St. Joseph Trio St. Joseph, MO

Access CA/ Doc Center

St. Joseph Trio

Address

627 North 25th Street
St Joseph, MO 64506

Investment Highlights

  • Highly Coveted Market Rate Conversion Play | Revenue Potential Unlocked!
  • In-Place, Proven Value-Add Opportunity Through Continued Systematic Interior Upgrades
  • Potential Other Income Generators 
  • Immediate Rent Upside of $240/Unit | Century Tower is Market Rate, San Regis & Fourth Street are in their Decontrol Periods
  • Strong Surrounding Demographic Profile
  • Offered Free and Clear of Existing Debt

In-Place, Proven Value-Add Opportunity Through Continued Systematic Interior Upgrades  

The portfolio demonstrates a proven value-add business model that can be continued property wide for the remaining 83 classic units that are primed for modernization. Cosmetic upgrades to kitchen cabinets, countertops, lighting packages, bathrooms, and new appliances will allow a buyer to push annual rental income by more than $206,215. 

Impressive Recent Financial Performance and Trending Revenues 

T6 Revenue (Oct ‘22-March ’23) is up 3.34% (+$34,000) over 2022 revenue, showcasing strong trending financials and providing evidence of the value-add model and ability to increase rental income as the property progresses through the decontrol period of the LIHTC Program.

Highly Coveted, Market Rate Conversion Play | Revenue Potential Unlocked!! 

Century Tower, San Regis, and Fourth Street Lofts were all previously in the Section 42 Low Income House Tax Credit (“LIHTC”) program. The initial 15-year Tax Credit Compliance Periods (“TCCP”) have ended. Ownership exercised the Qualified Contract option provided in the Land Use Restriction Agreement (LURA) to remove the long-term LIHTC restrictions, unlocking significant revenue potential. 

Century Tower is now fully market rate.

San Regis and Fourth Street Lofts are currently in their first year of the three-year market conversion / decontrol period, allowing for significant upside for a new owner. 

Over the normal course of business, and as affordable units turn over, a new owner can renovate and rent these units at current market rates (with NO rent or income restrictions!).

Amenities

  • Century Tower

    Unit Amenities: 

    In-Unit Washer/Dryer, Heating/Air Conditioning, Ceiling Fans, Security System, Tub/Shower, Handrails, Sprinkler System, Wheelchair Accessible (Rooms), Dishwasher, Disposal, Microwave, Range, Carpet, Tile & Vinyl Flooring, Office

  • Century Tower

    Site Amenities:

    Controlled Access, On-Site Property Manager, Curbside Trash Pickup, Online Services, Elevator, Fitness Center, Courtyard

  • Fourth Street Lofts

    Unit Amenities: 

    High-Speed Internet Access, In-Unit Washer & Dryer, Air Conditioning, Ceiling Fans, Wheelchair Accessible (Rooms), Dishwasher, Disposal, Microwave, Range, Window Coverings

  • Fourth Street Lofts

    Site Amenities:

    Courtyard

  • San Regis

    Unit Amenities: 

    High-Speed Internet Access, Washer/Dryer Hookup, Heating/Air Conditioning, Ceiling Fans, Dishwasher, Disposal, Microwave, Range, Carpet

  • San Regis

    Site Amenities:

    Laundry Facilities, 24-Hour Availability, Curbside Trash Pickup, Clubhouse, Multi-Use Room

Location Map

Team

Brokerage Team

When evaluating your options for a partner to assist with the sale of your multifamily asset, there are a number of factors you may consider. From experience and market knowledge to marketing prowess and ongoing support, each plays an integral role in creating a positive experience and a profitable outcome. Yet the one competency you may never have considered could be the one that matters most: the ability to move capital across markets efficiently and effectively. 


MMG possesses a unique combination of talent, resources, expertise, and access that delivers an elevated experience from acquisition to disposition. Discover the benefits of a partnership with us.


Harry Trotter

Senior Advisor
MMG REA
913.426.3617 harry.trotter@mmgrea.com

Matt Ledom

Senior Managing Director
MMG REA
913.620.6502 matt.ledom@mmgrea.com

Thomas Skevington

Senior Advisor
MMG REA
913.231.1086 thomas.skevington@mmgrea.com

TJ Wahl

Senior Advisor
MMG REA
816.508.7127 tj.wahl@mmgrea.com

Jake Sullivan

Associate Advisor
MMG REA
913.553.1733 jake.sullivan@mmgrea.com

Nathan Allison

Associate Advisor
MMG REA
816.284.9205 nathan.allison@mmgrea.com

Michael Sullivan

Executive Managing Director/Founding Partner
MMG REA
913.484.7923 michael.sullivan@mmgrea.com

Alex Blagojevich

Executive Managing Director/Founding Partner
MMG REA
773.899.0391 alex.blagojevich@mmgrea.com

Get In Touch

Address

MMG Real Estate Advisors

601 Westport Road

Kansas City, MO 64111