USAMOSaint LouisLarimore Hills1123 Rhea Ave
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$1,349,000

For Sale

5 hours ago

1123 Rhea Ave, Saint Louis, MO

House

MLS® 26041344

0 Bed

0 Bath

864 sqft

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  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 864 sqft
Garage 
Taxes $1,682
Days Active 0
Lot Size 0.1242 Acres
Approx. Age 1959
Avg. Price Per Sqft $1,561
MLS® Number 26041344

Property Address: 1123 Rhea Ave, Saint Louis, MO, 63138-2823

Average square foot calculated using Size range provided by listing agent.

Description

Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11, 519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14, 100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16, 700/month, with estimated annual operating expenses of approximately $53, 000 and projected stabilized NOI of approximately $147, 000/year. At the $1, 350, 000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
MLS® Number26041344
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1959
Basement
Driveway
Garage Spaces
Heat
A/CCentral Air

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jul 3, 2026List Date
$1,349,000List Price
  • Commute

Commute

Starting Address
Destination Address
1123 Rhea Ave, Saint Louis, MO

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Listing Agent

Matt Guignon

[email protected]
(314) 707-8314
JS

Listing Agent

Joey Schenck

[email protected]
314-221-1109
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