Multi-Family for Sale: 4648 Gravois Avenue, St Louis, MO 63116
4648 Gravois Avenue, St Louis, MO 63116
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Est. payment: Skip to Mortgage Calculator
Lot Size: 0.25 acres
Year Built: 1927
City: St Louis
County: St Louis City
School District: St. Louis City
Subdivision: Bevo Mill
DOM: 13 days
The Drake Apartments is a cash flowing 20-unit property in the heart of Bevo Mill, a neighborhood rich with St Louis history. Consisting of 16 one bed/one bath residential units and 4 untapped commercial units. A true value-add opportunity with significant upside potential. The roof was fully replaced in 2020 and light renovation on 14 of 16 residential units. New HVAC has been purchased but not installed for the first floor commercial space. Strategies for increasing NOI include completing renovation and leasing the 6,450 sf of commercial space, raising residential units rents to market rate, renovating and leasing the vacant residential unit, leasing 1,000 sf out-building for storage and converting three apartments to 2 bed. This building has a unique cut-out in the middle of the second and third floor that allows for each of the interior units to have windows receiving natural light. Located on major commercial corridor close to amenities, employers and easy access to highways.
Lot & Building Features
Cooling: Window Unit(s)
Heat Source: Electric, Gas
Heating: Forced Air
Parking Description: On Street
Sewer: Public Sewer
Tax Year: 2021
Taxes Paid: $236
Lot Dimensions: 70x128 ft
Community and Schools
Elementary School: Oak Hill Elem.
Junior High School: Long Middle Community Ed. Center
Senior High School: Roosevelt High
Price History of 4648 Gravois Avenue, St Louis, MO
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.
4648 Gravois Avenue, St Louis, MO
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Listed by Tower Real Estate Group, Eric Schultz & Mike Cromie
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Listing information courtesy of: Tower Real Estate Group
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