5437 Page Boulevard

Discover the allure of St. Louis, Missouri, surrounding the property at 5437 Page Boulevard. Located in the vibrant city of St. Louis, this area offers proximity to a plethora of desirable amenities. Enjoy convenient access to the stunning Forest Park – home to renowned cultural institutions like the St. Louis Art Museum and the Missouri History Museum. The iconic Gateway Arch and the lively Delmar Loop are also just a short drive away, offering a diverse array of dining, entertainment, and shopping options. With its rich cultural scene and close proximity to major attractions, the area surrounding the property presents an excellent opportunity for prospective Multifamily / High-Rise investors.This is a rare opportunity to acquire a 12-unit multifamily property in one of St. Louis’ most desirable rental corridors, ideally located .9 miles from The Loop, 1.4 miles from Forest Park, 1.9 miles from Washington University, and 2.2 miles from Barnes Hospital. The asset consists of 4 three-family buildings featuring spacious 900-square-foot three-bedroom units, totaling 36 bedrooms. Recent capital improvements include updated HVAC systems, electrical and plumbing upgrades, new flooring, appliances, doors, windows, fresh interior paint, and refreshed common areas, with the added benefit of off-street parking for tenants. The property presents a clear value-add opportunity, as current rents remain below market levels. Rental data within a three-mile radius shows average market rents for three-bedroom units at approximately $2,230 per month, with an average of $1.83 per square foot, while Section 8 rents range from $1,570 to $1,670 per month. There is currently one unit vacant, with current rents ranging from $848-$1,100 a month. The property is listed at $77,250 per unit, there are 5 updated multi family sales comparables nearby with an average price per foot of $139, and an average price per unit of $163,178. The one vacant unit needs a unit turnover to be rentable.