207 South Main Street
Multifamily | 20 Units
Marketing description
Known as Thomas Apartments East, 207 South Main Street in Louisiana, Missouri is a distinguished 20-unit multifamily property operating under the U.S. Department of Housing and Urban Development's Housing Assistance Payments (HAP) Program. Under the HAP program, tenant rent contributions are calculated based on each tenant's income, with the government automatically paying the tenant's share — often half or more of total rent — directly to the landlord. This blended income structure significantly reduces collection risk while delivering consistent, reliable cash flow.
Prominently identified by its engraved stone building marker, this solid brick apartment complex sits on one of Louisiana's most visible addresses — South Main Street — with gorgeous views of the Mississippi River and easy walking access to the city's core amenities. Well-maintained grounds, black iron railings, classic stairways, and luxury vinyl laminate floors make this a property tenants are proud to call home and investors are confident holding long-term.
This property is owned by the same party as 207 South 5th Street in Louisiana, MO — also currently listed for sale. The two properties may be acquired together, offering investors the ability to build an immediate, diversified multifamily portfolio in Louisiana under a single transaction. Combined, the portfolio spans 36 units across two HAP-program properties — creating meaningful economies of scale in management, maintenance, and HUD program administration. Please see the 207 South 5th Street listing for details.
Investment highlights
- Hap Program: Tenant rent is income-based; the government automatically pays the tenant's portion — often half or more — directly to the landlord. Stable, blended income with reduced collection risk.
- 20 One - Bedroom Units: Uniform floor plan simplifies operations. High-demand unit type under HAP programs with consistent tenant base.
- Prime Main Street Location: Situated on South Main Street with high visibility, curb appeal, and proximity to city services and the Mississippi River.
- Brick Construction: Solid, low-maintenance brick exterior with classic ironwork railings, shared stairways, and well-kept landscaped grounds.
- Updated Interiors: Luxury vinyl laminate flooring, updated fixtures, and comfortable layouts reflecting quality and tenant comfort throughout.
- Mississippi River Views: Unique riverfront setting offering tenants scenic views of the Mississippi River — a rare and desirable amenity.
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