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$369,900
Est. payment /mo
1,960 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 2-4 Units
Listing Status Active
Purchase Type For Sale
Square Footage 1,960 sqft
Price per Sqft $188
Subdivision Le Pere
MLS Listing ID 26063776
Style Traditional
Year Built 1957
Annual Tax Amount $3,750
Lot Size 6,250 Sqft
Acres 0.1435
Property Sub-Type 2-4 Units
Property Description
753–755 Lepere Avenue is a well-located two-family property in University City, bordering Olivette in the highly desirable 63132 market. The location provides convenient access to Clayton, Washington University, major employment centers, shopping, dining and the region's primary transportation corridors. Its combination of suburban convenience and proximity to central St. Louis makes the property attractive to both investors and owner-occupants.
Built in 1957, the one-story brick building contains approximately 1,960 square feet with two spacious two-bedroom residences of approximately 975 square feet each. Property features include central air, a full basement, private entrances, a shared backyard and a large deck. Select interior improvements include hardwood floors and a modern kitchen with stainless steel appliances, while additional updates to the less-improved areas provide a practical path to further value creation.
The property is fully occupied with current monthly rents of $1,450 and $1,350, producing $2,800 in monthly scheduled income. University City rental data indicate a median asking rent of approximately $1,600, while nearby two-bedroom offerings range from approximately $1,445 into the mid-$1,700s.
The property next door at 757 Lepere sold for $375,000 in 2024, with one unit more updated and one unit less updated than 753-755. Other recent University City two-family sales reached $382,000, $400,000, $410,000 and $466,000, with Lepere being in a superior location. These sales, together with the property's location and owner-occupant appeal, support a compelling opportunity to acquire a stabilized asset with additional rental upside.
Built in 1957, the one-story brick building contains approximately 1,960 square feet with two spacious two-bedroom residences of approximately 975 square feet each. Property features include central air, a full basement, private entrances, a shared backyard and a large deck. Select interior improvements include hardwood floors and a modern kitchen with stainless steel appliances, while additional updates to the less-improved areas provide a practical path to further value creation.
The property is fully occupied with current monthly rents of $1,450 and $1,350, producing $2,800 in monthly scheduled income. University City rental data indicate a median asking rent of approximately $1,600, while nearby two-bedroom offerings range from approximately $1,445 into the mid-$1,700s.
The property next door at 757 Lepere sold for $375,000 in 2024, with one unit more updated and one unit less updated than 753-755. Other recent University City two-family sales reached $382,000, $400,000, $410,000 and $466,000, with Lepere being in a superior location. These sales, together with the property's location and owner-occupant appeal, support a compelling opportunity to acquire a stabilized asset with additional rental upside.
Location
State MO
County St. Louis
Area 136 - University City
Interior
Cooling Ceiling Fan(s), Central Air, Electric
Fireplace N
Exterior
View Y/N No
Building
Structure Type Brick
Schools
Elementary Schools Flynn Park Elem.
Middle Schools Brittany Woods
High Schools University City Sr. High
School District University City
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Standard
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Listed by Rick Onstott • Botanical Property Management
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