816-508-7127
12322 3rd St, Grandview, MO for Sale
Apartments - FOR SALE
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12322 3rd St
Grandview, MO 64030


HIGHLIGHTS

  • Recently Renovated, Stabilized Asset with Limited Deferred Maintenance
  • Proven Renovation Premium Across the Remaining Classic Units
  • Embedded Mark-to-Market Rent Upside on In-Place Leases
  • Durable Income Anchored by Agency Housing Contracts
  • Strong Ancillary Income Through Utility Recovery and Fees
  • Workforce Housing in a Supply-Constrained Submarket

OVERVIEW

As exclusive advisor, MMG Real Estate Advisors is pleased to present Victory Park, a 104-unit garden apartment community in Grandview, Missouri. The asset sits on 4.88 acres in the South Kansas City and Grandview submarket, directly adjacent to the Harry S. Truman Farm Home and minutes from Interstate 49 and US-71. Both prior ownership and the current owner have spent significant capital on deferred maintenance and long-term asset preservation items, allowing a new owner to step into a stabilized, recently improved asset rather than a heavy construction project. Additionally, significant rent premiums have been proven on nearly half of the property, demonstrating the viability of further value-add upside. Victory Park offers durable, workforce-priced cash flow with a clear path to continued growth. In-place rents trail current market and renovated-unit pricing, the remaining classic units carry a proven renovation premium, and a portion of the rent roll is backed by long-term agency housing contracts. The result is an income stream that is both defensible today and positioned to climb under disciplined ownership.

FOR SALE DETAILS

PRICE

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# OF UNITS

104

CAP RATE

Request Cap Rate

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Victory Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1974

PARKING SPACES

200

LAND DETAILS

LAND ACRES

4.84 AC

LAND SF

210,830 SF

ZONING

Residential

APN/PARCEL ID

64-820-03-20-00-0-00-000

ASK ABOUT THIS PROPERTY

TJ WahlMMGMore Info
816-508-7127

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TJ WahlMMGMore Info
816-508-7127

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