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32048950
32048915

6212 SLATER ST, MERRIAM, KS 66202-2846

AP
MO 2013032099
Zeal Property Advisors
Listed by Zeal Property Advisors
Unpriced
46 days on market
Updated 46 days ago

The Lookout Apartments

Details
APN JP20000044 0011
Property Type Multifamily
Sub Type Apartment Building
Square Footage 24,689
Net Rentable (SqFt) 20,630
Units 45
NOI $275,000
Occupancy 97%
Pro-Forma NOI $325,000
Class B
Year Built 1965
Year Renovated 2010
Buildings 1
Stories 2
Lot Size (SqFt) 40,929
Zoning High Rise Residential
Parking Spaces spaces

Stabilized Asset | Redevelopment Opportunity

Marketing description

Zeal Property Advisors, LLC is pleased to present the exclusive offering of The Lookout Apartments (“The Property”), a 34-unit apartment community located in Merriam, Kansas. The Property was built in 1965 and underwent substantial renovations to the interior and exterior in the late 2000’s. The asset is located next door to the ongoing $250mm Merriam Grand Station & Marketplace development featuring a Trader Joes grocer catty-corner to Lookout. The Property is considered stabilized with little to no deferred maintenance in a suburban pocket gentrifying in real time. The Property is additionally uniquely zoned for High Rise Residential and prospective investors are encouraged to review this opportunity as a redevelopment or use as a future exit strategy.

The Property is offered as a fee simple sale free and clear of debt and offers prospective investors the opportunity to acquire a well-located asset primed for above par appreciation + rent growth. Tour dates will be announced by the Brokers at a future date.

Investment highlights

Located Adjacent to Merriam City Hall + Community Center

Located Near $250mm Development

Catty-Corner to Trader Joes

Stabilized Asset Located in Suburban Pocket Gentrifying in Real Time

Operational Value-Add

Zoned High Rise Residential

Listing Contacts

AP
MO 2013032099
Zeal Property Advisors
Listed by Zeal Property Advisors

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$275,000.00
$22,916.67/mo

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