179-Unit Multifamily
New
For Sale
$11,225,000
2901 Frederick Ave, Saint Joseph, MO 64506
Three St. Joseph communities offer studio through three-bedroom floor plans for a broad workforce tenant base.
Property SizeContact for details
Days on Market4
Property Features for 2901 Frederick Ave
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
97%
Additional Details
Cap Rate
7.78%
Multifamily Units
179
Amenities
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.
Building Details
Units
179
Listing Agency:
Marcus & Millichap | St. Louis
(630) 570-2233
Listed By:
Sam McCarthy · License #License(s): IL: 475.176464
(630) 570-2233
Source:
Marcusmillichap
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 24 at 3:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | St. Louis
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises 179 units across three St. Joseph communities: City View Lofts with 60 units, Summit Place with 23 units, and Frederick Avenue Apartments with 96 units. The properties include studio, one-bedroom, two-bedroom, and three-bedroom layouts, providing a range of residential configurations within the portfolio.
Physical occupancy is approximately 97 percent. The communities have received capital improvements since 2023, while ownership has also addressed deferred maintenance and advanced property operations. The portfolio is located in St. Joseph, Missouri, with the Frederick Avenue Apartments address at 2901 Frederick Ave.
Physical occupancy is approximately 97 percent. The communities have received capital improvements since 2023, while ownership has also addressed deferred maintenance and advanced property operations. The portfolio is located in St. Joseph, Missouri, with the Frederick Avenue Apartments address at 2901 Frederick Ave.
Key Highlights
- 179 units across three multifamily communities in St. Joseph, Missouri
- City View Lofts: 60 units; Summit Place: 23 units; Frederick Avenue Apartments: 96 units
- Studio, one‑bedroom, two‑bedroom, and three‑bedroom floor plans
Property Analytics
Property Profile
Current Use
Lease Details
179
Residential units
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Explore this area
Business Placement
Demographics for 64506, MO
22,828
Population
9,820
Households
2.3
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
10.0 sq mi
ZIP Area
2,283
Density / Sq Mi
$61,713
Median Household Income
$38,832
Median Earnings
$908
Median Rent
$220,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three St. Joseph communities offer studio through three-bedroom floor plans for a broad workforce tenant base.
Where is this apartment building located?
The property is located at 2901 Frederick Ave Saint Joseph, MO.
What is the asking price?
The asking price for this property is $11,225,000.
What are key features of this property?
This property features: 179 units across three multifamily communities in St. Joseph, Missouri; City View Lofts: 60 units; Summit Place: 23 units; Frederick Avenue Apartments: 96 units; Studio, one‑bedroom, two‑bedroom, and three‑bedroom floor plans
