5572 Clemens Avenue, St. Louis, MO 63112
$635,000 (Available Now)

Completely Renovated 6-Family Near Forest Park and The Loop

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Investment Summary

Located within walking distance to Forest Park, Washington University North Campus, and The Loop, the building sits on a street with newer construction multi-family and single-family homes. One block from the recently renovated $100M Delmar Divine project, which includes apartments, national and local not-for-profits, and a café. Located two blocks from a recent $50M Delmar Trolley line that runs from The Loop to Forest Park and $1M+ homes on Washington Terrace.

  • The building comprises 7,500 square feet with 3-bedroom, 1-bath units, each 1,200 square feet.
  • The property was completely renovated from 2016-2018.
  • Features include 100% keyless entry. There are security cameras and LED lighting on all sides of the building, with additional exterior solar lighting on all walkways.
  • Four units were recently turned over and made rent-ready, including fully painting the units. Also, repairs to the exterior stairs were made and painted.
  • In August 2023, a granulated modified bitumen rubber roof was installed with a 3-year workmanship warranty and a 12-year manufacturer warranty.
  • In late 2023, new tenants started paying $999 base rent with an $85 utility fee, for a total of $1,084. Rents have gone up steadily since the renovation of the property.
  • Fair market value for a 3-bedroom section 8 apartment in St. Louis is $1,294 a month. If all tenants were section 8 tenants the potential gross monthly rent could be $7,764 a month which is $93,168 annualized.
  • New tenants pay for renters insurance through The Guarantors, which provides rental reimbursement to owners for tenants that default on rent and additional deposit coverage. Two tenants have renters insurance through The Guarantors; the two vacant units will have tenants with coverage, and the seller will credit the buyer for the two longer-term tenants who do not have coverage so that all 6 tenants are covered.
  • There are washer/dryer hookups for each individual unit in the basement at no additional cost.
  • There is potential to increase rents in the future both as-is and with future minor upgrades like adding in-unit washer and dryer or charging for providing washer and dryers in the basement for each tenant. There are numerous apartments rented nearby for substantially more than the highest rents in the building.
  • The average rent for six 3-bed, 1-bath units within a mile in the last year is $1,434.
  • The seller is a licensee in the state of Missouri.
  • Virtual tours are available for 4 of the building’s units using the links below:

2016 – 2018 Renovations Include:

  • All brand new kitchens including granite countertops, cabinets, appliances, dishwashers, microwaves, and garbage disposals. 
  • Bathrooms featuring vanities with granite countertops, a new shower surround, and new flooring. 
  • Completely keyless building. Apartment interior, exterior entrances, basement entrances, and the main common door have code access with different codes for owners, tenants and vendors. 
  • 109 double pane windows were replaced.
  • The flooring was replaced throughout the entire building.
  • All interior and exterior doors were replaced.
  • Electric was upgraded to 200 amp service in all units with new exterior electric service added.
  • HVAC was replaced throughout with condensers installed on the roof. Furnaces are electric.
  • Stacks are PVC and new plumbing was added in the kitchens and bathrooms.
  • All water heaters were replaced. 
  • Sewer lateral was replaced on one side of the building. 
  • New roof was recently added.   
  • The exterior staircases wrought iron were rebuilt on both sides of the building with roofs extended over the staircases. 
  • Security cameras are installed on every side of the building. 
  • There is LED exterior dawn to dusk lighting installed on every side of the building. 
  • The building was landscaped. 
  • The building was spot tuckpointed.
  • Gutters and downspouts were replaced. 
  • 2-inch blinds were installed throughout.

Supplemental Documents

Property Location

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Property Details:
Square Footage: 11200 County: St. Louis City Units: 5+ Condition: Turn Key Occupancy: Some Units Vacant Parking: On Street Parking Heating: Gas Heat Cooling: Central Gas Construction: Brick Basement: N/A
Home Amenities:
  • Some Dishwashers
  • Microwaves
  • Fridge
  • Stove
Agent Details:
Owner / Broker: Jordan Schoen Phone: (314) 255-5117 Fax: (314) 480-7053
Contact Agent: Please use the form below to contact agent Jordan Schoen about this listing.

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