Multifamily
Soulard 13-Unit Apartment Portfolio
1523 S 10th St, St. Louis, MO 63104
Listing Price: $1,362,562
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in Soulard Condos, a 13-unit multifamily offering comprising approximately 12,394 rentable square feet at 1523 S 10th Street, St. Louis, MO 63104. Built in 1978 and substantially renovated in 2016, the masonry building sits minutes from downtown St. Louis and within walking distance of the Anheuser Busch Brewery. The Property is 100% occupied across all 13 units, producing $15,687 in monthly rent and $188,244 of annualized gross rental income.
The unit mix consists of nine (9) one-bedroom / one-bath units averaging 900 square feet and four (4) two-bedroom / two-bath units averaging 1,074 square feet, for an average unit size of 953 square feet. Current average rent is $1,207 per unit ($1.27 per square foot), with one-bedrooms averaging $1,091 and two-bedrooms averaging $1,466. All 13 units are leased, with staggered expirations running through August 2027, and the Property has historically operated at or near full occupancy.
Unit upgrades include granite counters in kitchens and baths, hardwood and luxury vinyl flooring, updated HVAC, windows and lighting, in-unit private laundry, spacious open floor plans, and gated off-street parking
at a 1:1 ratio.
Soulard 13-Unit Apartment Portfolio
Investment Highlights
- 100 Percent Occupancy – All Thirteen (13) Units are Leased as of 20 July 2026, and the Property has Historically Operated at or near Full Occupancy with Private Gated Off-Street Parking
- In-Place Income – $15,687 in Monthly Rent and $188,244 of Annualized Gross Rental Income, with Lease Expirations Staggered through August 2027
- Established Cash Flow – 2026 Proforma Net Operating Income of $95,621 Against $92,623 of Operating Expenses, a 49.2 Percent Expense Ratio
- Attractive Basis – Indicated Value of$1,362,562 at an 7.02 Percent Capitalization Rate Approximately
- Soulard Location – 1523 S 10th Street, Minutes from Downtown St. Louis and within Walking distance of the Anheuser Busch Brewery.
- Renovated Asset – Built in 1978 and Substantially Renovated in 2016, with Granite Counters, Hardwood and Luxury Vinyl Flooring, and Updated HVAC, Windows and Lighting
- Large Floor Plans – 953 Square Foot Average Unit Size Across Nine One-bed / One-bath and Four Two-Bed / Two-Bath Units, with In-Unit Private Laundry and Gated 1:1 Off-Street Parking
- Rent Upside – Current Average Rent of $1,207 per Unit sits Below the Soulard Rent Comparable Set, Supporting Mark-to-Market Growth.
Exclusively Listed By
Financing By
Listing Price: $1,362,562
Investment Highlights
- 100 Percent Occupancy – All Thirteen (13) Units are Leased as of 20 July 2026, and the Property has Historically Operated at or near Full Occupancy with Private Gated Off-Street Parking
- In-Place Income – $15,687 in Monthly Rent and $188,244 of Annualized Gross Rental Income, with Lease Expirations Staggered through August 2027
- Established Cash Flow – 2026 Proforma Net Operating Income of $95,621 Against $92,623 of Operating Expenses, a 49.2 Percent Expense Ratio
- Attractive Basis – Indicated Value of$1,362,562 at an 7.02 Percent Capitalization Rate Approximately
- Soulard Location – 1523 S 10th Street, Minutes from Downtown St. Louis and within Walking distance of the Anheuser Busch Brewery.
- Renovated Asset – Built in 1978 and Substantially Renovated in 2016, with Granite Counters, Hardwood and Luxury Vinyl Flooring, and Updated HVAC, Windows and Lighting
- Large Floor Plans – 953 Square Foot Average Unit Size Across Nine One-bed / One-bath and Four Two-Bed / Two-Bath Units, with In-Unit Private Laundry and Gated 1:1 Off-Street Parking
- Rent Upside – Current Average Rent of $1,207 per Unit sits Below the Soulard Rent Comparable Set, Supporting Mark-to-Market Growth.
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire the fee simple interest in Soulard Condos, a 13-unit multifamily offering comprising approximately 12,394 rentable square feet at 1523 S 10th Street, St. Louis, MO 63104. Built in 1978 and substantially renovated in 2016, the masonry building sits minutes from downtown St. Louis and within walking distance of the Anheuser Busch Brewery. The Property is 100% occupied across all 13 units, producing $15,687 in monthly rent and $188,244 of annualized gross rental income. The unit mix consists of nine (9) one-bedroom / one-bath units averaging 900 square feet and four (4) two-bedroom / two-bath units averaging 1,074 square feet, for an average unit size of 953 square feet. Current average rent is $1,207 per unit ($1.27 per square foot), with one-bedrooms averaging $1,091 and two-bedrooms averaging $1,466. All 13 units are leased, with staggered expirations running through August 2027, and the Property has historically operated at or near full occupancy. Unit upgrades include granite counters in kitchens and baths, hardwood and luxury vinyl flooring, updated HVAC, windows and lighting, in-unit private laundry, spacious open floor plans, and gated off-street parking at a 1:1 ratio.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
