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Westchester Village of St Joseph 2302 Village Dr 60 Unit Apartment Building For Sale Saint Joseph, MO 64506
Investment Highlights
- Recent LIHTC Expiration – Immediate Market Rate Conversion Opportunity
- Premier Retail Corridor Positioning & Strategic Regional Connectivity
- Extremely Attractive Basis – Well Below Current Replacement Cost
- Meticulously Maintained by Original Developer
- Significant Value-Add Upside with Strategic Modernization and Market Rate Transition
- Demand-Optimized Unit Mix – 70% Two-Bedroom Concentration
Executive Summary
MMG Real Estate Advisors is pleased to present Westchester Village of St. Joseph, a 60-unit, 1993-vintage multifamily asset located in St. Joseph, Missouri — directly off the main retail corridor. Having exited the LIHTC program recently in 2024, Westchester Village of St. Joseph enters the market at a pivotal inflection point: rent and income restrictions have been fully lifted, and the conversion to market-rate operations is now present. The asset is offered by its original developer — its first appearance on
the open market in over 30 years — providing an incoming owner with a well-preserved physical plant, a clear and executable value-add business plan, and immediate access to market-rate revenue streams previously unavailable under the LIHTC program. The combination of a constrained supply submarket, demonstrated comp support for materially higher rents, and a 70% two-bedroom unit mix positions Westchester Village as a compelling risk-adjusted opportunity for investors seeking durable cash
flow and near-term revenue growth.
the open market in over 30 years — providing an incoming owner with a well-preserved physical plant, a clear and executable value-add business plan, and immediate access to market-rate revenue streams previously unavailable under the LIHTC program. The combination of a constrained supply submarket, demonstrated comp support for materially higher rents, and a 70% two-bedroom unit mix positions Westchester Village as a compelling risk-adjusted opportunity for investors seeking durable cash
flow and near-term revenue growth.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 5.30 AC |
| No. Units | 60 | Building Size | 46,233 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1993 |
| Building Class | B | Parking Ratio | 2.38/1,000 SF |
| Zoning | CITY | ||
| Sale Type | Investment |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 5.30 AC |
| Building Size | 46,233 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1993 |
| Parking Ratio | 2.38/1,000 SF |
| Zoning | CITY |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Microwave
- Heating
- Refrigerator
- Oven
- Range
- Lawn
- Wheelchair Accessible (Rooms)
Site Amenities
- Clubhouse
- Fitness Center
- Laundry Facilities
- Playground
- Property Manager on Site
- Planned Social Activities
- Trash Pickup - Curbside
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $985.48 CAD | 702 |
| 2+1.5 | 42 | $1,143 CAD | 862 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 06-1.0-02-002-000-007.004 | Improvements Assessment | $165,289 CAD (2025) |
| Land Assessment | $65,883 CAD (2025) | Total Assessment | $231,172 CAD (2025) |
Property Taxes
Parcel Number
06-1.0-02-002-000-007.004
Land Assessment
$65,883 CAD (2025)
Improvements Assessment
$165,289 CAD (2025)
Total Assessment
$231,172 CAD (2025)
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Westchester Village of St Joseph | 2302 Village Dr
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