NEWBIE: St. Louis Multi-Family Investing

NEWBIE: St. Louis Multi-Family Investing

Member since 2020 · 3 posts · 1 vote

Hi everyone,

I'm an aspiring multi-family rental property owner living in St. Louis looking to get into the rental property investing scene. I'm currently in the process of reading as much as I can through books about investing (particularly house hacking which I'm most interested in). My biggest concern is the market itself (I'm from Florida) and where (if any) locations exist that have the potential for appreciation and cash flow. I don't want to live in a particularly sketchy area as someone who will be a tenant but I also don't want to sacrifice all appreciation potential just to live in a capped potential neighborhood. I'm looking for the next growing area in STL  - the Grove seems too expensive, Shaw seems like its on the tail end of its boom, anyone know anything about DeBaliviere Place (I know WASHU had a redevelopment program in place for this area and some other areas around delmar) or other areas with potential? Or should I just go with the safer steady high occupancy areas around TG Park? 

Any guidance is greatly appreciated!!

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Rental Property Investor · Saint Louis, MO · Member since 2014 · 313 posts · 326 votes
6y

63109 is a steady, relatively safe area that's adjacent to some of the hotter growth areas and is finally seeing some positive pressure in catching up appreciation to Tower Grove, Shaw, etc. Southampton closer to Macklind has been a desirable area for a while although it's a tad more expensive, especially closer to Francis Park. Christy Park is a decent area with positive pressure being between Francis Park and Holly Hills. Bevo is thought of as about to come-up from time to time, but it never really seems to take off. There are some pockets either side of South Grand, but it's more block to block outside of TG South/southeast. I've seen some people mention having success on South Broadway but I haven't spent much time on the ground down that way and it is sketchy-adjacent in places.

Hope that helps spark some ideas!

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  • Investor · Ogden, UT · Member since 2018 · 295 posts · 208 votes
    6y

    @Mitch McCray location is important but don't let it give you analysis paralysis. If you find a good area, don't be afraid to jump. Especially if you are house hacking because just by reducing your housing expense you will make a big impact on your finances. You want to buy based on cash flow in an area likely to appreciate, but don't buy based on appreciation because its far from guaranteed. 

  • Rental Property Investor · Saint Louis, MO · Member since 2014 · 313 posts · 326 votes
    6y

    63109 is a steady, relatively safe area that's adjacent to some of the hotter growth areas and is finally seeing some positive pressure in catching up appreciation to Tower Grove, Shaw, etc. Southampton closer to Macklind has been a desirable area for a while although it's a tad more expensive, especially closer to Francis Park. Christy Park is a decent area with positive pressure being between Francis Park and Holly Hills. Bevo is thought of as about to come-up from time to time, but it never really seems to take off. There are some pockets either side of South Grand, but it's more block to block outside of TG South/southeast. I've seen some people mention having success on South Broadway but I haven't spent much time on the ground down that way and it is sketchy-adjacent in places.

    Hope that helps spark some ideas!

  • St. Louis · Member since 2020 · 11 posts · 6 votes
    6y

    Tower Grove East has a decent amount of homes under rehab and Fox Park as well. Tiffany and The Gate district are between SLU hospital and Lafayette Square. SLU is investing in those two neighborhoods with new construction and there's been additional rehabs as well. I live in Shaw and ideally I would buy in Botanical Heights. It's between the Grove and Shaw and there's a City project in the works to redesign Tower Grove Avenue between the park and Cortex/the Grove

  • Rental Property Investor · St. Louis, MO · Member since 2020 · 9 posts · 2 votes
    6y

    @Grace Hartman

    What are your guys' thoughts on the Dutchtown area? Had a few leads on a couple four families but don't know much about that area. They'd be 1bed/1bath units and both require some partial rehab (a few have been updated and few haven't). Wasn't sure what the ARV would potentially be and what kind of rental rates to expect there. Just kind of diving in to look into things. Thanks!

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