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Construction progresses at 4200 Arsenal 4-family

If you frequent the area around Tower Grove Park  in the Tower Grove South Neighborhood of St. Louis, there is a good chance you have seen this property. With its prominent location at the SW corner of Arsenal and Bent, facing Tower Grove Park, its hard to miss. Especially since it was boarded up begging to be rehabbed for almost ten years. As the neighborhood has improved, this property became one of the biggest eyesores in an otherwise excellent area. Thankfully, that is in the process of changing.The property changed hands in May 2010 and new owner and developer, Rainier LLC, is currently in the middle of rehabbing the property. The 4,200 square foot building will be made into four 2-bed, 1 bath apartments when complete. Exterior work is nearing completion with the new windows, tuck-pointing, paint and doors all in place. The interior still has quite a ways to go, but the exterior improvements have already made the curb appeal leaps-and-bounds over where it was before.

I represented Rainier on this closing and have had the chance to see the inside the transformation process first hand. Although the outside was clearly in need of work, the state of the interior was even worse. It is totally uninhabitable. The amount of work needed is quite significant, but with a few tweaks in the layout, new systems and a lot of plaster-patch and drywall, the place will really look great. Hopefully be back with a look at the interior in the early fall. In the meantime, you can see before and after pictures of the exterior in the gallery below.

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Matt Kastner

Matt Kastner is an Investment Real Estate Consultant at St. Louis Real Estate Society in St. Louis, Missouri. He is also develops properties on the side through Threshold Properties. When he isn’t representing investors in the purchase or sale of multifamily properties, rehabs, foreclosures and other income producing properties, he is often taking on rehab projects himself. He lives in South St. Louis and has been in the real estate business since 2004.

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2 thoughts on “Construction progresses at 4200 Arsenal 4-family”

  • Brian S.

    August 24, 2010 at 8:15 am

    They did a great job. I wanted to buy that building about ten years ago, but it needed way too much work for me to handle it on my own.

    Reply
    • Matt Kastner

      August 24, 2010 at 10:15 am

      And it only got worse over those ten years. The inside such a mess and the outside, well you saw how that degraded. I really like the window well in the building though. Something you don’t often see in a four family. Should make for a more unique finished product.

      Reply

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