Under Contract

5909 Cates Ave

Saint Louis, MO 63112
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Bed 0

Bed

Bath 0

Bath

SqFt9,681

Sqft

Acres0.25

Acre(Lot)

Rare opportunity to acquire a fully repositioned 6-unit multifamily building in the heart of St. Louis's historic West End — steps from the Central West End, Washington University, the Delmar Loop, and Forest Park. This classic 3-story brick walk-up has undergone a comprehensive $550,000 renovation, delivering six spacious 3-bedroom/2-bathroom units averaging 1,500 SF each — one of the largest unit configurations available in this submarket. All interior work is 100% complete, including premium new kitchens, updated bathrooms, modern flooring, and brand-new mechanical, electrical, and plumbing systems throughout. Four units are currently occupied with leases in place, and two turnkey-ready units are available for immediate lease-up at market rate. Current in-place income is $7,379/month wi th a stabilized annual income of $132,108 including utility reimbursements. At the $1,000,000 list price, the property delivers a 9.79% acquisition cap rate — significantly above the local market average of 7.40% — with an as-is appraised value of $1,040,000, providing immediate equity at closing. With all-new MEP systems in place, capital expenditure liability over the next 7–10 years is expected to be minimal. In-unit washer/dryer hookups in every unit support above-average rents and tenant retention. An ideal acquisition for investors seeking immediate cash flow, strong yield, and long-term appreciation in one of St. Louis's most supply-constrained rental corridors.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,000,000

AD Id : 82618872

MLS Id : MIS26036707

Lot Size : 0.25 Acre

Living Area Size : 9,681

Year Built : 1923

County : Saint Louis City

Subdivision: Clemens Place Add

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Feature Features

  • Room Information

    Has Basement: Yes
  • Flooring Information

    Flooring: Vinyl Construction Materials: Brick
  • Heating & Cooling

    Heating: Forced Air, Natural Gas Cooling: Central Air, Electric WaterSource: Public

  • Building Information

    Year Built: 1923

  • Lot Information

    Lot Square Feet: 10672.2 Lot Acres: 0.245

    Property Information

    Property Type: Residential Income Sub Type: 5 Family or More Style: Mid-Rise 3or4 Story Structure Type: Apartment Building

  • Listing Price Information

    Original List Price:$1000000

  • Tax Information

    Parcel Number: 4539-00-0230-0

  • Parking Information

    Off Street, Parking Pad

  • School Information

    Elementary School: Hamilton Elem. Community Ed. Junior High School: Langston Middle Senior High School: Sumner High
  • Utility Information

    Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected Water Source: Public
  • Location Information

    Subdivision: Clemens Place Add City: St Louis
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
5338 Wabada Avenue, Saint Louis, MO, 63112 $26,000 2 1 935 935 SqFt
5518 Maffitt Avenue, Saint Louis, MO, 63112 $110,000 2 1 --
1519 Arlington Avenue, Saint Louis, MO, 63112 $40,000 -- -- 6,010 6,010 SqFt
5331 Ridge Avenue, Saint Louis, MO, 63112 $140,000 4 2 2,671 2,671 SqFt
5315 Cabanne Avenue, Saint Louis, MO, 63112 $995,000 -- -- 31,898 31,898 SqFt
34 Waterman Place, Saint Louis, MO, 63112 $850,000 5 4 3,886 3,886 SqFt
5439 Vernon Avenue, Saint Louis, MO, 63112 $288,000 4 3 2,112 2,112 SqFt
5531 Maple Avenue, Saint Louis, MO, 63112 $155,000 3 2 980 980 SqFt
5809 Dr Martin Luther K.., Saint Louis, MO, 63112 $175,000 -- -- --
37 Washington Terrace, Saint Louis, MO, 63112 $1,995,000 7 6 9,667 9,667 SqFt
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ByOwner last updated this listing 06/22/2026 @ 18:20

MLS: MARIS2 #26036707 LISTED BY: Benjamin Wedi, EXP Realty, LLC 866-224-1761 SOURCE: MARIS MLS (Listings courtesy of MARIS MLS as distributed by MLS GRID)

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