753-755 Lepere Ave, St Louis, MO 63132

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.