2901 Frederick Ave — Sale in Saint Joseph, MO

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Saint Joseph, MO 64506

Photos

2901 Frederick Ave — Sale in Saint Joseph, MO, photo 1 of 2
2901 Frederick Ave — Sale in Saint Joseph, MO, photo 2 of 2

Investment Figures

Cap rate
7.78%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The St. Joseph Portfolio presents the opportunity to acquire a 179-unit multifamily portfolio consisting of three strategically located communities throughout St. Joseph, Missouri. The portfolio includes City View Lofts (60 units), Summit Place (23 units), and Frederick Avenue Apartments (96 units), offering a diversified mix of studio, one-bedroom, two-bedroom, and three-bedroom floor plans that appeal to a broad workforce tenant base. The assets currently maintain approximately 97 percent physical occupancy and have benefited from nearly $700,000 of capital improvements completed since 2023. The investment offers an attractive combination of stable cash flow, below-replacement-cost pricing, and meaningful value-add potential through continued operational improvements. Current ownership has made substantial progress addressing deferred maintenance and improving property operations, creating an opportunity for a new investor to capitalize on collection improvements, rent optimization, and expense efficiencies. In addition, buyers may have the opportunity to assume approximately $8.41 million of existing financing at a 5.48 percent fixed interest rate with interest-only payments through May 2028, creating a compelling financing advantage in today's lending environment Investment Highlights: • Attractive Assumable Financing: $8.41 Million Existing Loan Balance 5.48 Percent Fixed Interest Rate Interest-Only Through May 2028 Maturity May 2033 $2.8 Million Equity Requirement • Zero Multifamily Permits Issued in Trailing 24 Months — No New Competitive Supply Entering the Market • Cash-flowing, Operationally Stabilized Portfolio with Meaningful Value-Add Upside Through Bad Debt Normalization, Payroll Optimization, and Renovation.

Market Context

This multifamily in Saint Joseph, MO is listed for sale. It is offered at an approximate 7.8% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Saint Joseph, MO — view the full market.

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