3530 Utah St - Apartments FOR SALE


Saint Louis, MO 63118- Tower Grove East
$3,700,000 USD
314-451-7145
3530 Utah St, Saint Louis, MO for Sale
$3,700,000 USD
Apartments - FOR SALE
1/12
null | 7.97% Cap Rate

3530 Utah St
Saint Louis, MO 63118
Tower Grove East


HIGHLIGHTS

  • Historic Schoolhouse Conversion in 2017 - Luxury Apartment Finishes
  • Great Unit Mix - 2 bd, 1 bd and Studio
  • Operational Upside & Below Market Rents
  • In-unit Washer and Dryer
  • Secured, Gated Parking

OVERVIEW

Salient Realty Group is pleased to present, The La Maison apartments, located at 3530 Utah Street, the property presents a unique investment in a meticulously restored historic schoolhouse in Tower Grove East. This boutique-style building features a variety of floor plans, including studio, one-bedroom, and two-bedroom units, many of which offer high-demand loft-style layouts. Each apartment is finished with premium finishes, including quartz countertops, custom cabinetry, stainless steel appliances, and original hardwood flooring. The architectural integrity of the building is preserved through soaring ceilings and oversized windows that provide significant natural light. Historic details, such as original built-in bookshelves and vintage chalkboards in select units, offer a distinct character that differentiates this property from standard modern developments. La Maison presents immediate upside through rent growth and operational efficiencies. The current in-place average rents trail market by ~$275/unit/month, allowing a clear path to increasing cash flow through unit turnover and improved management. Comparable renovated units in the area support the proforma rent assumptions. Situated near Tower Grove Park, South Grand Retail, SLU Medical and close to Downtown St. Louis, La Maison has significant upside with strong rental demand. La Maison provides an opportunity to acquire a well located asset with income, growth and long term appreciation potential.

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

25

PRICE/UNIT

$148,000

CAP RATE

7.97%

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Maison

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2017

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,064 SF

ZONING

H

APN/PARCEL ID

149500-00131

ASK ABOUT THIS PROPERTY

Tim McCarthySalient Realty Group LLCMore Info
314-451-7145

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Tim McCarthySalient Realty Group LLCMore Info
314-451-7145

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.