1722 Waverly Pl 8 Unit Apartment Building $1,836,418 CAD ($229,552 CAD/Unit) Saint Louis, MO 63104

Located on a quiet, tree-lined street in the heart of Lafayette Square, 1722 Waverly Place is a well-maintained 8-unit historic brick multifamily offering strong in-place income with clear upside potential. Built in 1914, this classic St. Louis brick row/flat showcases timeless architecture while benefiting from recent capital improvements that reduce near-term maintenance for the next owner.
The property features a desirable unit mix consisting of five (5) one-bedroom/one-bath units, one (1) two-bedroom/one-bath unit, one (1) three-bedroom/one-bath unit, and one (1) two-bedroom/two-bath unit, generating a current monthly gross rent of $8,268 (subject to rent roll verification). Units are all residential and appeal to the strong rental demand typical of the Lafayette Square area.
Recent updates include new electrical systems and a new hot water heater completed in October 2024, along with exterior repairs, providing operational stability and reduced capital exposure. The building includes an unfinished basement with access to systems and potential for shared tenant storage.
A vacant detached rear garage is included and presents a value-add opportunity for a new owner to repair and monetize as covered parking or rentable storage. Additionally, the sale includes 1728 Waverly Place, a separately deeded adjacent vacant lot currently used as tenant greenspace. Future possibilities for the lot may include enhanced outdoor amenities, off-street parking (subject to neighborhood guidelines), or long-term redevelopment potential in line with surrounding values.
Situated just steps from Lafayette Square Park, tenants enjoy walkable access to one of St. Louis’ most sought-after neighborhoods, known for historic charm, dining, cafés, and boutique shops. Street parking is readily available.
This is a compelling opportunity for investors seeking a stabilized asset with multiple upside paths in a premier historic neighborhood.