4260-4262 Michigan Ave - Apartments FOR SALE


Saint Louis, MO 63111- Mount Pleasant
$365,000 USD
314-655-6060
4260-4262 Michigan Ave, Saint Louis, MO for Sale
$365,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

4260-4262 Michigan Ave
Saint Louis, MO 63111
Mount Pleasant


HIGHLIGHTS

  • Fully-leased 6-unit asset featuring all 1 Bed/1 Bath units
  • New roofing in 2022 with 20-year warranty
  • 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
  • Limited new apartment construction at comparable price points supports continued occupancy and rent stability
  • Convenient South City location near transit, highways, retail, and amenities

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$365,000 USD

PRICE/SF

$50 USD /SF

# OF UNITS

6

PRICE/UNIT

$60,833

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,083 SF

ZONING

B

APN/PARCEL ID

2655-06-0010-0

ASK ABOUT THIS PROPERTY

314-655-6060

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314-655-6060

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