Current Use by Public Records
- Maple Wood Place / Apartment Complex
Property Details for 3502 Range Line Rd
- Year built
- 1978
- Lot size
- 3.18 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 28-unit apartment complex situated on a 3.18-acre lot in Joplin, Missouri. The property, located at 3502 S Rangeline Rd, boasts six two-story buildings, offering a total of 70 parking spaces. Currently operating at 30% occupancy, this Class B multifamily property presents significant upside potential. Each of the 28 units features two bedrooms and one bathroom, with approximately 1000 square feet of living space. Recent renovations include granite countertops, updated appliances (including washer/dryer), and complete furnishings in every unit. An additional 3,631 square foot building, remodeled in 2022, currently serves as an office but could easily be converted into a resident clubhouse. The property is zoned C-3 and includes three parcels: 056024001016001, 05302400101600, and 050624001001004003. Offered at $3,500,000 ($125,000 per unit) with a 6.65% cap rate, this property represents a compelling addition to any multifamily portfolio. Showings are by appointment only with 24-hour notice. Built in 1978, this property offers a blend of established infrastructure and modern updates, promising strong returns for the discerning investor.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Joplin
- County
- Newton
- State
- Missouri
- Longitude
- -94.4798
- Latitude
- 37.0504
