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Concord Apartments 3646 Illinois Ave 38 Unit Apartment Building $3,877,748 CAD ($102,046 CAD/Unit) Saint Louis, MO 63118
INVESTMENT HIGHLIGHTS
- 38 - 1 bedroom units
- 14 vacant units allow for quick lease-up and NOI growth
- In-place rents ~8% below market - Occupied units are under $700/month, offering built in value-add potential
- Strategic renovations and improved management present a simple value-add opportunity
EXECUTIVE SUMMARY
Salient Realty Group is pleased to present the Concord Apartments located in the heart of South City in St. Louis. The property consists of 38, 1 bedroom units.
In-place rents average around $685/month, with renovated units achieving $743/month, showing clear rent upside. The property currently has 14 vacant units ready for lease-up creating immediate upside through stabilization and rent growth.
In-place rents average around $685/month, with renovated units achieving $743/month, showing clear rent upside. The property currently has 14 vacant units ready for lease-up creating immediate upside through stabilization and rent growth.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $3,877,748 CAD | Building Class | C |
| Price Per Unit | $102,046 CAD | Lot Size | 0.90 AC |
| Sale Type | Investment | Building Size | 23,744 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 63% |
| No. Units | 38 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1.05/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | B, City | ||
| Price | $3,877,748 CAD |
| Price Per Unit | $102,046 CAD |
| Sale Type | Investment |
| Sale Condition | High Vacancy Property |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.90 AC |
| Building Size | 23,744 SF |
| Average Occupancy | 63% |
| No. Stories | 1 |
| Year Built | 1959 |
| Parking Ratio | 1.05/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | B, City |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Gated
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 38 | - | 500 |
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $231,426 CAD | |
| Land Assessment | $20,795 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $210,630 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$20,795 CAD
Improvements Assessment
$210,630 CAD
Total Assessment
$231,426 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Concord Apartments | 3646 Illinois Ave
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