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5909 Cates Ave, 
St Louis, MO 63112

$1,000,000


Bed


Bath


9,681

Sq Ft


Multi-Family

Pending

Listed by

Benjamin Wedi

David Ounanian

eXp Realty, LLC.

Last updated:

July 9, 2026, 09:01 AM

MLS#

26036707

Source:

MO MARIS

About This Home

5909 Cates Ave

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.

Home Facts

Multi-Family

Built in 1923

Price Summary

1,000,000

$103 per Sq. Ft.

MLS #:

26036707

Last Updated:

July 9, 2026, 09:01 AM

Added:

2 day(s) ago


Rooms & Interior

Interior

Living Area:

9,681 Sq. Ft.


Structure

Structure

Architectural Style:

Mid-Rise 3or4 Story

Building Area:

9,681 Sq. Ft.

Year Built:

1923


Lot

Lot Size (Sq. Ft):

10,672


Finances & Disclosures

Finances

Price:

$1,000,000

Price per Sq. Ft:

$103 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.