- For Sale $3,700,000
- Property Type Multi-Family
- Property Size 77,127 SF
- Units 75
- Lot Size 2.09 Acre
- Property Tenancy Multi-Tenant
- Year Built 1909
- Year Renovated 2006
- Date Updated Sep 2, 2026
Description
Situated in Downtown West, one of St. Louis's most dynamic and rapidly developing submarkets, the Franklin School Apartments sit at the heart of a neighborhood defined by handsome brick architecture, historic character, and a wave of modern reinvestment. Downtown West draws a diverse mix of young professionals, families, and creatives, fueled by affordable living, walkability, and immediate proximity to the economic engine of downtown.
The property is in close proximity to many large scale projects and landmarks. The new NGA West headquarters, the $1.75 billion National Geospatial-Intelligence Agency campus at Jefferson and Cass Avenues — less than one mile away and the largest federal investment in St. Louis history, bringing approximately 3,150 employees to the immediate area. Just over a mile south, Energizer Park — the 22,423-seat, $457.8 million home of MLS's St. Louis City SC — anchors the largest urban professional sports campus in the country and has helped draw nearly $820 million of investment into Downtown West since 2019. Additional major employers including BJC HealthCare, Washington University, SSM Health, Wells Fargo, and Saint Louis University ensure deep, diversified demand within minutes of the front door.
Residents enjoy outstanding connectivity, with I-70 and I-64 accessible within minutes and Tucker Boulevard and Broadway providing efficient local circulation. The Gateway Arch National Park, Forest Park, Citygarden, and the forthcoming Brickline Greenway offer world-class green space, while the Washington Avenue corridor, Ballpark Village, City Foundry STL, and Union Station deliver dining, entertainment, and retail — reinforcing downtown's ranking among the nation's most walkable urban cores.
The location's trajectory is decisively upward, backed by an unprecedented wave of capital committed to Downtown St. Louis, including the $670 million Millennium Hotel redevelopment, a planned Ballpark Village Phase III expansion, the $256 million America's Center expansion, and a $55 million Rams settlement infusion into downtown infrastructure. State legislation including HB 3231 and the Missouri Downtown Economic Stimulus Act (MODESA) further unlocks hundreds of millions toward converting major downtown vacancies — including the Railway Exchange Building and the AT&T Tower — into new residential product, offering investors a compelling growth narrative anchored by durable public and private investment surrounding the property.
Highlights
- $232/month rent upside with ability to execute business plan immediately
- $49,333/unit entry basis incredible basis for a building of this quality
- $618/mo avg rents. Conservative $895/mo market rent - many area 1 bed rents start at $1,000/mo.
- 2006 full gut redevelopment plumbing, electrical, windows, and more - all systems already modernized
- 66.7% occupancy, predominantly month-to-month leases flexibility from day one
- Close proximity to the $1.7 billion NGA West campus and $457 million new MLS Stadium
- Entire City Block - Additional lots add further parking or amenity offerings
- Outstanding value add opportunity at a remarkable basis
- State & Fed Historic Tax Credit eligibility potentially offsets renovation capital
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Contacts
Garen Lafser
Salient Realty Group
Location
Located at 814 N 19th St, Saint Louis, MO 63106, this property is part of the Downtown West Saint Louis neighborhood and St Louis market.
Contact Listing Broker
Garen Lafser
Salient Realty Group