1913 East 44th Street
Property Description
TRUE CLASS A+ NEW CONSTRUCTION WITH BEST-IN-CLASS AMENITIES Crescent Falls offers a new investor the opportunity to acquire a truly best-in-class asset that was delivered in 2024. With a full suite of luxury resident amenities including a large resort-style heated saltwater pool and spa, pickleball courts, fitness center, dog park, tenant bodega, game room, pool table, EV charging stations, and private garage spaces, the community offers residents a lifestyle that is unmatched in the Joplin market. HIGH OCCUPANCY & STRONG IN-PLACE OPERATIONS The community has been successfully leased up and stabilized by the original developer, operating in the high-90% occupancy range consistently with limited concessions that have almost fully burned off. These strong in-place operations will allow new ownership to step into strong day-one cash flow with long-term stability. UPSIDE VIA LOSS-TO-LEASE CAPTURE & STREAMLINING OF OPERATIONS The community is being sold by the original local developer that self-manages the asset. There is immediate day-one NOI upside via the capture of existing loss-to-lease (current approx. 4%) and the streamlining of property-level operations. LIMITED SUPPLY & COMPETITION IN THE JOPLIN SUBMARKET With zero new Class-A supply in the pipeline, extremely limited competition in the submarket today, and the extremely strong in-place operations, new ownership is set up for both immediate and long-term success at Crescent Falls. The combination of limited supply and competition and growing population will result in outsized rent growth in the future, allowing new ownership to continue to grow revenue and achieve outsized returns. FANTASTIC LOCATION CLOSE TO MAJOR RETAIL & INTERSTATE CONNECTIVITY Located just off the major retail corridor on Rangeline Rd and just south of I-44, Crescent Falls is uniquely positioned in the Joplin market to allow tenants easy access to the entire city and the best shopping and dining experiences within minutes of their home. OFFERED FREE & CLEAR OF EXISTING DEBT Crescent Falls is being sold free & clear of existing debt, offering new ownership the ability to take advantage of aggressive debt options available in the marketplace today. Please contact our Debt & Structured Finance team for up-to-date debt quotes and to discuss all financing options available for Crescent Falls.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 151 |
| Year Built: | 2024 |
| Lot Size: | 7.95 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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