Property Description

Smile Lofts and the adjacent Soulard Firehouse at 900-912 Allen Ave offer a rare opportunity to own a fully occupied, character-rich multifamily property in the heart of Soulard. The offering consists of 23 total units across two historic buildings, along with 23 gated off-street parking spaces. The property is currently 100% occupied and generates $41,792 per month in in-place income, with additional upside remaining through future rent increases and unit reconfigurations.The main building, Smile Lofts, was originally home to the Orange Smile Syrup Company from the 1920s through the 1960s and was later converted into dramatic loft apartments that retain their original industrial charm. Five of the units are massive 4-bedroom, 2-bath lofts with approximately 30-foot ceilings and rents exceeding $2,700 per month. Three additional oversized units are currently configured as 2-bedroom, 2-bath layouts but are similar in size to the 4-bedroom units and offer the ability to add two additional bedrooms in each. The remaining units in the building are large 1-bedroom and 2-bedroom lofts with open layouts and unique architectural character.The adjacent Soulard Firehouse adds five additional residential units and historic charm, creating a well-balanced, two-building asset with strong tenant appeal. The property's one-to-one gated parking ratio is a major advantage in Soulard, where off-street parking is limited and highly desirable.Soulard is one of St. Louis' most vibrant and walkable neighborhoods, known for hosting the second-largest Mardi Gras celebration in the United States. From the property, tenants can walk to more than three dozen bars, restaurants, and coffee shops, as well as the historic Soulard Farmers Market just a few blocks away, which is open year-round and offers fresh groceries from local farmers and vendors every Saturday. Many nearby bars also provide free shuttle service to St. Louis Blues games, St. Louis Cardinals games, STL City SC matches, and concerts and events downtown, further enhancing the lifestyle appeal for residents.The property is fully occupied, with common areas available for viewing. Occupied units may only be shown with an accepted offer or letter of intent. Please do not disturb tenants.

Property Features

Local Schools