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1123 Rhea Avenue, Spanish Lake, MO 63138

Spanish Lake
Local realty services provided by:CENTURY 21 Community
1123 Rhea Avenue,Spanish Lake, MO 63138
$1,349,000
  • - Beds
  • - Baths
  • 864 sq. ft.
  • Multi-family
  • Active
Listed by: matt guignon, joey schenck
Office: invest st. louis
MLS#:26041344
Source:MO_MARIS

Price summary

  • Price:$1,349,000
  • Price per sq. ft.:$1,561.34

About this home

Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses...

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Home facts

  • Year built:1959
  • Subdivision & Development:Larimore Hills
  • Listing ID #:26041344
  • Added:113 day(s) ago
  • Updated:October 24, 2026 at 03:29 PM

Rooms and interior

  • Living area:864 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Central air:Yes

Structure and exterior

  • Year built:1959
  • Building area:864 sq. ft.
  • Lot area:0.12 Acres
  • Architectural Style:Ranch
  • Construction Materials:Vinyl Siding

Schools

  • High school:Hazelwood East High
  • Middle school:Southeast Middle
  • Elementary school:Larimore Elem.

Finances and disclosures

  • Price:$1,349,000
  • Price per sq. ft.:$1,561.34
  • Tax amount:$1,682 (2025)
MLS LogoCopyright 2026 Mid-America Regional Information Systems. All rights reserved. Listings courtesy of Mid-America Regional Information Systems as distributed by MLS GRID <Last Updated October 24, 2026. Mid-America Regional Information Systems provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. Mid-America Regional Information Systems will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of Mid-America Regional Information Systems. MO_MARIS Member Broker: Danielle Little

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