2711 Gravois Avenue

Situated in Fox Park, close to the Benton West neighborhood of St. Louis, MO, this redevelopment project offers investors the chance to transform a historic brick building into a valuable income-generating asset while utilizing available state and federal historic tax credits. The current owner envisions a multifamily structure featuring 4-5 units on the first floor, 4 units on the second floor, and two spacious units on the third floor. A nearby new multifamily development is achieving rental rates exceeding $1.50 per square foot, suggesting that these apartments could potentially yield $9,000 per month and $108,000 annually, not accounting for parking and additional fees. This investment represents an ideal opportunity for an owner who possesses the expertise and skill set to manage a substantial development project with significant potential for high returns.

Highly-trafficked corner of Gravois Ave. in Fox Park, a highly desirable area of South City, St. Louis, MO.

Directly across the street from St. Francis de Sales Oratory – a Gothic-style church & adjacent school built at the turn of last century known to locals as the “Cathedral of South St. Louis” because of its elegantly-designed exterior and over 300-foot long spire.

Potential to build 10 new apartments in an area that can demand $1.50 per sf in rent

Close to popular areas such as Tower Grove Park, Benton Park, Soulard, Lafayette Square, and Downtown St. Louis

9,820 square feet of building eligible for both state and federal historic tax credits

The current ownership has undertaken extensive work on the building’s foundation and exterior brick, which includes:

+ Dismantling a collapsing chimney and reconstructing it to match the historic profile

+ Tuckpointing the exterior brick of both the walls and chimneys

+ Repairing and replacing essential sections of the exterior brick

+ Cleaning the entire exterior of the building using detergent