at $600+ per unit for updated studios/1-beds, scaling to $15,000+ annually for the building, with net cash flow bolstered by tenant-paid utilities (electricity and gas) and area appreciation potential tied to neighborhood stabilization initiatives. As a stabilized asset, it promises passive income in a top-ranked rental market driven by affordability and urban renewal.
Investment Rationale
This remodeled fourplex exemplifies low-risk income generation with modern upgrades ensuring high occupancy and minimal maintenance, ideal for investors seeking steady NOI and growth in St. Louis’s affordable, appreciating metro.
