Investment Highlights
RECENTLY STABILIZED, LENDER-OWNED ASSET
The Shelby is an 88-unit, lender-owned community that has been recently stabilized by a third-party management company to 94% occupancy, offering investors a clean operational handoff with minimal lease-up risk.
ESTABLISHED IN-PLACE INCOME WITH LEASE-UP UPSIDE
The Shelby offers an existing revenue base and a defined opportunity to increase income through targeted leasing, marketing, resident-retention, and operational initiatives. The remaining availability provides a clear path to enhanced occupancy and cash flow without requiring a full-scale lease up.
VALUE-ADD & OPERATIONAL UPSIDE
As a lender-owned asset that has focused primarily on stabilization, The Shelby offers meaningful upside through continued professional revenue management, expense rationalization, and targeted interior and amenity enhancements to push rents and ancillary income.
ATTRACTIVE BASIS VS. REPLACEMENT COST
Given today’s elevated construction and financing costs, The Shelby offers the opportunity to acquire a well-located, recently stabilized asset at a basis meaningfully below current replacement cost in Downtown St. Louis. As downtown continues its gradual revitalization – driven by public/private investment, residential conversions, and ongoing amenity growth – The Shelby is poised to benefit from improving fundamentals and long-term appreciation.
URBAN LOCATION WITH IMPROVING FUNDAMENTALS
Situated in the heart of Downtown St. Louis, The Shelby benefits from proximity to major employment centers, entertainment venues, and transit options. As downtown performance gradually improves and new multifamily deliveries remain limited, the property is well positioned to maintain strong occupancy and capture future rent growth.
UNIT MIX
PROPERTY SUMMARY
Location
Building Specifics
Construction
Amenities
Community Amenities
- Historic Converted Building in the Heart of Downtown St. Louis Minutes from The Dome at America’s Center, Busch Stadium, and the Iconic Gateway Arch National Park
- Expansive Clubroom with Entertaining Kitchen and Coffee Bar, Media Lounge, Coworking Tables, and Billiards
- 24-Hour, Modern Fitness Center with Cardio and Weightlifting Equipment and Free Weights
- Community Conference Room
- Complimentary Wi-Fi
- Elevators
- On-Site Management and Maintenance
- Package Receiving
- Enclosed Garage Parking Across the Street
- Controlled Access
- Online Resident Portal
- Location Considered a Walker’s Paradise (Walk Score® 95 / 100)
- On the Metro Bus Line with Stops Near the Property
- Next to The DUC Park (A Pocketparks Project) and Across from Schnucks Grocery Store
- Within Walking Distance of Metro Train Stations, Stores, Restaurants, City Parks, Mississippi River, Trails, Washington Avenue Historic District, City Museum, Ballpark Village, Enterprise Center, and Old Post Office Plaza
- Convenient Access to Interstate 44 and 55 / 64, State Route 100, St. Louis Downtown Airport, and Saint Louis University
Unit Amenities
- Variety of Spacious Floor Plans Including Loft-Style Units and Contemporary Finishes
- Loft-Style Units Feature Original Brick Walls, Exposed Duct Work, Nine- to 12-Foot Airy Ceilings, Concrete Pillars, and Oversized Windows Allowing in Abundant Natural Light
- Beautifully Appointed with Stainless Steel Appliances, Tiled Kitchen Backsplash, Modern Cabinetry, Granite-Style Countertop with Undermount Sink, Wood-Style / Original Hardwood Floors, Plush Carpeting, Industrial-Look Lighting, and Mini Blinds
- Fully Equipped Kitchen with Electric Stove, Refrigerator, Dishwasher, Disposal, Microwave, Double Basin Sink, Breakfast Bar, Dining Area, and Plenty of Cabinet and Counter Space
- Full Size Bathroom with Tub and Shower Combination / Walk-In Shower and Large Vanity Mirror
- Walk-In / Large Closets
- In-Unit Washer and Dryer
- Select Units Feature Double Sink Vanity and Tile Flooring
- Furnished Units Available
- Central Air Conditioning / Heating and High-Speed Internet Access
The LOCATION
Photo Gallery
Contact Us
St. Louis Office
120 S. Central Avenue
Suite 1200
St Louis, MO 63105
Investment Sales
Andrea Kendrick
Managing Director
314.984.5591
[email protected]
Ken Aston
Managing Director
314.984.5590
[email protected]
Financing
Kevin Kozminske
Senior Managing Director
314.984.5514
[email protected]
Pat Garlich
Director
314.984.5536
[email protected]
Cortney Mauldin
Managing Director
314.322.3463
[email protected]
917 LOCUST ST | ST LOUIS, MO 63101
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