1022 Allen Ave, St Louis, MO 63104

Property Description

Fully renovated, 100% occupied four-unit in the center of Soulard, offered at $899,000. The building brings in $7,540 a month ($90,480 a year) and produces a 7.13% cap rate on actual expenses. It also has something most Soulard buildings don't: three off-street parking spaces and a fenced, gated backyard in the dead center of Soulard right by Dukes. ASK THE LISTING AGENT / YOUR AGENT FOR THE MARKETING OM (brochure) WITH TONS OF EXTRA INFO. THE UNITS: Unit 1E (1st floor) is a 3 bed / 2 bath of about 1,519 sq ft with the original storefront windows, quartz counters, a double-vanity bath and hardwood floors, leased at $2,380/mo through 5/31/27. Unit 2E (2nd floor east) is a 1 bed / 1 bath of about 759 sq ft with an island kitchen, updated bath and in-unit laundry, leased at $1,365/mo through 1/31/27. Unit 2W (2nd floor west) is a 1 bed / 1 bath of about 759 sq ft with an open island kitchen, renovated bath and in-unit laundry, leased at $1,365/mo through 7/30/27. Unit 3E (3rd floor) is a 3 bed / 2 bath of about 1,519 sq ft with a stainless kitchen and island, exposed-beam ceilings, a glass-enclosed tile shower and in-unit laundry, leased at $2,430/mo through 6/30/27. THE NUMBERS: Gross rent is $90,480 a year. Operating expenses are $21,875 (2025 taxes, a current insurance quote, and the last 12 months of water, sewer, trash and repairs), leaving $64,081 in net operating income after a 5% vacancy allowance. That is $224,750 per unit. Tenants pay their own electric and gas. The property appraised at $900,000 in 2024. WHY IT STANDS OUT: Central air, updated PVC plumbing and in-unit laundry in every unit keep upkeep low; repairs totaled $2,255 over the last 12 months. The two closest comparable sales, four-unit buildings on Russell Blvd with the same unit mix, brought in about 8% less rent and had no parking (both for $825,000 each). SHORT-TERM RENTAL OPTION: Soulard draws visitors all year for Mardi Gras, Oktoberfest, the Soulard Farmers Market, Cardinals games and CITY SC. Furnished, this building could run like a small Soulard boutique hotel. At St. Louis market averages (about $119 a night for a 1 bed and $241 a night for a 3 bed at roughly 40%, per AirROI data for Oct 2025 to Sep 2026). LOCATION: Walk Score 81. Steps from Soulard's bars and restaurants, an 8-minute walk to the Soulard Farmers Market, and a 5-minute drive to Busch Stadium and downtown. SEE OM FOR MAP SHOWING AMAZING LOCATION. SHOWINGS: Fully occupied. Showings are for pre-approved buyers only, by appointment through the listing agent. Please do not disturb the tenants. The listing agent has an ownership interest in the property.