3240-3244 Harrison St - Apartments FOR SALE


Kansas City, MO 64109- North Hyde Park
$3,300,000 USD
816-512-1014
3240-3244 Harrison St, Kansas City, MO for Sale
$3,300,000 USD
Apartments - FOR SALE
1/13
null | 7.94% Cap Rate

3240-3244 Harrison St
Kansas City, MO 64109
North Hyde Park


HIGHLIGHTS

  • 100% occupied demonstrating high tenant demand Average rents of $1,138 are below average KC market rents of $1,324
  • 4.10% assumable financing available
  • Fully renovated in 2020 including fully replaced roofs, mechanical, electrical, and plumbing
  • Renovated interiors include flooring, cabinets, stainless steel appliances and granite countertops
  • Located within walking distance to the Main Street Expansion of the KC Streetcar
  • Surrounded by several higher education institutions including the Kansas City Art Institute, Rockhurst, UMKC, and MCC

OVERVIEW

Zimmer Real Estate Services, as exclusive advisor, is pleased to present the opportunity to acquire the The W Apartments (the “Property”) for $3,330,000 ($150,000/Unit) Red Point consists of 22-units, with a mix of 10 one-bedroom and 12 two-bedroom units that are 100% occupied. Red Point offers attractive low risk assumable financing at 4.10%. The Property is located in the highly desirable Midtown submarket of Kansas City, Missouri within walking distance to many of Kansas City’s most popular restaurant and entertainment districts. The W Apartments consist of 12 one-bedroom units that are 100% occupied.  The Property went through a full renovation in 2020, including new roofs, solar panels, mechanical, electrical, and plumbing. Interior renovations included new flooring, cabinets, stainless steel appliances and granite countertops. Situated within walking distance of the newly expanded $350M Kansas City Streetcar line, the properties Midtown location offers residents easy access to transportation, shops, and restaurants. Kansas City’s multifamily market has seen strong growth over the past year, with 3.7% annual rent growth, significantly outpacing the national average of 0.9%.

FOR SALE DETAILS

PRICE

$3,300,000 USD

PRICE/SF

$173 USD /SF

# OF UNITS

22

PRICE/UNIT

$150,000

CAP RATE

7.94%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Red Point

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1968

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

-

APN/PARCEL ID

29-840-16-18-00-0-00-000

ASK ABOUT THIS PROPERTY

Christopher Robertson, CCIMNewmark ZimmerMore Info
816-512-1014

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Christopher Robertson, CCIMNewmark ZimmerMore Info
816-512-1014

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.