8404 Halls Ferry Road, Saint Louis, MO 63147
Local realty services provided by:CENTURY 21 Premiere Realty
8404 Halls Ferry Road,St Louis, MO 63147
$1,999,000
- - Beds
- - Baths
- 15,800 sq. ft.
- Multi-family
- Active
Listed by: benjamin r cherry
Office: manor real estate
MLS#:26052146
Source:MO_MARIS
Price summary
- Price:$1,999,000
- Price per sq. ft.:$126.52
About this home
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....
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Home facts
- Year built:1964
- Subdivision & Development:City/St Louis
- Listing ID #:26052146
- Added:1 day(s) ago
- Updated:August 13, 2026 at 04:33 PM
Rooms and interior
- Living area:15,800 sq. ft.
Structure and exterior
- Year built:1964
- Building area:15,800 sq. ft.
- Lot area:1.32 Acres
- Construction Materials:Brick
Schools
- High school:Beaumont Cte High School
- Middle school:Fanning Middle Community Ed.
- Elementary school:Earl Nance Sr. Elem.
Finances and disclosures
- Price:$1,999,000
- Price per sq. ft.:$126.52
- Tax amount:$8,755 (2025)
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