1123 Rhea Ave

2
Baths
864 Sq. Ft.
$1,561 / Sq. Ft.
864
Sq. Ft.
$1,561
per Sq. Ft.

Description

Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready,...Rare opportunity to acquire a 12-home single-family rental portfolio offered as one package in the St. Louis market. Located throughout Spanish Lake, Ferguson, and Unincorporated North St. Louis County, the properties are positioned within close proximity for efficient management and maintenance. The portfolio features a desirable unit mix of all 3- and 4-bedroom homes, creating strong tenant demand from both Section 8 voucher holders and market-rate renters. Professionally managed and largely renovated/rent-ready, the portfolio offers a strong mix of in-place income with immediate lease-up upside. Current gross rental income is approximately $11,519/month, with four vacant homes fully rent-ready and actively being leased. Seller anticipates at least two additional homes leased prior to closing, increasing in-place income to approximately $14,100/month. Fully stabilized pro-forma gross rental income is projected at approximately $16,700/month, with estimated annual operating expenses of approximately $53,000 and projected stabilized NOI of approximately $147,000/year. At the $1,350,000 asking price, the portfolio offers a projected stabilized cap rate approaching 10.9%. An excellent opportunity for investors seeking immediate scale, efficient scattered-site operations, dependable rental demand, and value-add upside through lease-up of rent-ready homes.
  1. Listed by Matt Guignon • Invest St. Louis
    P: (314)-707-8314 Matt@investstl.com
  2. Listed by Joey Schenck • Invest St. Louis
    P: (314)-221-1109 joey@investstl.com

Property Details for 1123 Rhea Avenue

Architectural Style
Ranch
LISTING UPDATED: 07/03/2026 11:01 AM

Property Details for 1123 Rhea Avenue

StatusActive
MLS #26041344
Days on Market1
Taxes$1,682 / year
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income / 5 Family or More
Year Built1959
Lot Size0.12 AC / 5,410 SF
CountySt. Louis County

Location

Listing Courtesy of Invest St. Louis
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Building Information for 1123 Rhea Avenue

Stories-Residences-Year Built1959Building Size-Lot Size0.12 AC / 5,410 SF

Payment Calculator

$6,862 per month

30 year fixed, 6.36% Interest

Principal and Interest

$6,722

Property Taxes

$140

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1123 Rhea Avenue

Summary
Location and General Information
  • City: Spanish Lake
  • County Or Parish: St. Louis
  • Directions: GPS
  • Latitude: 38.778635
  • Longitude: -90.204143
  • Postal Code: 63138
  • State Or Province: MO
  • Sub division Name: Larimore Hills
Taxes and HOA Information
  • List AOR: St. Louis Association of REALTORS
  • Parcel Number: 09E-34-0663
  • Tax Annual Amount: $1,682.00
  • Tax Year: 2025
  • AssociationYN: No
Owner
  • Township: Unincorporated
Parking
  • Carport: No
School Information
  • Elementary School: Larimore Elem.
  • High School: Hazelwood East High
  • High School District: Hazelwood
  • Middle Or Junior School: Southeast Middle
Property
Lot Information
  • Living Area: 864.0
  • Lot Size Acres: 0.1242
  • Lot Size Square Feet: 5410.15
  • Property Sub Type: 5 Family or More
  • Property Type: Residential Income
Property and Assessments
  • Above Grade Finished Area: 864.0
  • Above Grade Finished Area Source: Public Records
  • Documents Count: 0
  • Photos Count: 10
  • Year Built: 1959
  • Disclosures: None
  • Construction Materials: Vinyl Siding
  • NewConstructionYN: No
  • StructureType: House
  • LeaseConsideredYN: No
  • SeniorCommunityYN: No
  • NumberOfUnitsLeased: 10
Interior and Exterior Features
Exterior Features
  • NumberOfBuildings: 12
Interior Features
  • Bathrooms Full: 0
  • Bathrooms Half: 0
  • Bedrooms Total: 0
  • Cooling: Central Air
  • Fireplace: No
  • LivingAreaSource: Public Records
  • MIS_MainAndUpperLevelBedrooms: 0
  • MIS_MainAndUpperLevelBathrooms: 0
Multi Family
Unit 1
  • UnitType Beds Total: 3.0
Unit 2
  • UnitType Beds Total: 4.0

Property History for 1123 Rhea Avenue

DateEvent & SourcePriceAppreciation
Jul 3, 2026

Listed (Active)

MARIS #26041344

$1,349,000
Oct 16, 2025

Closed

MARIS #25048210

$100,000
Oct 16, 2025

Pending

MARIS #25048210

DateEvent & SourcePrice
07/03/2026

Listed (Active)

MARIS #26041344

$1,349,000
10/16/2025

Closed

MARIS #25048210

$100,000
10/16/2025

Pending

MARIS #25048210

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 1123 Rhea Avenue

Taxable ValueLand$2,680Additions$15,980Total$18,660
Tax Record2024$1,385 ($115 / month)
Home Facts
Beds3Baths1Total Finished SqFt864 SqFtAbove Grade Finished SqFt864 SqFtStories1Lot Size5,410 SqFtStyleSingle Family ResidenceYear Built1959ZoningR-4CountyST. LOUISAPN09E-3-4-066-3

Schools near 1123 Rhea Avenue

This home is within Hazelwood School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 6
Rating
School
Distance
Larimore Elementary School
PublicPK to 5

Southeast Middle School
Public6 to 8

Hazelwood East High School
Public9 to 12

Elem. Special Programs Dept.
PublicK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

1123 Rhea Avenue is a multi-family home for sale in Spanish Lake, MO 63138. This property was listed for sale on July 3, 2026 by Invest St. Louis, it's currently listed at $1,349,000. It has been on the market for a total of 1 days and was last sold on October 16, 2025. This listing's school district is Hazelwood School District. Nearby schools include Larimore Elementary School, Southeast Middle School and Hazelwood East High School. 1123 Rhea Avenue is a 7-bed, 2-bath, 864 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Invest St. Louis

Based on information submitted to the MLS GRID as of 07/03/2026 11:01 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.