Description
42 units located in a stunning location with millions in new development nearby. Many units upgraded paint and color scheme with LVP flooring. Located in one of the hottest sub-markets in KC - next door to Penn Valley Metro Community College and walking distance to Crossroads (occupancy will never be an issue). Blocks from $300mm Kansas City Streetcar Extension. Enjoy baked in equity. Sales comparables show similar buildings fully stabilized at $115,000+ per door. Exterior rehab completed - all new windows, brick tuckpointing, new roofs within last 5 years, wood rot, etc. Opportunity to capture $200+ per unit in upside with improved interiors. True Value-Add potential with major exterior rehab complete allowing the units to be renovated and cosmetic exterior improvements for much higher rents. Great studio layout for spacious feel. Tons of cap ex injected into the property structure and maintenance. Quality rents with great opportunity to push rents higher as units turn (see rent study). Washer and dryer facilities on site. Recent RUBs bill-back program implemented for many units. New owners can capture additional RUBS immediately. 42 studio units.
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Description
42 units located in a stunning location with millions in new development nearby. Many units upgraded paint and color scheme with LVP flooring. Located in one of the hottest sub-markets in KC - next door to Penn Valley Metro Community College and walking distance to Crossroads (occupancy will never be an issue). Blocks from $300mm Kansas City Streetcar Extension. Enjoy baked in equity. Sales comparables show similar buildings fully stabilized at $115,000+ per door. Exterior rehab completed - all new windows, brick tuckpointing, new roofs within last 5 years, wood rot, etc. Opportunity to capture $200+ per unit in upside with improved interiors. True Value-Add potential with major exterior rehab complete allowing the units to be renovated and cosmetic exterior improvements for much higher rents. Great studio layout for spacious feel. Tons of cap ex injected into the property structure and maintenance. Quality rents with great opportunity to push rents higher as units turn (see rent study). Washer and dryer facilities on site. Recent RUBs bill-back program implemented for many units. New owners can capture additional RUBS immediately. 42 studio units.
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