4244 Chouteau Avenue, Saint Louis, MO 63110

Property Description

Chouteau Lofts is a 29-unit, 40,880 SF multifamily building at 4244Chouteau Avenue in St. Louis's Forest Park Southeast neighborhood,currently 95% occupied. The unit mix includes four studios, thirteenone-bedroom/one-bath units, two two-bedroom/one-bath units, onetwo-bedroom/one-and-a-half-bath unit, and nine two-bedroom/two-bath units. Originally built in 1896, the building underwent a completeredevelopment between 2007 and 2009 that modernized all buildingsystems, and every unit has since been updated.The location puts residents within one mile of BJC HealthCare andBarnes-Jewish Hospital, the region's largest employer with over 30,000employees, and the Washington University Medical Campus, supportinga deep and durable renter pool. Nearby demand drivers include theCortex Innovation Community, a 200-acre technology and biosciencedistrict representing approximately $1.33 billion in development, alongwith Forest Park, Saint Louis University, and direct MetroLink access viathe Cortex Station.In-place rents average $1,234 per unit per month against average marketrents of $1,443, a $222 per unit monthly gap that an incoming owner cancapture through disciplined lease execution as units turn.

Property Features

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