10907 E 87th St - Multi-Family FOR SALE


Raytown, MO 64138
$1,600,000 USD
573-694-9669
10907 E 87th St, Raytown, MO for Sale
$1,600,000 USD
Multi-Family - FOR SALE
1/85
null | Request Cap Rate

10907 E 87th St
Raytown, MO 64138


HIGHLIGHTS

  • 14.26-Acre Multifamily Campus | 11 Units | 7 Buildings
  • $1.8M Invested | Approximately 85% Complete
  • Certificate of Non-Conforming Use Protecting Existing Multifamily Use
  • Flexible Campus for Multifamily, Owner-Occupant, Nonprofit, Therapy, & Faith-Based Uses

OVERVIEW

10907 E. 87th Street presents a rare opportunity to acquire a 14.26-acre, campus-style property in Kansas City, Missouri. The property features seven existing buildings and 11 residential units situated among mature trees, rolling topography and expansive open land. A Certificate of Non-Conforming Use protects the property’s existing multifamily operations, providing a valuable legal foundation for continued residential use. Current ownership has invested approximately $1.8 million in renovations, construction, infrastructure and site improvements, bringing the project to approximately 85% completion. A new owner can complete the remaining improvements, secure the necessary certificates of occupancy and stabilize the property. The property offers flexibility for several potential strategies, including market-rate rentals, employee housing, transitional housing, nonprofit programming, therapies or a faith-based campus. Existing structures occupy only a portion of the site, leaving significant acreage for future development or long-term land appreciation. Located in East Kansas City, the property provides convenient access to I-435, I-70, US-40 and MO-350, connecting it to Downtown Kansas City, Independence, Blue Springs and Lee’s Summit. This offering combines protected residential use, substantial completed improvements and long-term redevelopment potential within one unique metropolitan property. Investment Highlights Rare 14.26-acre, campus-style investment opportunity in Kansas City, Missouri Seven existing buildings comprising 11 residential units across 614,888 square feet of land Certificate of Non-Conforming Use protects the property’s existing multifamily operations Approximately $1.8 million invested in renovations, construction, infrastructure and site improvements Project is approximately 85% complete, allowing a buyer to finish the remaining work and stabilize operations Multiple potential strategies, including market-rate rentals, staff housing, transitional housing, nonprofit use or a faith-based campus Significant remaining acreage provides long-term redevelopment and land-appreciation potential Private, park-like setting featuring mature trees, rolling topography and a dispersed building layout Convenient access to I-435, I-70, US-40 and MO-350 Positioned near healthcare facilities, schools, neighborhood retail and community services

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

11

PRICE/UNIT

$145,455

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

14.26 AC

LAND SF

621,166 SF

ZONING

R-80

APN/PARCEL ID

50-140-02-02-00-0-00-000

ASK ABOUT THIS PROPERTY

Logan FreemanMidwest CRE Advisors, LLCMore Info
573-694-9669

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Logan FreemanMidwest CRE Advisors, LLCMore Info
573-694-9669

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