1316 Admiral Blvd
9 Units | $72,000 / unit
Marketing description
Terrific brick 9-unit apartment building with high occupancy and ability to add value by increasing to market rate rents, consolidating utility expenses, and/or adding affordable housing tenants.
Positioned just minutes from some of Kansas City's most dynamic destinations, this property is located within 1 mile of the Kansas City University Medical Campus, River Market, Columbus Park, and Downtown Kansas City and just 2 miles from the $1 billion Berkley Riverfront development & KC Current Soccer Stadium. While the immediate area is still evolving, the location offers exceptional proximity to ongoing redevelopment, major employment centers, established neighborhoods, dining, entertainment, and future growth opportunities throughout the urban core.
Investment highlights
- Brick 9-unit apartment building
- Unit mix: studio / 1 bath (2 floorplans)
- 7 / 9 units are occupied. One unit is intentionally vacant for showings.
- Long-term tenants
- Value-add opportunity via increasing to market rate rents, consolidating utility expenses, and/or adding affordable housing tenants
- Positioned just minutes from some of Kansas City's most dynamic destinations, this property is located within 1 mile of the Kansas City University Medical Campus, Downtown Kansas City, The River Market, and the established Columbus Park neighborhood
- 2 miles from the $1 billion Berkley Riverfront development & KC Current Soccer Stadium
- The location offers exceptional proximity to ongoing redevelopment, major employment centers, established neighborhoods, dining, entertainment, and future growth opportunities throughout the urban core
- Prime opportunity for affordable housing tenants with current HUD Fair Market Value Rate of $979 for studios in this zip code
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