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Street View
$1,999,000
Monthly Est:$9,950
-- Bed
-- Bath
15,800sqft
8404 Halls Fry Rd, Saint Louis, MO 63147
$1,999,000
$9,950/moEst:
Get Pre-Approved
Multi Family
Built in 1964
$-- HOA
1.32 acres lot
$127/sq.ft
Description
Sandalwood Apartments is a 41-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 41 units leased – 97.6% 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 10.95% in-place cap rate on a stabilized net operating income of $218,952.40 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.
*Seller Financing NOT available*
- Houzeo last checked: 5 hours ago
- Listing updated: October 19, 2026 at 6:49 pm
- Listing Provided by: Ben Cherry (314) 647-661111 | Manor Real Estate (314) 647-6611
- Source: MARIS MLS-MO | MLS#: MIS26052146
Property Details
Status
Active
Type
Multi Family
No. of Stories
-
County
City
Neighborhood
--
Year Built
1964
HOA Fees
-
Finished Area
15,800 sqft
Lot Size
1.32 acres lot
Basement Area
- sqft
MLS Name
MARIS MLS
MLS Number
MIS26052146
MLS Status
Active
Days on Market
77
Cumulative Days on Market
46
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedroom: --
Bathroom: --
Interior
Cooling
Other
Construction
Year Built
Year Built: 1964
Home type
Multi Family
Architectural Style
Other
Construction Materials
Brick
Utilities & Energy
Electric
Other
Other Features
Disclosures
No Other Known Restrictions
Subdivision Name
City/st Louis
Price History
| Date | Event | Price |
|---|---|---|
08/13/2026 Source: | Listing Removed | $1,999,000 $127/sqft |
08/13/2026 Source: | Listed for Sale | $1,999,000 $127/sqft |
08/13/2026 Source: | Pending | $1,999,000 $127/sqft |
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