USAMOSaint LouisClemens Place Add5909 Cates Ave
Listing image | Image 1

5909 Cates Ave, Saint Louis, MO

House

Other

Listed price in listed location currency (USD).
$1,000,000

000

MLS® 26036707

  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Residential Income
Size 9681 sqft
Garage 
Taxes 
Days Active 28
Lot Size 0.245 Acres
Approx. Age 1923
Avg. Price Per Sqft $103
MLS® Number 26036707

Property Address: 5909 Cates Ave, Saint Louis, MO, 63112-2058

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

Description

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 with 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.
MLS® Number26036707
Laundry LevelEnsuite
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1923
Basement
DrivewayOff Street, Parking Pad
Garage Spaces
HeatForced Air, Natural Gas
A/CCentral Air, Electric

Extras

Price History

-End Date
Not Sold YetSold Price

Other

Jun 10, 2026List Date
$1,000,000List Price
-End Date
Not Sold YetSold Price

For Rent

Jul 8, 2026List Date
$1,795List Price
  • Commute

Commute

Starting Address
Destination Address
5909 Cates Ave, Saint Louis, MO

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Listing Agent

Benjamin Wedi

[email protected]
(314) 828-9619
David Ounanian

Listing Agent

David Ounanian

[email protected]
(314) 807-0657
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