Kensington Apartments
6 Unit Apartment Building | $427,500 ($71,250/Unit) | Kansas City, KS 66102
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $427,500
- Property Type
-
Multifamily
- Square Feet
- 3,720 SF
Listing Contacts
Michelle Lutz
Verified Profile
Lee Ripma
Verified Profile
Justin Triplett
Verified Profile
- Property Info
Property Overview
**Seller Financing Available** 100% occupied six-unit building with a favorable price-to-rent ratio! The Kensington Apartments complex was originally built in 1966 and has been well-maintained since. This small apartment complex is located just outside downtown Kansas City, Kansas with easy access to freeways, shopping, and parks. Each unit features a spacious living room with a patio, a functional kitchen, an oversized bathroom, and bedroom with a patio. Residents enjoy the convenience of dedicated off-street parking located behind the building. Income upside from adding on site laundry and get all units to market rent. This stabilized property offers a solid investment with potential for increased revenue in the future.
Why We Love It: Fully occupied units with below-market rents, stable income, and proximity to the whole metro at an affordable price point.
The Challenge: The building currently has central heat but does not have central air. Adding central air wouldn’t be that difficult and would be a nice feature for tenants.
The Value-Add Play: Renovate units to a more modern standard with corresponding rental increase. For additional income, add on-site or in-unit laundry, there are already hook-ups for coin laundry but no machines.
Why We Love It: Fully occupied units with below-market rents, stable income, and proximity to the whole metro at an affordable price point.
The Challenge: The building currently has central heat but does not have central air. Adding central air wouldn’t be that difficult and would be a nice feature for tenants.
The Value-Add Play: Renovate units to a more modern standard with corresponding rental increase. For additional income, add on-site or in-unit laundry, there are already hook-ups for coin laundry but no machines.
Property Details
- Class
- C
- Year Built
- 1966
- Stories
- 3
- Lot Size (sq. ft)
- 9,583 SF
- Units
- 6
Highlights
- Central Kansas City, Kansas Location – Easy Access to Parks, Shopping, and Freeways
- New Construction Single Family in the Immediate Neighborhood
- Dedicated Off-Street Parking in Rear Parking Lot
- Central Heat
- 100% Spacious One Bedroom Units
- Cash Flow from Day One
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