1601 North 36th Street
- Institutional‐Scale Footprint – 280 units under one
- roofline support fully staffed, cost‐efficient operations
- and attract larger capital.
- Diversified, Demand‐Driven Floorplans – Balanced mix of
- 1‐, 2‐, and 3‐bedroom layouts appeals to singles, families,
- and roommates alike.
- Expansive Interior Square Footage – Larger‐than‐market
- unit sizes deliver livability that commands premium rents
- post‐renovation.
- Single, Contiguous Parcel – One legal lot simplifies
- management, financing, and future exit strategies.
- High‐Impact Value‐Add Canvas – 103 offline units and
- deferred‐maintenance upside position investors for
- outsized NOI growth.
Property Description
Acquire a rare, scale‐advantaged value‐add asset: a 280‐unit garden community in St. Joseph, Missouri, just 45 minutes north of Kansas City. Today, 103 +/- units are offline —creating deep, controllable upside for a well‐capitalized buyer willing to invest $3 MM+ in renovations. St. Joseph’s fundamentals strengthen the play: rents average ≈30 % below the national level while 40 % of households rent, giving ample runway to grow income without sacrificing affordability. A diverse employer base—Mosaic Life Care, Triumph Foods, Boehringer Ingelheim, Tyson Foods, and the Missouri Air National Guard—anchors demand and supports lease‐up. A clear path to transform a distressed asset into a stabilized, cash‐flowing property with meaningful exit optionality— whether refinancing for hold or selling into strong Midwest demand for 200‐plus‐unit communities. St. Joseph’s wide affordability gap, large renter cohort, and diverse job base combine with this property’s concentrated scale to create a rare Midwest value‐add play: buy distressed, inject capital, lease‐up, and own a 280‐unit community at an incredible basis.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,500,000 |
| No. of Units: | 280 |
| Year Built: | 1960 |
| Lot Size: | 7.30 Acres |
| Opportunity Zone: | No |
| Price per unit: | $5,357 |
| Property Website | Click Here |
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