Forest Park Oasis — Turnkey 4BR Short-Term Rental Near Forest Park
Asking Price$300,000
Configuration4BR/1.5BA
Current$31,500 – $32,000Gross rental revenue, CY2025 actual plus CY2026 annualized pace, before management fees
ActiveJZ Owned & Managed
4632-4700 McPherson Ave, St. Louis, MO 63108
Historic Triplex in Central West End — Turnkey STR Investment
Historic Triplex in Central West End — Turnkey STR Investment is a turnkey 3-unit vacation rental investment in St. Louis (Central West End), offered with professional management already in place. The property is offered at $1,500,000.
Revenue Snapshot
Current$110,000 – $117,000Combined gross rental revenue across all 3 units — Historic Haven, Hidden Gem, and West End Whimsy — CY2025 actual plus trailing-12-month, before management fees, all 3 units operating as short-term rentals
Projected — After Upgrades$150,000 – $177,000Projected combined gross rental revenue after the planned bedroom expansion, before management fees
The current range reflects verified historical revenue from JZ's reservation and accounting systems, with all three units operating as short-term rentals. The projected range is a forward-looking estimate tied to the improvement plan described below — not a forecast, appraisal, or guarantee of future performance. Bedroom count and square footage for the expansion are plan-level estimates and have not been field-verified. Consult your own tax and financial advisors before relying on any figure in a purchase decision.
Property Facts
| Address | 4632-4700 McPherson Ave, St. Louis, MO 63108 |
|---|---|
| Neighborhood | Central West End |
| Units |
|
| Square Footage | 6,180 sq ft |
| Asking Price | $1,500,000 |
See These Units Operating Live
Every unit already runs as a live, professionally managed short-term rental — see exactly how it presents to guests today.
About This Property
The property at 4632–4700 McPherson Ave is a three-unit short-term-rental property across two restored buildings in St. Louis's Central West End. JZ Properties fully renovated the property, and JZ Vacation Rentals has professionally managed its three units for two years.
The units are Historic Haven, with 3 bedrooms and 2.5 bathrooms; Hidden Gem, with 1 bedroom and 1 bathroom; and West End Whimsy, with 2 bedrooms and 2 bathrooms. The front building retains original crown moldings, hardwood floors, tall windows, and a classic St. Louis brick facade. The rear building includes the two-bedroom unit and its private garage.
Furnishings, active listings, and the property's operating history transfer with the sale. The property is near Barnes-Jewish Hospital, the Washington University Medical Campus, Forest Park, and the Cathedral Basilica of St. Louis. The McPherson wedding and event venue is located on the same block.
Each sale includes an initial one- to two-year management term with JZ Vacation Rentals at a discounted management fee. The exact term, fee, and transition details are set in the property-specific management agreement.
Seller currently proposes a $50,000 post-closing construction allowance for the expansion. Scope, timing, disbursement controls, permits, and responsibility must be documented in the purchase agreement.
A property-specific revenue projection for the proposed expansion is available during diligence, together with its assumptions. It is an estimate, not a guarantee.
The proposed expansion is intended to add usable space and income potential. Buyers should independently evaluate scope, cost, permitting, value, and revenue assumptions.
Supporting operating records and any projection assumptions are available during diligence.
Local Demand
Steps from The McPherson, a landmark wedding venue
The McPherson, a wedding and event venue in the historic Berger Chapel, is located on the same block at 4715 McPherson Ave.
See The McPherson's venue siteInvestment Highlights
- Three short-term-rental units across two restored buildings
- Historic Haven: 3 bedrooms and 2.5 bathrooms
- Hidden Gem: 1 bedroom and 1 bathroom
- West End Whimsy: 2 bedrooms, 2 bathrooms, and a private garage
- Fully renovated by JZ Properties and professionally managed by JZ Vacation Rentals for two years
- Original architectural details include crown moldings, hardwood floors, tall windows, and classic St. Louis brick
- Furnishings, active listings, and operating history transfer with the sale
- Near Barnes-Jewish Hospital, the Washington University Medical Campus, Forest Park, and the Cathedral Basilica of St. Louis
- The McPherson wedding and event venue is located on the same block
- Initial one- to two-year management term with JZ Vacation Rentals at a discounted management fee; exact terms are documented separately
- Seller currently proposes a $50,000 post-closing construction allowance for the expansion. Scope, timing, disbursement controls, permits, and responsibility must be documented in the purchase agreement.
- A property-specific revenue projection for the proposed expansion is available during diligence, together with its assumptions. It is an estimate, not a guarantee.
- The proposed expansion is intended to add usable space and income potential. Buyers should independently evaluate scope, cost, permitting, value, and revenue assumptions.
- Supporting operating records and any projection assumptions are available during diligence
Historical results and projections are identified separately. Supporting records and model assumptions are available during diligence. Neither historical results nor projections guarantee future performance. Use the inquiry form below to request the supporting diligence package, or model your own assumptionsin the investment calculator.
Upgrade Opportunity
Add 2 Bedrooms, Add Revenue — Historic Haven Expansion Plan
The improvement plan converts Historic Haven from its current 3-bedroom configuration to 5 bedrooms, adding roughly 300 square feet to the unit. It's a simple, transparent value-add: a defined scope of work with a clear before-and-after, built for a buyer who wants the upside without guessing at what it takes to get there. JZ proposes the plan and manages the work end to end, and the new owner has a say in the final scope before work begins — the goal is a property at its freshest on day one of ownership.
Historic Haven, Hidden Gem, and West End Whimsy generated a combined $110,000–$117,000 in verified gross rental revenue in the current range. The bedroom addition is projected to add another $40,000–$60,000 in gross revenue once complete, bringing the combined range to $150,000–$177,000 — on top of the added value per square foot the expansion itself creates.
The $75,000–$100,000 improvement estimate and the roughly 300-square-foot addition are plan-level figures — not yet field-verified against a contractor scope or permit set. Buyers should confirm feasibility, permitting, and final cost with their own contractor and advisors before relying on them.
Questions About Historic Triplex in Central West End — Turnkey STR Investment
FAQ
Are there tax benefits to buying a multi-unit short-term rental like McPherson?
Multi-unit STR purchases can offer real tax advantages — cost segregation studies and bonus depreciation are commonly used by investors to accelerate depreciation on qualifying building components, and active short-term-rental operators may qualify for material-participation treatment under IRS rules that can allow rental losses to offset other income. Whether any of this applies depends on your specific tax situation, entity structure, and how you operate the property — consult your own CPA or tax advisor to confirm what applies to you.
What is cost segregation, and does it apply to a property like this?
Cost segregation is a tax strategy that breaks a building's cost basis into components — flooring, fixtures, land improvements — that depreciate faster than the building itself, often over 5, 7, or 15 years instead of 27.5 or 39. Multi-unit properties with a mix of finishes and planned capital improvements, like McPherson's expansion, are commonly good candidates for a cost segregation study. Whether it makes sense for your purchase depends on your basis, holding period, and tax profile — a qualified cost segregation firm or your CPA can run the numbers.
Does the short-term-rental "tax loophole" (material participation) apply here?
The STR "loophole" refers to IRS rules where an owner who materially participates in operating a short-term rental — average guest stay under 7 days, active involvement in management — may be able to treat rental losses as non-passive, meaning they can offset W-2 or other active income instead of being limited to offsetting passive income. McPherson's three units, each operating with short-term-rental-length stays, are the kind of property this rule is often discussed around. Material participation is a facts-and-circumstances test with specific IRS hour and involvement thresholds. This isn't tax advice — confirm your eligibility with your own tax advisor before relying on it.
Does McPherson qualify for historic-rehabilitation tax credits?
McPherson Ave sits in St. Louis's Central West End, which became a local historic district in 1974 (City of St. Louis Cultural Resources Office). JZ has not independently verified whether this specific parcel also carries a National Register listing or Missouri SHPO certification — the credential that federal (20%) and Missouri state historic rehabilitation tax credits actually require, and which is a separate, higher bar than local-district status. This property may qualify — confirm designation and eligibility with the City of St. Louis Cultural Resources Office, the Missouri State Historic Preservation Office, and your own tax advisor before assuming any credit applies to your renovation budget.
This is a private sale. Buyer and seller transact directly, with no third-party sales representative involved. The ownership entity that holds title to this property is the seller of record. JZ Vacation Rentals and its principals are not licensed real estate brokers or agents, represent no party to this transaction, and receive no sales commission — JZ Vacation Rentals serves only as property manager and is not a party to the sale. Listing information is provided for convenience and is not an offer to sell.
Available now
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