Call For Offers: June 13th
Newmark, as exclusive advisor, is pleased to present the opportunity to acquire University Towers (the "Property") located at 1150 East 51st Street, Kansas City, Missouri 64110. University Towers consists of 9 spacious two-bedroom two-bath units that are 100% occupied. Each unit has been remodeled to include stainless steel appliances, new cabinets, granite countertops, in-unit washer and dryers and vinyl flooring.
The property is situated within walking distance to the University of Missouri - Kansas City, Rockhurst University, Stowers Institute, Whole Foods and the newly expanded $350M Kansas City Streetcar line connecting to the River Market in Downtown Kansas City. The properties South Plaza location offers residents easy access to transportation, high end 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%.
University Towers highly desirable location, quality, and functionality have resulted in strong historical occupancy with little to no tenant turnover and units often pre-leased well in advance of lease expirations. Under current ownership’s tenure aside from one scheduled vacancy for rehab of a unit, the Property has remained 100% leased throughout the life of the investment by word of mouth marketing with no online marketing required.