Versatile, income-producing opportunity in the heart of the Penrose neighborhood! Both the main and upper levels are currently tenant-occupied, providing rental income from the property from day one. Adding to its long-term flexibility, the property has a rare zoning variance allowing a daycare for up to 18 children on the main level, creating options for an investor or future owner with a variety of potential uses. The existing tenancy makes 4655 Farlin particularly appealing for an investor seeking a property with income already in place rather than starting with vacant units. Looking ahead, the property's distinctive configuration and daycare variance provide additional possibilities as leases and occupancy needs evolve, whether continuing its residential use or exploring the approved daycare use on the main level. Situated on a quieter one-way street, the property features a fenced yard that provides useful outdoor space, along with a garage accessed from the rear alley for convenient off-street parking and storage. The layout and exterior configuration lend themselves well to the property's flexible residential and permitted daycare uses. Located in the Penrose neighborhood, the property enjoys convenient access to public transportation, including multiple bus routes. Outdoor and community amenities include Penrose Park, WC Handy Park, Tink Bradley Playground, and nearby community gardens. Just minutes away, Fairground Park provides additional recreational opportunities with expansive green space, trails, and lakes. The area also offers convenient access to I-70, I-55, and downtown St. Louis, connecting the property with employment centers, hospitals, educational institutions, and other destinations throughout the city. Neighborhood schools, community organizations, churches, and everyday conveniences are also within the surrounding area. With tenants occupying both levels, existing rental income, a fenced yard, rear garage, and the unusual benefit of an approved daycare variance for up to 18 children on the main level, 4655 Farlin Avenue offers an investor a combination of current income and long-term flexibility that is difficult to replicate. Income potential, long-term ownership, and the ability to perform as a productive real estate asset are the reasons this property was selected as part of the Penthouse Portfolio Collection.
0 Bed
0 Bath
2,074 sq.ft
$0 per sq.ft
Apartment Style,Bungalow,Craftsman,Historic,Traditional
$ 100,000
Active
0
26058822
0
0
2,074
Lee Carr Add
St Louis City
St. Louis City
St Louis City
Residential Income
Apartment Style,Bungalow,Craftsman,Historic,Traditional
Residential Income
$271
Last 6 closed homes in this zip.
| Address | Bd/Ba | SqFt | List | Sold | Closed |
|---|---|---|---|---|---|
| 3409 Union Boulevard, St Louis City, MO 63115 | 0/0 | -- | $119,000 | $57,000 47.9% of ask |
Sep 10, 2026 |
| 4210 E Carter Avenue, St Louis City, MO 63115 | 2/1 | 1,150 | $25,000 | $15,000 60% of ask |
Sep 9, 2026 |
| 5420 Queens Avenue, St Louis City, MO 63115 | 4/2 | 1,248 | $38,000 | $25,000 65.8% of ask |
Sep 9, 2026 |
| 4709 Penrose Street, St Louis City, MO 63115 | 3/2 | 1,278 | $195,000 | $191,330 98.1% of ask |
Sep 8, 2026 |
| 4724 Kossuth Avenue, St Louis City, MO 63115 | 3/1 | 1,284 | $48,000 | $25,000 52.1% of ask |
Aug 31, 2026 |
| 5122 Aubert Avenue, St Louis City, MO 63115 | 2/1 | 1,020 | $85,000 | $49,000 57.6% of ask |
Aug 28, 2026 |
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This spacious 3-bedroom brick home presents an excellent opportunity for homeowners and investors alike. Full of character and potential, it's ready for the right owner to restore its charm and make it shine once again. Inside, you'll find tall ceilings, a classic staircase with original wood treads, and generously sized rooms that showcase the home's historic appeal. The main level features a welcoming living and dining area that flows into the kitchen, creating a functional layout for everyday living. Upstairs offers three comfortable bedrooms and a full bathroom, providing ample space for family, guests, or a home office. Step outside to enjoy the large backyard—a valuable feature that offers plenty of room for outdoor entertaining, gardening, or future improvements. Conveniently located near O'Fallon Park, major roadways, and neighborhood amenities, this property offers outstanding potential for both owner-occupants and investors. Property is being sold AS-IS. Seller will make no repairs and will not provide any inspections.
Excellant income producing property, 1st floor rented for 950.00 per month with a long term tenant, 2nd floor vacant. Tons of upgrades, excellant to add to your rental portfolio.
NICE 2 FAMILY LOCATED IN NORTH ST LOUIS CITY, SOLD AS IS Showing with accepted contract
