3516 Central St - Apartments FOR SALE


Kansas City, MO 64111
$1,399,000 USD
913-426-5576
3516 Central St, Kansas City, MO for Sale
$1,399,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

3516 Central St
Kansas City, MO 64111


HIGHLIGHTS

  • Incredible Value-add Potential
  • Heart of Midtown – Walkable Hanover Park Neighborhood
  • Extra Large 1,000 SF Two Bedrooms (in 12 Units)
  • On-site Laundry Facilities with space to Add In-unit
  • Original Hardwood Floors and Historic Character
  • Large Front and Back Balconies

OVERVIEW

Own a piece of Kansas City history with these side-by-side Colonnade buildings – the Naples and the Venice. Originally built in 1911 and well-cared for since. The current owner has operated them for them personally for the last 45 years. This creates a once in a lifetime opportunity to realize an income upside of over $400/unit/mo. Both buildings have six 1,000 SF upper units with two bedrooms, one large bathroom, and a large private front and shared back balcony. Additionally, each building has a one-bedroom unit in the basement. The large units have original hardwood floors and tons of natural light streaming in the recently replaced windows. The heat comes from brand new boiler systems while window units are used to cool in the summer. Parking is on the street, but with a walk score of 85, residents can walk to the gym and coffee shop, along with nearby bars and restaurants. Located near the new streetcar, multiple hospitals and universities, this location is in the heart of all the midtown activity. Residents enjoy the convenience of on-site laundry facilities but plenty of space to add in unit laundry at time of renovation. Seize this opportunity to own a piece of history with a future full of potential!

FOR SALE DETAILS

PRICE

$1,399,000 USD

PRICE/SF

$65 USD /SF

# OF UNITS

14

PRICE/UNIT

$99,929

CAP RATE

Request Cap Rate

% LEASED

78%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Naples & Venice Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1911

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,558 SF

ZONING

-

APN/PARCEL ID

30-220-08-10-00-0-00-000,30-220-08-11-00-0-00-000

ASK ABOUT THIS PROPERTY

Michelle LutzLutz Sales + InvestmentsMore Info
913-426-5576

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

Michelle LutzLutz Sales + InvestmentsMore Info
913-426-5576

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