6114 Waterman Boulevard

About This Property

6114 Waterman Blvd offers investors or owner occupants the opportunity to acquire a large, well-located two-family asset in one of St. Louis’ strongest rental corridors. Located on one of Skinker-DeBaliviere’s premier streets, just blocks from Washington University and the Delmar Loop, the property is ideally positioned for student renters, roommate groups, graduate students, and professionals seeking proximity to Wash U, and Forest Park. The building contains 2,884 square feet, with each unit offering a spacious three bedroom, one-bath layout. The property is currently vacant, giving a new owner immediate control over the leasing strategy. A buyer can lease both units at market rent, occupy one unit while renting the other, or make additional improvements to further increase rental income over time. The most recent rental history demonstrates strong tenant demand. The units were previously furnished and leased for $3,000 per month and $2,695 per month. If both units were leased at $3,000 per month, the property would generate $72,000 in annual gross rent. The units feature a blend of original character and practical updates, including hardwood floors, large bedrooms, built-in bookshelves and cabinetry, original fireplaces, bay windows, and kitchens that open to rear screened-in porches. Additional features include a private fenced backyard with patio area, updated plumbing, HVAC, and electric systems, and ample basement storage. Both apartments were also recently painted, allowing a new owner to move quickly toward leasing or occupancy. Additional rent upside supported by nearby two-family properties on the same block achieving $4,500/month per unit for more updated units. This property also offers strong projected income for a student occupying the property while generating income and equity at the same time.

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