120 W Elizabeth St - Apartments FOR SALE


Independence, MO 64050- Ott-Chrisman
$3,750,000 USD
913-308-0303
120 W Elizabeth St, Independence, MO for Sale
$3,750,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

120 W Elizabeth St
Independence, MO 64050
Ott-Chrisman


HIGHLIGHTS

  • On-Site Laundry & On Site Parking
  • Central Heat & Air with all HVAC Systems Replaced 2018
  • Sub-metered for Gas & Electric
  • 100% Market Rate Tenants
  • Clean, Well-kept, Workforce Housing - Never Goes Out Of Style

OVERVIEW

Manor Ridge is a 49-unit workforce housing asset across three well-maintained brick buildings comprising three two-bedrooms, 43 one-bedrooms, and thee studios.? The property features on-site parking, coin-operated laundry in the basements, and secured entry.? Nearly all HVAC systems were replaced in 2018, all new doors were installed in 2023, and the roof, parking lot, and brick exterior remain in excellent condition.? Clean, well-kept workforce housing never goes out of style — and Manor Ridge delivers exactly that.? All 49 units are 100% market rate, sub-metered for gas and electric with tenants responsible for their own utility costs.? Landlord-paid water/sewer and trash are offset by a $50/month utility fee on new leases.? Independence sits within the Kansas City metro, drawing on a demographic that reliably seeks clean, professionally managed workforce housing over homeownership.? The property benefits from proximity to major employers including the VA Medical Center and Centerpoint Medical Center, and the retail draw of Independence Center.? With all major capital expenditures complete, and durable demand drivers, Manor Ridge is one to add to your portfolio today!

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$114 USD /SF

# OF UNITS

49

PRICE/UNIT

$76,531

CAP RATE

Request Cap Rate

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Manor Ridge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.33 AC

LAND SF

58,149 SF

ZONING

-

APN/PARCEL ID

15-830-13-02-00-0-00-000,15-830-13-03-00-0-00-000,15-830-13-04-00-0-00-000

ASK ABOUT THIS PROPERTY

Michelle LutzLutz Sales + InvestmentsMore Info
913-308-0303

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Michelle LutzLutz Sales + InvestmentsMore Info
913-308-0303

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