Four-Building Apartment
421 W 3rd Street Joplin, MO 64801
421 W 3rd Street, Joplin, MO, 64801
$1,115,000
Pending
For Sale
$1,115,000
Pending
MULTI_FAMILY - Other - Joplin, MO
Property Size10,916 SF
Lot Size0.31 Acres
Days on Market47
Property Features for 421 W 3rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-3
- Bedrooms
- 19
- Bathrooms
- 19
- Rooms
- Bathroom 5, Bedroom 7, Bedroom 14, Bedroom 10, Bathroom 1, Bedroom 6, Bathroom 15, Bedroom 18, Bedroom 11, Bathroom 19, Bedroom 15, Basement, Bedroom 8, Bathroom 17, Bedroom 9, Bedroom 16, Bedroom 5, Bathroom 2, Bathroom 16, Bathroom 6, Bathroom 8, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 12, Bathroom 9, Bathroom 14, Bathroom 11, Bedroom 19, Bathroom 7, Bathroom 10, Bathroom 4, Bathroom 12, Bedroom 17, Bedroom 2, Bathroom 18, Bathroom 13, Bedroom 1, Bedroom 13
- Standard status
- Pending
- Size
- 10,916 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2628
Utilities
- Heating system
- Hot Water(Heating), Floor Furnace, Radiant
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 19
- Flooring type
- Carpet, Vinyl, Wood
- Roof type
- Composition, Rolled Hot Mop
- Architectural style
- Other
Listing Agency
GLENN GIBSON COMMERCIAL REAL ESTATE
(417) 825-8213
2650 E 32nd Street Ste. 221, JOPLIN, MO
Listed by
Luke Gibson · License #2015033987
(417) 359-6868
Added: Jun 3 Checked: Jul 19 at 5:06 am
MLS# 263011
Listing URL
Copyright © 2026 Ozark Gateway Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale multifamily apartment community consists of four well-maintained buildings with a total of 19 units. Each unit is configured as a 1-bedroom, 1-bath apartment, creating a consistent living layout across the property. The offering is presented as having a strong history of consistent occupancy, supporting an operator’s need for a straightforward unit mix and manageable property management.
The property is located in a central area of Joplin, Missouri, with convenient access to shopping, dining, and transportation as described in the marketing remarks. The site occupies 0.31 acres, with a reported total property size of 10,916 square feet.
This asset may be a practical fit for investors or buyers seeking a small-balance apartment portfolio with uniform 1-bedroom, 1-bath units and four separate buildings under one ownership. The described consistent occupancy history and centralized tenant convenience are intended to appeal to renters looking for comfort and day-to-day ease. Zoning is listed as R-3.
The property is located in a central area of Joplin, Missouri, with convenient access to shopping, dining, and transportation as described in the marketing remarks. The site occupies 0.31 acres, with a reported total property size of 10,916 square feet.
This asset may be a practical fit for investors or buyers seeking a small-balance apartment portfolio with uniform 1-bedroom, 1-bath units and four separate buildings under one ownership. The described consistent occupancy history and centralized tenant convenience are intended to appeal to renters looking for comfort and day-to-day ease. Zoning is listed as R-3.
Key Highlights
- Multifamily consists of 4 buildings with a total of 19 units
- All 19 units are 1‑bedroom, 1‑bath apartments
- Built in 1920
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $170.3k | $15.60 |
| − Vacancy | −$13.6k | −$1.25 |
| EGI | $156.7k | $14.35 |
| − OpEx | −$70.5k | −$6.46 |
| NOI | $86.2k | $7.89 |
10,916 SF · lease $15.60/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,167 @ 7.0% cap · market cap 7.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,546 @ 7.0% cap · market cap 20.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Four well-maintained buildings totaling 19 units of 1-bedroom, 1-bath apartments in a central Joplin setting.
Where is this apartment building located?
The property is located at 421 W 3rd Street Joplin, MO.
What is the asking price?
The asking price for this property is $1,115,000.
What are key features of this property?
This property features: Multifamily consists of 4 buildings with a total of 19 units; All 19 units are 1‑bedroom, 1‑bath apartments; Built in 1920
