Sandalwood Apartments is a 42-unit, garden-style multifamily community at 8404 Halls Ferry Road in the established Baden neighborhood of north St. Louis City. Built in 1964, the asset comprises five brick buildings on a 1.316-acre site with 25 surface parking spaces, offering an all one-bedroom/one-bathroom unit mix that appeals to the area's steady renter base. Occupancy recovery - The offering represents a compelling occupancy-recovery story. Following a January 2025 fire and a substantial redevelopment of the affected units, the property has returned to stabilized performance: the June 2026 tenant roster documents 40 of 42 units leased - 95.2% occupancy - at in-place rents of $700 to $750 per month. That recovery reverses the 2022-2024 downtrend and re-establishes durable in-place cash flow, with in-place rents sitting at or slightly above the Baden submarket asking benchmark. At the proposed list price of $1,999,000, or $47,595 per unit, Sandalwood delivers an 11.08% in-place cap rate on a stabilized net operating income of $221,319 and a gross rent multiplier of 5.72x. The per-unit basis sits within the confirmed non-distressed comparable range of $30,952 to $66,500 in the submarket - below the recent high - and is supported by the property's restored occupancy and demonstrated cash flow rather than a speculative turnaround. The Baden location offers strong fundamentals: frontage on Halls Ferry Road carries 18,787 vehicles per day on a primary north St. Louis City corridor, with roughly 15 minutes to Lambert International Airport and convenient access to regional commuter rail. Zoning is F - Neighborhood Commercial. Sandalwood is well-positioned for stabilized-income buyers, portfolio acquirers, and 1031 exchange investors seeking cash-flowing multifamily in the St. Louis market. The property is offered on an all-cash, 1031 exchange, or portfolio basis, providing acquisition flexibility across a range of buyer profiles.
0 Bed
0 Bath
15,800 sq.ft
$0 per sq.ft
Other
$ 1,999,000
Pending
0
26052146
0
0
15,800
City/St Louis
St Louis City
St. Louis City
St Louis City
Residential Income
Other
Residential Income
$8,755
Last 6 closed homes in this zip.
| Address | Bd/Ba | SqFt | List | Sold | Closed |
|---|---|---|---|---|---|
| 8814 Riverview Boulevard, St Louis City, MO 63147 | 0/0 | 3,264 | $175,000 | $175,000 100% of ask |
Sep 4, 2026 |
| 8644 Church Road, St Louis City, MO 63147 | 3/1 | 1,440 | $108,000 | $108,000 100% of ask |
Sep 1, 2026 |
| 1001 Wall Street, St Louis City, MO 63147 | 2/1 | 1,014 | $35,000 | $30,000 85.7% of ask |
Aug 20, 2026 |
| 5916 Alpha Avenue, St Louis City, MO 63147 | 3/1 | 1,256 | $81,900 | $81,900 100% of ask |
Aug 19, 2026 |
| 858 Canaan Avenue, St Louis City, MO 63147 | 3/1 | 960 | $82,000 | $60,000 73.2% of ask |
Aug 7, 2026 |
| 748 Ponce Avenue, St Louis City, MO 63147 | 3/2 | 768 | $68,000 | $70,000 102.9% of ask |
Aug 6, 2026 |
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Estimate only. Not a loan offer. Consult a lender for an accurate quote, including HOA fees, PMI, and current rates.
Broker owned. Sold As-IS. Back on market at a reduced price. Seller will not do any repairs nor pay for any inspections. Comps estimated at $150,000 -- $165,000 ARV. City bungalow 3 total bedrooms, (2 up 1 down) 2 baths ( 1 up 1 down) , brick exterior, main floor family room, full walk-out basement, fence yard with a 1 car garage and parking pad. More storage room in attic. Schools are not verified. Must have real estate agent/broker to proceed. Seller disclosure supplement will be made part of contract. No utilities to turn on. No inspections and NO Inspection contingencies.. Buyer to do due diligence prior to submitting an offer. Ask for sellers disclosure/supplement. Must close at sellers title company. See MLS attachment as part of contract offers.
MAJOR PRICE ADJUSTMENTS – MOTIVATED SELLER Two tenant-occupied St. Louis investment properties SIGNIFICANTLY REDUCED and available individually or as a package. 8526 Lowell St – NOW $63,990, reduced from the original $80,000 — a $16,010 price reduction-Currently rented at $1,050/month, generating $12,600 annually, with a gross rent yield of approximately 19.7%. 1039 Wall St, St Louis MO 63147 – NOW $47,990, reduced from the original $60,000 — a $12,010 price reduction-Currently rented at $800/month, generating $9,600 annually, with a gross rent yield of approximately 20.0%. PACKAGE PRICE: $111,980. Combined rental income is $1,850/month or $22,200 annually, representing a gross rent yield of approximately 19.8%. Both properties are tenant occupied, income producing, and sold AS-IS, offering investors an opportunity to add two affordable rental properties to their portfolio. Please allow 24-hour notice for all showings and do not disturb the tenants. Proof of funds or lender pre-approval must accompany all offers. Buyer and buyer’s agent are responsible for verifying all property information, measurements, and other pertinent information.
Two tenant-occupied St. Louis investment properties SIGNIFICANTLY REDUCED and available individually or as a package. 1039 Wall St – NOW $47,990, reduced from the original $60,000 — a $12,010 price reduction-Currently rented at $800/month, generating $9,600 annually, with a gross rent yield of approximately 20.0%. 8526 Lowell St, St Louis MO 63147 – NOW $63,990, reduced from the original $80,000 — a $16,010 price reduction-Currently rented at $1,050/month, generating $12,600 annually, with a gross rent yield of approximately 19.7%. PACKAGE PRICE: $111,980. Combined rental income is $1,850/month or $22,200 annually, representing a gross rent yield of approximately 19.8%. Both properties are tenant occupied, income producing, and sold AS-IS, offering investors an opportunity to add two affordable rental properties to their portfolio. Please allow 24-hour notice for all showings and do not disturb the tenants. Proof of funds or lender pre-approval must accompany all offers. Buyer and buyer’s agent are responsible for verifying all property information, measurements, and other pertinent information.
