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St Louis Multi-Family Properties for Sale

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Newest St Louis Multi-Family Homes for Sale

$3,400,000
ACTIVE Status Garen Lafser
The Franklin School Apartments, a 75-unit, four-story, 77,127 SF historic conversion — originally built in 1909 as a school designed by prominent architect William Ittner and fully redeveloped in 2006 through a Historic Tax Credit renovation executed by HBD Construction, including all-new plumbing, electrical, HVAC, windows, and much more. The property leased to full occupancy within four months of that delivery, and nearly two decades later its core building systems remain sound, giving a buyer a renovation plan focused on cosmetic updates and lease-up rather than deferred infrastructure risk. At 66.7% occupancy with a predominantly month-to-month rent roll, the 25 vacant units here allow for a new owner to begin renovating and leasing immediately. Average in-place rents of $618/unit sit $232 below the $850/unit market average across 74 one-bedroom units and one studio, putting substantial upside within reach on nearly the entire building. Historic Tax Credit eligibility at the state and federal level further offsets renovation capital, and two attached grass lots add optionality for future parking or amenity development. Franklin School Apartments sits in Downtown West, less than one mile from the new NGA West headquarters — the $1.7 billion National Geospatial-Intelligence Agency campus and the largest federal investment in St. Louis history, bringing approximately 3,150 employees directly into the submarket. Just to the south, the new MLS Stadium (Energizer Park) was recently completed for $457 million and is a huge attraction and development catalyst for the neighborhood. A structurally sound, systems-renovated historic asset at $45,333/unit, a $232/month rent delta with an immediate lease-up runway, tax credit upside, and a location benefiting from the largest federal investment St. Louis has ever seen — Franklin School Apartments delivers outsized value-add potential with minimal execution risk.

814 N 19th St, St Louis

$539,900
ACTIVE Status Joey Schenck
Opportunity abounds on South 10th Street! Rarely does a property combine this much space, income, flexibility and lifestyle in historic Soulard. Tucked onto one of the neighborhood’s most coveted, quiet and tree-lined blocks, 1841 S 10th offers the comfort of a true single-family home, income from two existing apartments, hard-to-find off-street parking and one of St. Louis’s most social, historic and charming neighborhoods right outside the door. Formerly two apartments, the entire second floor was combined into an expansive 1,750+ SF owner’s residence. Large rooms, soaring ceilings, abundant natural light, a spacious kitchen, dedicated in-unit laundry and thoughtful updates create a comfortable home while preserving the historic character that makes Soulard special. Two updated first-floor apartments are occupied by long-term tenants paying $925 and $850 per month, providing $1,775 in day-one income. Market rents are estimated a$1,050–$1,100 per unit for long-term tradtional rentals and up to $1500 per unit for furnished or nightly rentals. Before becoming owner-occupied, the upper residence leased for $2,150 per month, creating multiple paths to income and long-term upside. First-floor tenants share laundry at the end of the main hallway. No basement stairs and no dark basement laundry room! Furnished, and / or nighlty rental rates coudl support $3,000/month income from this unit! What makes this exact location so special is the peace and quiet. The unusual street pattern around South 10th and tiny Emmet Street limits through traffic, creating a tucked-away residential pocket just blocks from Soulard’s busiest destinations. You can live close to everything without having everyone pass your front door. The membership-based Frenchtown Dog Park is also just steps from the rear alley, adding a rare and desireable neighborhood amenity for dog owners. In a neighborhood where parking is at a premium, the existing rear gravel pad, accommodating up to three cars, is a major advantage. Owners and tenants have dedicated off-street parking waiting at home, even during Mardi Gras and Soulard’s busiest event weekends, with additional on-street parking often available along this low-traffic block. Then, the Soulard lifestyle. Meet friends for drinks on Molly’s year-round patio, treat yourself to Asian-Fusion and craft cocktails steps away from your front door at Stews. Late-night weekend slices at Epic Pizza, karaoke at Carson’s, catch live music at The Hi-Hat, or start game day at Duke’s and ride its shuttle to a Cardinals or Blues home game. Host Mardi Gras, pick out your golf cart, wander through Soulard Market and enjoy the patios, architecture, festivals and unmistakable energy that make this neighborhood unlike anywhere else in St. Louis, then come home to the quiet of South 10th. Notable features and improvements include central air, updated electrical, PVC plumbing, more than $40,000 in updates and capital improvements since 2022, and a new roof in 2026. Move in and enjoy the amazing space today or unlock even more potential. The lofted attic features a dramatic vaulted ceiling, exposed brick walls and flexibility for many future uses. Prior architectural plans envisioned two additional bedrooms and two bathrooms, while the space could also become an office, studio, media room, fitness room or private retreat. The rear may offer additional possibilities for a private patio, enhanced parking or a future carriage-house concept. Owner-occupant, long-term investor, furnished-rental or second-home buyer, 1841 S 10th St. checks all the boxes. Minutes from Downtown with convenient access to I-44 and I-55, plus easy connections to I-64/40, I-70 and Gravois, the entire metro region remains within easy reach. Immediate income. A true owner’s home. Illusive off-street parking. Historic charm. The full Soulard lifestyle. Long-term upside. All at one unforgettable address. Opportunities like this do not come around often.

1841 S 10th St, St Louis

$300,000
ACTIVE Status Lindsey Jacobs
This charming brick two-family property offers classic South City character, spacious interiors, and an exciting opportunity for both investors and owner-occupants. Each unit features 2 bedrooms and 1 full bath, with generous living spaces, separate dining areas, beautiful hardwood flooring, crown molding, built-in details, and abundant natural light throughout. The interior was updated approximately 20 years ago and offers a bright, neutral foundation ready for its next owner’s personal touch. Behind the scenes, the property features PVC plumbing, an updated 150-amp electrical panel, and newer water heaters. The HVAC system is approximately 20 years old. The kitchen presents a unique opportunity to customize the space to suit your style. Seller is open to negotiating the installation of kitchen finishes as part of the sale, with the purchase price adjusted accordingly based on mutually agreed-upon finishes and scope of work. Renderings are available to showcase the potential of the finished space. Additional features include central air, forced-air natural gas heating, an unfinished walk-up basement with laundry, and a two-car carport. Whether you're looking to expand your investment portfolio, live in one unit while generating income from the other, or create a flexible multi-generational living arrangement, 5241 Sutherland offers character, versatility, and plenty of potential in a classic St. Louis setting. *Seller is open to negotiating the installation of kitchen finishes as part of the sale. Should the buyer select to have the kitchen completed, the purchase price will be adjusted accordingly based on the mutually agreed-upon finishes and scope of work. Seller is willing to negotiate an agreed-upon price for the completed kitchen.

5241 Sutherland Ave, St Louis

$999,000
ACTIVE UNDER CONTRACT Status Anthony Klier
1916-1922 Menard st is an 8-unit multifamily property in the heart of Soulard right in between Dukes and Great Grizzly. Half of the units are two-level 1015sqft 2bed/1.5bath that bring in $1356/month on average. The other four units are 1bed/1bath units that bring in $929/month on average. Currently the property brings in $9140/month or $109,680 annually. The total Expenses are $29,186 annually so the current Net Operating Income is $75,009 accounting for 5% vacancy. At the list price, the property has an in-place Cap Rate of 7.5%. The entire exterior of the property is brick and has some of the most beautiful architectural features you will find in all of the midwest. All of the windows in the rear are brand new and most of the deck in backyard is also new. The property features a big private backyard that is rare for the neighborhood. The property has Central Air and every unit has it's own electric/gas meter so the tenants pay a lot of their own utilities, keeping the expense ratio low. Currently, all of the tenants do laundry in the shared washers/dryers provided in the basement... this presents an EASY VALUE ADD OPPORTUNITY by simply adding in-unit laundry. 2bed/1.tbaths with in unit laundry in Soulard get $1650/month on average and 1beds get $1250. By just adding laundry to all the units, you should bring in $11,600/month or $139,200 annually. With the same expenses, this would make the Proforma NOI $110,010 and make the cap rate 11% at the current list price. Soulard is one of the easiest areas to lease/ keep a property full in St Louis as it is one of the most popular destinations for young professionals to live right after graduating college. Soulard is also where a lot of Saint Louis University and A.T. Still Dental students desire to live. Anheuser Busch headquarters is less than a 20 minute walks away and a large majority of employees choose to live in Soulard. Soulard is home to arguably the #2 largest Mardi Gras celebration in the St Louis. Increase your cashflow even more by turning some, or possibly all of the units into AirBnB/ short term rentals. AirBnBs are allowed in Soulard and with the combination of close proximity to downtown, dozens of bars/ restaurants and the fact there are no hotels in Soulard- you could really rake it in! The neighboring multifamily property has had amazing success with doing mid-term rentals and leasing to SSM Health/ Barnes Jewish Hospital nurses on a month-to-month basis for super high rents! The walkability of the property is truly unmatched... get your groceries at the amazing Soulard Farmers Market, grab coffee at the Protagonist or Goshen, get brunch at Hammerstones, lunch at Bogarts BBQ (best ribs in STL), grab a burger at Jack Nolen's (best burger in STL), catch any game at the Mizzou themed bar Rays or Dukes right next door, enjoy a bite to eat with live music at McGurks or 1860s, party at Mollys or Big Daddys or D's Place... the list goes on! This property is currently 100% occupied cash flowing a lot + has tons of upside + is in great condition in one of the best/ most historic areas of St Louis! Call to schedule a tour before it's too late! See the Rent Roll, expenses, additional photos and additional info in the supplements!

1916 Menard St, St Louis

$459,000
ACTIVE Status Johanna Dueren
Updated brick two-family in the heart of Dogtown; turnkey on both sides, whether you're adding to a portfolio or living in one unit while the other helps cover the mortgage. Both units feature two-bedroom, one-bathroom floor plans with original refinished hardwood flooring, fresh interior paint, updated ceiling fans, and large double-hung windows. Other value add updates include a NEW ROOF in 2025 and a NEW SEWER LINE, UPDATED ELECTRIC and UPDATED PLUMBING. Each kitchen includes white shaker cabinetry, granite countertops, white subway tile backsplashes, ceramic tile floors, and full stainless steel appliance packages: gas ranges, dishwashers, and full-size refrigerators. The bathrooms include updated vanities and fully tiled shower and tub surrounds. Large bedrooms with great closet space. The full unfinished basement has painted masonry walls and concrete floors, offering separate, secure storage areas along with two dedicated sets of washers and dryers. Outside, the property features a covered brick front porch and a private, fully fenced grass backyard shaded by mature trees.Great walkable pocket of the neighborhood, three blocks from Forest Park and within walking distance of Hi-Pointe Drive-In, The Cheshire, and local dining along Clayton and Tamm Avenues. Driving commutes are under ten minutes to Washington University's Danforth Campus, Saint Louis University, Barnes-Jewish Hospital/BJC Healthcare Campus, and Downtown St. Louis.

1127 Forest Ave, St Louis

$450,000
COMING SOON Status Karan Madra
Excellent investment opportunity at 1916 Serbian Drive in St. Louis! This well-maintained 4-unit residential building offers immediate rental income with 3 of the 4 units currently occupied, making it an attractive option for both seasoned investors and those looking to expand their rental portfolio. All four units are fully furnished and rent for $1,400 per month per unit, providing a strong income-producing opportunity. The sale includes all furnishings and appliances, allowing a new owner to step into an established, turnkey rental property without the additional expense of furnishing the units. With one unit currently available, a new owner has the potential to increase rental income by leasing the remaining unit, bringing the property to full occupancy. Property Highlights: 4 residential units 3 units currently occupied $1,400/month rent per unit Potential gross rental income of $5,600/month at full occupancy $67,200 potential annual gross rental income All units furnished Appliances included Furnishings included in the sale Turnkey investment opportunity One vacant unit provides immediate upside potential Whether you're looking for a cash-flowing investment or an opportunity to build your rental portfolio, this property offers established rental income, furnished units, and additional upside through full occupancy. Don't miss this opportunity to own an income-producing multifamily property in St. Louis!

1916 Serbian Dr, St Louis

$585,000
ACTIVE Status Tara Hacker
A rare opportunity to own an impressive historic brick mixed-use, multi-family building offering outstanding flexibility, income-generating potential and an included 3,382 SF side lot. This architecturally distinctive property is comprised of 2 spacious units and will be delivered completely vacant at closing, offering a true blank slate for investors, owner-users or live/work buyers. The 2,207 SF main-level unit was most recently used as a daycare and features a welcoming front reception area, 3 large and flexible rooms, 1 full and 1 half ADA-compliant restroom, a large stainless-steel commercial kitchen and storage space. The layout easily supports a variety of uses including office space, salon or spa, child or adult daycare, wellness services, doggy daycare, retail or a live/work residence. The adaptability of this space truly invites you to bring your imagination. The upper-level unit is a full apartment offering 2,527 SF of living space with a private entrance. The space offers a full kitchen, 4 bedrooms and elegant French doors opening to a light-filled sunroom that can serve as an office or 5th bedroom, highlighted by terrazzo floors and expansive windows. Highlights include 2 full bathrooms, a spacious living room, dining room and a large laundry room/den that leads to a private rooftop balcony just perfect for container gardening, BBQs and relaxing outdoor enjoyment. The building also offers a full basement with ample storage. The 1,000+ SF attached 5-car garage has been converted into a combination of finished and unfinished storage spaces but can easily be restored to garage use if desired. Off-street parking for 3 vehicles is available via the alley. Included in the sale is the 31’ x 109’ side lot, ideal for green space, expansion or the addition of a large garage or other improvements. Located in the highly desirable Northampton neighborhood, this property is a short walk from The Golden Hoosier, Bud’s Pizza, Piper’s Tea & Coffee and so much more. With its size, flexibility, additional land and vacant delivery, this property presents a truly unique opportunity with limitless potential.

5001 Pernod Ave, St Louis

$279,900
ACTIVE Status Samona Washington
Beautifully Renovated All-Brick Duplex – Dutchtown | Turnkey & Move-In Ready Fully updated all-brick duplex offering two spacious 1-bedroom, 1-bath units, both move-in ready with passed occupancy inspections. This is a true turnkey property with no deferred maintenance—just move in and start enjoying immediate value. Live in one unit while generating income from the other or add this turnkey property to your investment portfolio. Each unit features refinished hardwood floors, fresh neutral paint, updated lighting, and new windows throughout. Original stained-glass accents maintain classic South City charm while blending seamlessly with modern finishes. The kitchens in both units are fully updated with new cabinetry, granite countertops, contemporary flooring, and stainless steel appliances. The upper unit offers a more elevated design with gray cabinetry, gold hardware, and a stylish tile backsplash—ideal for premium rental income or an owner’s suite. Recent major improvements include new windows throughout, new decks and a new sewer lateral, providing long-term peace of mind. The clean, open basement includes separate new washer/dryer sets for each unit, along with an additional full bathroom, adding convenience and functionality for occupants. The first-floor unit furniture is negotiable, offering an easy, immediate move-in option for an owner-occupant or investor seeking a fully furnished rental. Exterior highlights include a fenced yard with mature fruit trees, a 2-car garage with remote access, and a covered carport providing ample off-street parking. Live in one unit and rent the other, or add a solid, low-maintenance asset to your portfolio. Conveniently located near parks, dining, shopping, and major highways. Nothing to do but move in—schedule your private showing today.

4331 S 38th St, St Louis

$2,250,000
COMING SOON Status Todd Murray
One-of-a-kind investment opportunity! Own an entire 5-unit boutique townhome complex totaling nearly 12,000 SF in a historic former horse stable/carriage house serving the nearby Compton Heights mansions. Redeveloped in 2014 using state and federal historic tax credits, the property blends irreplaceable historic character—including original beams and soaring ceilings—with modern construction, systems, kitchens, baths, wood floors, windows, appliances and fixtures. Each of the five townhomes offers a unique floor plan and personality, ranging from 2,098 to 2,748 SF, with 2-3 bedrooms, 2.5 baths, and dramatic loft-like living spaces. Two end units offer an abundance of windows, while several units feature open lofts, dens and/or clerestory windows. Unit E is the largest and most traditionally finished, offering 2,748 SF, 3 large bedrooms, 2.5 baths and granite countertops. Significant income upside! Two units are currently being used by the owner. The remaining units include one long-term rental, one short-term rental and one recently vacated unit, providing immediate flexibility and the opportunity for an investor to implement and optimize their preferred rental strategy. Recently created condominium documents for the Compton Heights Stables Condominium Association further expand the potential ownership and future disposition strategies available to an investor. Gated entry, 10 covered parking spaces (2 per unit), great common space and a private interior setting with all units facing the parking/common area rather than the street. Extensive solar panels on both the roof and carport add to the property's environmentally conscious approach. An exceptionally rare opportunity to acquire a distinctive, income-producing asset with historic character, modern amenities, flexibility and tremendous potential to increase returns. Situated a few blocks from Tower Grove Park and the Botanical Gardens, and conveniently located within walking distance to many of the Tower Grove, Shaw, Fox Park and South Grand restaurants & shops.

2315 Tennessee Ave, St Louis

$235,000
ACTIVE Status Tammy Derrigan
Investors and house hackers, check out this rehabbed duplex - bright and airy units in the heart of Benton Park West, steps from both Cherokee Street and South Grand. Soaring ceilings, exposed brick in open-concept living area with In-Unit Laundry for easy living. ALL the heavy lifting was done in 2019, with TPO roof, large "garage-port", new HVAC / electric / plumbing / water heaters, and PVC stacks. The updated kitchens feature granite countertops and stainless appliances (dishwasher, microwave, range, fridge). The 1F unit has 2-beds, 1-bath, in-unit laundry hookups (machines owned by tenant), rented for $950 month-to-month. The 2F unit has 2-beds, 2-baths (with an en suite master bedroom), and in-unit laundry (machines provided for tenant use), recently vacated; tenant was paying $1,375.  It's just 2 blocks to Cherokee Street for tacos, coffee, or music and dancing, and a short bike ride to Tower Grove Park, South Grand, Benton Park, or Soulard. Major highways are close by, making for an easy commute. 1F is occupied and can be shown with an accepted offer, but 2F, basement and exterior can be viewed with an appointment. Rentometer indicates an average of $1223 for a 2/1 and $1499 for a 2/2. With existing rents of $950 and most recent rent of $1375 the gross annual income is $27,900. Less annual operating expenses of $7601, the NOI is $20,299, making this an 8.63% cap rate at asking price. Ask your agent for financials, and make this the next addition to your portfolio!

3104 Wyoming St, St Louis

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