Westchester Village of St. Joseph
Westchester Village of St. Joseph | 60 Units | Built 1993 | St. Joseph, MO
Marketing description
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.
Investment highlights
- Recent LIHTC Expiration – Immediate Market Rate Conversion Opportunity
- Meticulously Maintained by Original Developer
- Premier Retail Corridor Positioning
- Significant Value-Add Upside with Strategic Modernization and Market Rate Transition
- Extremely Attractive Basis – Well Below Current Replacement Cost
- Strategic Regional Connectivity
- Demand-Optimized Unit Mix – 70% Two-Bedroom Concentration
- Offered Free and Clear of Existing Debt
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