About this property

2417-23 Menard Street is a rare opportunity to own a fully occupied, all-brick historic six-family in the heart of Soulard one of St. Louis' most walkable and highest-demand rental neighborhoods. Freshly repriced to $752,500, the building offers an in-place cap rate of roughly 7.26% with a proforma stabilized cap rate north of 10.3%.The unit mix features five 1-bedroom units and one oversized 3-bedroom / 2-bath, together generating $7,044/month ($84,528 annually) in in-place rent, with additional upside through lease rollovers and value-add execution. Current rents: 2419 ($1,060), 2419-A ($980), 2421 ($1,200), 2421-A ($910), 2423 ($1,120), and 2423-A ($1,774).Inside you'll find hardwood floors, exposed brick, soaring ceilings, updated interiors, and in-unit laundry in select units. Recent capital improvements include a new roof (2020) and new concrete patio (2022). The massive gated rear yard opens the door to off-street parking or additional outdoor amenities, and a large unfinished attic creates a clear value-add path: convert one of the existing 1BR/1BA units into a 3BR/2BA by expanding into the attic, with projected market rent of approximately $2,250/month upon completion.Seller is motivated to make a deal and strongly prefers to sell alongside the adjacent lot at 2417 Menard Street. Both are available to package together, offering a buyer added flexibility for parking, expansion, or future development on a single contiguous footprint.Located less than half a mile from Anheuser-Busch and minutes from Downtown St. Louis, tenants enjoy walking-distance access to Soulard's bars, restaurants, coffee shops, and the historic Soulard Farmers Market one of the most desirable rental locations in the city.Property is currently fully occupied. Call the listing agent to schedule a showing; preapproval or proof of funds required. Ask the listing agent for additional photos, rent roll, expenses, and system ages.

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