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    128 Park Ln Saint Joseph, MO 64506

    For Sale
    $1,050,000

    Missouri Multifamily Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a 32-unit apartment complex located at 128-148 Park Lane, St. Joseph, Missouri, 64506. The property, built in 1920, comprises six attractive buildings featuring classic red brick veneer, situated on a substantial 21,648 square foot lot. The complex consists of 16 studio and 16 one-bedroom apartments, spread across two stories. A significant renovation project has already been undertaken by the current owner, encompassing major upgrades to the plumbing and electrical systems in most units. All buildings boast new TPO roofing, and some units feature newly installed windows. Each unit benefits from its own electric meter, ensuring tenants are responsible for their electricity costs. Water is handled differently

    Property Features for 128 Park Ln

    General Information

    Property type
    Specialty properties

    Building Details

    Year Built
    1920
    Stories
    2
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Parklane Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Saint Joseph
    County
    Buchanan
    State
    Missouri
    Longitude
    -94.8333481
    Latitude
    39.7775407

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    FAQs

    What type of property is this?
    Specialty property - Missouri Multifamily Investment Opportunity
    Where is this specialty property located?
    The property is located at 128 Park Ln Saint Joseph, MO.
    What is the asking price?
    The asking price for this property is $1,050,000.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    128 Park Ln Saint Joseph, MO 64506
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