3502 Range Line RdJoplin, MO 64804

For Sale
$3,500,000

High-Traffic Area, Updated Units

Overview

Added:
Dec 11, 2024
Days on market:
93
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.

Highlights

  • $3,500,000 asking price for a 28-unit apartment building.
  • 6.65% cap rate.
  • 30% occupancy.
  • 28 units, all two-bedroom, one-bathroom apartments, approximately 1000 sqft each.
  • Six buildings on a 3.18-acre lot, with 70 parking spaces.
  • Built in 1978, Class B property.

Property Details for 3502 Range Line Rd

Property type
Multifamily properties, Apartment buildings
Class
B
Year Built
1978
Buildings
6
Stories
2
Lot Size (sq. ft)
138,521 SF
Units
28

Location Insight

City
Joplin
County
Newton
State
Missouri
Latitude
37.0503597
Longitude
-94.4797748
3502 Range Line Rd, Joplin, Missouri

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
3502 Range Line Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message