$499,500
TWO PROPERTIES FOR THE PRICE OF ONE! This Soulard three family is not a duplex with a shed out back. It is TWO SEPARATE BUILDINGS ON ONE PARCEL, a classic brick duplex fronting Allen Avenue plus a fully renovated single family house standing on its own in the rear, with a private courtyard in between. Setups like this almost never hit the market, and never at this price, in one of the most walkable and in demand neighborhoods in all of St. Louis!
FULLY OCCUPIED AND PRODUCING 4,650 PER MONTH, or 55,800 annually. The front duplex holds a one bed one bath renting at 1,100 and a two bed two bath renting at 1,450. In the rear of the parcel sits a beautifully updated THREE STORY two bed two bath single family home leased at 2,100.
The rear house is a TRUE ARCHITECTURAL SHOWPIECE! Three levels of modern design behind original brick, with a striking multi story window wall, white shaker cabinetry, granite counters, stainless appliances, light wood floors and a spa quality walk in shower finished in marble. This one lives like a private city retreat, not a rental!
Between the two buildings is a fully fenced PRIVATE COURTYARD of brick pavers and white stone. Real outdoor living space is nearly impossible to find in a city investment property, and here it comes standard.
NOW HERE IS THE BEST PART. ALL THREE LEASES EXPIRE ON AUGUST 30, 2026! That hands the next owner a completely clean slate. The seller will DELIVER ALL THREE UNITS VACANT at closing, or re lease any of them beforehand, entirely at the direction of the buyer. YOU PICK THE UNIT YOU WANT TO LIVE IN! Take the high end rear house and enjoy a private home with a yard in the middle of the city. Take the two bed two bath in the duplex. Or keep it simple in the one bed and MAXIMIZE YOUR INCOME. Then you decide what the other two units do. Lease them long term for steady predictable rent. Furnish them for traveling nurses and corporate stays. Or run them as SHORT TERM RENTALS in a neighborhood people specifically travel to visit! Mix and match in any combination, and change the plan whenever you want.
HOUSE HACK IT! Live in the rear home while the front duplex throws off more than 2,500 per month toward your mortgage, and as a three unit this property is FHA ELIGIBLE. Prefer to stay hands off? Keep all three leased, mark rents to market, or explore short term rentals, where AirDNA projections for comparable Soulard units point to ROUGHLY 100,000 PER YEAR in gross Airbnb revenue across all three!
LOCATION IS EVERYTHING, and this one delivers. Just steps from Dukes, which runs a FREE SHUTTLE to Cardinals, Blues and STL City SC games plus major downtown concerts, and surrounded by the restaurants, bars and nightlife that make Soulard one of the most vibrant neighborhoods in St. Louis!
OFFERED AT 499,500! Property is fully occupied. Proof of funds or preapproval required to schedule a tour. Do not let this one get away!
26051468
MLS
⋅
ACTIVE
Status
1007 Allen Ave, St Louis
