3433-3435 Central St - Apartments FOR SALE


Kansas City, MO 64111- Broadway Gillham
$1,750,000 USD
913-219-7074
3433-3435 Central St, Kansas City, MO for Sale
$1,750,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

3433-3435 Central St
Kansas City, MO 64111
Broadway Gillham


HIGHLIGHTS

  • Excellent location in the heart of Midtown near KC Streetcar Extension Line - Old Hyde Park Historic District
  • 3 off-street parking spaces at rear & Virtual Doorman Service on Entry
  • Laundry Care Center in basement (Jetz Lease)
  • All-Electric Building - Studios, 1-bed and 2-bed units
  • Stabilized Asset with Value-Add Opportunity - uniform updates to units & common area
  • PTAC units (15 units), Central Air (2 units), Balconies (6 units), Hardwoods (all units) & Fully Equipped Kitchens (all units)

OVERVIEW

Located in the heart of Midtown Kansas City, Missouri, the Armour View Apartments are one of areas original colonnade-style buildings residing in the Old Hyde Park Historic District. Built in 1911, the building is comprised of 17 units, standing 3-stories and provides 3 off-street parking spaces at the rear (ample street parking). Armour View offers a variety of floorplans including studios, 1-bedroom and 2-bedroom units, ensuring a broad appeal to tenants with diverse needs and preferences. The studio units have an approximate unit size of 385 square-feet (+/-), one-bedrooms units have an average size of 515 square-feet (+/-) and the two-bedroom unit has an approximate size of 771 square-feet (+/-). The building is all-electric with a virtual doorman service upon entry and provides a laundry care center to tenants in the basement (multiple coin-operated machines – Jetz Lease). Water/Hot Water is common with multiple machines working in sequence (landlord responsibility) and the building is separately metered for electric (tenant’s responsibility). All units at the complex feature hardwood floors and laminate/tile (kitchen/baths), PTAC units for heating/cooling (15 units), Google Fiber, fully equipped kitchens, single-pane windows and functional floorplans. Select units have balconies (6 units) and central air (2 units). Ownership/management have implemented monthly RUBS/water fees to all units ranging from $60-$70. The property boasts an excellent location near the shops in Broadway-Gillham, Martini Corner and the new KC Streetcar Extension Line (multiple stops within walking distance to subject – 84 Walkability Score). The asset presents an appeal to both the stabilized and value-add investor. Buyer could continue to manage property as-is with small incremental improvements to present a uniform product across all units or look to carry out a more significant rehab to all units with modern/higher-end finishes including addition of in unit laundry and updated kitchens and baths. The value-add project allows a new owner maximum flexibility to bring their vision to a great building in a superb location.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$146 USD /SF

# OF UNITS

17

PRICE/UNIT

$102,941

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Armour View

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1911

PARKING SPACES

3

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R-0.5

APN/PARCEL ID

29-830-24-13-00-0-00-000

ASK ABOUT THIS PROPERTY

Brice BradshawKCCommercial.netMore Info
913-219-7074

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Brice BradshawKCCommercial.netMore Info
913-219-7074

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