2207 E 24th Ter - Apartments FOR SALE


Kansas City, MO 64127- Wendell Phillips
$339,000 USD
913-653-8204
2207 E 24th Ter, Kansas City, MO for Sale
$339,000 USD
Apartments - FOR SALE
1/18
null | 8.03% Cap Rate

2207 E 24th Ter
Kansas City, MO 64127
Wendell Phillips


HIGHLIGHTS

  • Priced at $84,750/unit with 8.03% in-place cap rate on in-place income
  • 75% leased with $895/unit proven rent and low historical turnover
  • Fully electric with RUBS water/sewer; low annual expenses at ~$4K/unit
  • Recent upgrades: new decks and gravel drive (2025)
  • Voucher rent strategy and light curb appeal improvements offer upside

OVERVIEW

2207 E 24th Terrace is a clean, cash-flowing 4-plex in East KC with strong historical occupancy and an in-place 8.03% cap. All units rent between $850 - $895 and include a third non-conforming room, offering added utility and leasing appeal. Major capex is done — including full deck replacements and a new gravel driveway in 2025. The owner selfmanages, with low operating costs and tenant-paid and reimbursed utilities. Larger-than-average units and strong rent demand make this an easy, efficient hold. Priced to move with immediate cash flow and long-term upside in a revitalizing submarket

FOR SALE DETAILS

PRICE

$339,000 USD

PRICE/SF

$88 USD /SF

# OF UNITS

4

PRICE/UNIT

$84,750

CAP RATE

8.03%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1909

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

-

APN/PARCEL ID

29-640-16-02-00-0-00-000

ASK ABOUT THIS PROPERTY

David BelpedioClemons Real EstateMore Info
913-653-8204

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David BelpedioClemons Real EstateMore Info
913-653-8204

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