Overseas buyer looking at STL property (St. Louis: apartment, renters, neighborhoods)

[hkgal]

My husband and I are considering buying a rental property in St Louis. Our main reason for this is he is originally from STL (but has not lived there for about 10+ years) and has family there, plus it is much cheaper than other options we were considering.

We are pretty specific about what we want and think we have a good idea of the area to buy in. We've chosen to look at Central west end because of walkability and proximity to universities and hospitals and the fact it seems to have a village-y feel to it. Plus, we like the old historic places and think it adds value to the area. We are looking at a 2bd 2bath apartment because we think its probably what renters in the area would most likely be after (i.e. singles and couples). We've done research and found out the prices which are well within our budget and rental returns quite decent.

My questions relate more to 'on the ground' stuff - how the area is developing and general reputation, since we don't live there and haven't visited since 2005 - how do people generally feel about it - is it quite a desirable area for young professionals? Is it improving i.e. more shops and amenities opening up? Any new developments on the cards? Better public transport links? Which are the best streets to be looking at? I have a vague recollection that south of delmar blvd was best. Anything else we should be aware of when looking in this area? Any info is appreciated. Thanks.

[aragx6]

I wouldn't call the heart of Central West End developing, rather developed, but you'll find that the outskirts of the neighborhood have been steadily improving over the last few years, especially the area north of Forest Park (but still south of Delmar) and the area east of the neighborhood as you get closer to SLU.

The metro stop at Barnes is easily accessible from the neighborhood and buses are pretty easy to come by as well. You can check all of that out on Metro's Web site: Metro

All in all if you think you can cash flow on it, I think it's a pretty good call. it's still, even after all the new neighborhoods in St. Louis that are now considered cool, the place for the young crowd. I suspect you'd have no problem keeping it rented.

[gypsyj]

Check out the FPSE neighborhood. Walk to the BJC complex. Steadily improving. Bedroom community with an up and coming Entertainment district much like the CWE. CWE and FPSE are next door neighbors on the south.