Value-Add Mixed-Use With 24 Units | 4205 Ellenwood Ave
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Value-Add Mixed-Use With 24 Units 4205 Ellenwood Ave
30 Apartment Units Online Auction Sale Saint Louis, MO 63116
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Investment Highlights
- 4205 Ellenwood Avenue presents a unique opportunity to acquire a mixed-use multifamily/retail asset in a sought after STL neighborhood.
- Immense value-add opportunity offering 73% occupancy, allowing significant upside through lease-up and incremental rental rate increases.
- Access to a population of 335,000 people within 5 miles, 52% of which rent as their primary form of housing.
- Prime location in the scenic Bevo Mill neighborhood, just 8 miles southwest of Downtown St. Louis.
- Ideally situated on a corner parcel with high visibility to roughly 25,000 vehicles per day.
Executive Summary
4205 Ellenwood Avenue presents the market with an excellent opportunity to acquire a mixed-use multifamily and retail asset in the greater St. Louis metropolitan area with 29 residential units. The offering includes two buildings on one parcel totaling 21,918 square feet of space on 0.9 acres of land. The exterior of the building flaunts unique white-stone finishes that increase curb appeal and offer residents and commercial tenants an inviting feel. The building is 73% occupied, including two commercial tenants in the ground-floor retail spaces. This mix of high occupancy with several remaining vacancies presents investors with a unique value-add opportunity to increase operational cash flow through a successful lease-up plan and improving units to increase rental rates.
This mixed-use building is located in the suburban neighborhood of Bevo Mill, just 8 miles southwest of St. Louis. The neighborhood was named after its historic landmark mill. The area offers a flourishing variety of restaurants, including bakeries, taverns, and cafes. Residents at 4205 Ellenwood Avenue will enjoy access to the main retail corridor of Gravois Avenue and all it has to offer.
The St. Louis Multifamily Market has seen strong rental demand as consumer sentiment has improved and the inflation rate has slowed. These factors have led to the absorption of 2,900 units by the end of Q3 2024. Vacancy in the market remains at a modest 9.8% as new properties come online that have been built to meet increased demand. After the post-pandemic construction boom, the construction pipeline is expected to slow, driving renters to previously built spaces. The market's new project completions are expected to reach a new 10-year low in 2025, which is expected to further improve the vacancy rate and create favorable conditions for landlords.
Property tours are available by appointment only. Please contact the broker to schedule.
This mixed-use building is located in the suburban neighborhood of Bevo Mill, just 8 miles southwest of St. Louis. The neighborhood was named after its historic landmark mill. The area offers a flourishing variety of restaurants, including bakeries, taverns, and cafes. Residents at 4205 Ellenwood Avenue will enjoy access to the main retail corridor of Gravois Avenue and all it has to offer.
The St. Louis Multifamily Market has seen strong rental demand as consumer sentiment has improved and the inflation rate has slowed. These factors have led to the absorption of 2,900 units by the end of Q3 2024. Vacancy in the market remains at a modest 9.8% as new properties come online that have been built to meet increased demand. After the post-pandemic construction boom, the construction pipeline is expected to slow, driving renters to previously built spaces. The market's new project completions are expected to reach a new 10-year low in 2025, which is expected to further improve the vacancy rate and create favorable conditions for landlords.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per Unit
Saint Louis - MO USA
Market Cap Rate
Saint Louis - MO USA
Market Sale Price per Unit by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per Unit Distribution
Market Cap Rate Distribution
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Conditions | Auction Sale | Lot Size | 0.90 AC |
| No. Units | 30 | Building Size | 21,918 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1925 |
| Apartment Style | Low Rise | Parking Ratio | 0.68/1,000 SF |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.90 AC |
| Building Size | 21,918 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Parking Ratio | 0.68/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | - |
| 1+1 | 12 | - | - |
Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 5465-00-0250-7 | Improvements Assessment | $80,750 |
| Land Assessment | $17,150 | Total Assessment | $97,900 |
PROPERTY TAXES
Parcel Number
5465-00-0250-7
Land Assessment
$17,150
Improvements Assessment
$80,750
Total Assessment
$97,900
zoning
| Zoning Code | F |
| F |
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 2016002032
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Value-Add Mixed-Use With 24 Units | 4205 Ellenwood Ave
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