512-516 Splitlog Ave - Apartments FOR SALE


Kansas City, KS 66101
$3,995,000 USD
913-956-5817
512-516 Splitlog Ave, Kansas City, KS for Sale
$3,995,000 USD
Apartments - FOR SALE
1/6
null | 5.99% Cap Rate

512-516 Splitlog Ave
Kansas City, KS 66101


HIGHLIGHTS

  • Newly Renovated: All of City View at Splitlog’s units have been newly renovated.
  • Desirable Location: City View at Splitlog is located in the heart of the Strawberry Hill neighborhood, minutes from downtown Kansas City.
  • City View at Splitlog is currently 100% leased. New leases are being leased at the increased rental rates (1 BD - $1,100 / 2 BD $1,225).
  • New ownership will have the opportunity to increase rates as they have not been increased in 2 years.
  • With a current vacancy rate of just 3.5% in the area—well below market averages—demand for rental units remains high.

OVERVIEW

NAI Heartland is pleased to present City View at Splitlog, a newly renovated apartment building in the heart of Kansas City’s Strawberry Hill Neighborhood and just minutes from downtown Kansas City. The eclectic building offers a blend of comfort, livability and convenience with newly renovated units, balconies on every unit, and unforgettable views of Downtown. City View at Splitlog is a 31,131 SF building comprised of a mix of comfortable one and two bedroom floor plans totaling 29 units. Units feature white cabinets, granite counter tops, stainless steel appliances, real hardwood floors, brand new bathrooms, washer and dryer hookups, and private balconies or patios. Rents start at $1,100 per month. The building benefits from unbeatable highway access, accessibility to downtown Kansas City, and free off-street parking. City View at Splitlog is located in the Strawberry Hill neighborhood, a quaintly historic, yet thriving neighborhood situated minutes from downtown Kansas City. Originally established by European immigrants from all descents, the area is now home to an eclectic mix of local restaurants, bars, businesses and shops. With the perfect mix of historic culture and new, vibrant energy Strawberry Hill is an attractive area that draws young professionals and families.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$128 USD /SF

# OF UNITS

28

PRICE/UNIT

$142,679

CAP RATE

5.99%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

City View at Splitlog

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.68 AC

LAND SF

29,621 SF

ZONING

KRP5

APN/PARCEL ID

904333

ASK ABOUT THIS PROPERTY

Brandon HeckNAI HeartlandMore Info
913-956-5817

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Brandon HeckNAI HeartlandMore Info
913-956-5817

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