NOT LISTED FOR SALE
12 Beds
-- Bath
7,800 Sq Ft
9,148 Sq Ft Lot

Last Sold February 28, 2023

6 Days on Market

About This Home

As of February 2023

Salient Realty Group is pleased to present this opportunity to acquire 3515 Magnolia, a 12 unit apartment building located in heart of the highly desirable Tower Grove South neighborhood of St. Louis City. The building consists of 12, 1 bed / 1 bath units. Three of the twelve units have been renovated with updated flooring, kitchens and baths. The property has 12 off street parking spaces, a rare features for properties in the area.

The average rent is currently well below market at $690 and similar units in the area are renting for $825 - $850, this presents a tremendous value add opportunity. Tower Grove East has one of the strongest rental markets in St. Louis City. The property is walkable to Tower Grove Park and the South Grand district which is home to many restaurants, bars, and shops.

Last Agent to Sell the Property

Tim McCarthy

Salient Realty Group, LLC License #2019034093 Listed on: 12/20/2022

Co-Listed By

Garen Lafser

Salient Realty Group, LLC License #2015014613

Last Buyer's Agent

Kelsey Snell

Garcia Properties License #2018003810

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1966

Lot Details

  • Lot Dimensions are 54x170

Parking

  • Parking Lot

Home Design

  • 7,800 Sq Ft Home

Schools

  • Shenandoah Elem. Elementary School
  • Elias Michael Elem. Middle School
  • Roosevelt High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Electric Water Heater

Community Details

  • 12 Units

Listing and Financial Details

  • Tenant pays for electric
  • Assessor Parcel Number 1442-00-0350-0

Property Details

Home Type

Apartment

Year Built

Built in 1966

Lot Details

0

Listing Details

  • Sale Includes: Building & Land
  • Property Type: Multi-Family 5+
  • Type: Apartment Complex
  • Municipality Township: St. Louis City
  • Age: 57
  • Year Built: 1966
  • Directions: GPS
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Square Footage: 7800

Garage/Parking

  • Parking: Parking Lot

Utilities

  • Sewer: Public
  • Water: Public
  • Water Heater: Electric
  • Cooling: Wall Unit(s)
  • Heating: Baseboard

Schools

  • School District: St. Louis City
  • Elementary School: Shenandoah Elem.
  • Middle School: Elias Michael Elem.
  • High School: Roosevelt High
  • Elementary School: Shenandoah Elem.
  • Junior High School: Elias Michael Elem.
  • School District: St. Louis City
  • Senior High School: Roosevelt High

Lot Info

  • Lot Dimensions: 54x170

Rental Info

  • Tenancy Type: Month To Month
  • Tenant Pays: Electric

Multi Family

  • Building Number: 1
  • Gross Operating Income: 100605.00
  • Total Units: 12
  • Total Expenses: 29528.00

Tax Info

  • Taxes Paid: 6640
  • Assessor Parcel Number: 1442-00-0350-0

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/28/2023 02/28/23 Sold -- -- --
01/24/2023 01/24/23 For Sale $930,000 0.0% $119 / Sq Ft
01/24/2023 01/24/23 Off Market -- -- --
01/16/2023 01/16/23 For Sale $930,000 0.0% $119 / Sq Ft
12/27/2022 12/27/22 Pending -- -- --
12/20/2022 12/20/22 For Sale $930,000 -- $119 / Sq Ft
Source: MARIS MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: MARIS MLS

MLS Number: MIS22078520

MARIS MLS

APN: 144200-03500