1019 Allen Ave, St Louis, MO 63104

Property Description

The Allen Avenue Furnished Lofts - ten fully furnished, individually renovated residences in one landmark 1901 red-brick building on a single parcel carrying three classic Soulard addresses (1019, 1021, and 1023 Allen). 100% occupied. Priced at a 7.25% cap rate on ACTUAL trailing performance: $193,732 total revenue against $57,254 of actual operating expenses for $136,478 NOI. Every unit has its own floor plan, in-unit laundry, full kitchen, smart TV, queen beds, electronic locks, and owner-paid high-speed internet. Unit mix: three 1BR/1BA, three 1BR/1.5BA, two 2BR/2.5BA townhome-style lofts, and two studios. Three ways to operate - long-term, mid-term furnished (30+ day traveling-nurse and corporate stays), or short-term, or a hybrid of all three. One tenant has operated their unit as a successful Airbnb since February 2023. Soulard has no hotel inventory, and SSM Health SLU Hospital, Cardinal Glennon Children's, and the Barnes-Jewish / Washington University medical campus are minutes away. Turnkey, management-light cash flow in St. Louis's oldest and most walkable neighborhood, where product like this rarely trades. Offering memorandum, current rent roll, and seller operating statements available to qualified buyers. Buyer to verify all figures, square footage, and short-term-rental permitting.