4017-4023 Harrison St - Apartments FOR SALE


Kansas City, MO 64110- South Hyde Park
$1,740,000 USD
913-219-7074
4017-4023 Harrison St, Kansas City, MO for Sale
$1,740,000 USD
Apartments - FOR SALE
1/44
null | Request Cap Rate

4017-4023 Harrison St
Kansas City, MO 64110
South Hyde Park


HIGHLIGHTS

  • Excellent location near Westport, KU Medical & Country Club Plaza
  • 12 off-street parking spaces | 2 Buildings - separate parcels
  • New Roofs - both buildings | New Windows (4021 Harrison)
  • Updated units with high-end finishes | Average Rents of $1,286
  • Recently renovated buildings now stabilized at 100% occupancy
  • Units feature washer/dryer, granite, new cabinets, updated kitchens/baths and new fixtures/appliances

OVERVIEW

The Arsenal is a charming 12-unit, two building complex ideally located in the historic South Hyde Park neighborhood of Kansas City, Missouri. The buildings stands 3-stories with a stately partial brick exterior, new roofs and provide tenants with front & rear access, off-street parking (12 spaces) and ample street parking. The parking lot was recently redone, new concrete at the front of both buildings was poured and the 4021 building had new windows installed. Built in 1921 & 1935, these sister buildings consist of 12 two-bedroom/one-bathroom units with an approximate unit size of 850 square-feet (mirror image floorplans). All units at the complex feature central air/heat, washer/dryer, light hardwood flooring, separate dining areas, good closet space, sunroom/living room, excellent natural lighting, Google Fiber, fully equipped kitchens and ceiling fans. Ownership acquired the buildings late in 2023 and pulled units out of service to create a uniform product. Updates to units include full installment of washer/dryer in all units, new granite and cabinets, new appliances (stainless/black) and fixtures, updated bathrooms/kitchens, and new faux wood blinds. Arsenal is separately metered units for gas and electric (tenant’s responsibility) and has common hot water (landlord pays). The property currently has excellent 3rd party management in place and a history of high occupancy and is now 100% occupied/stabilized. New ownership can add value by continuing the implementation of RUBS/water fees of $35-$45/month as a form of water relief – currently implemented in 50% of the units. The neighborhood hosts sought after schools, such as the Academie Lafayette Cherry Street campus and Notre Dame de Sion, as well as numerous historic churches and businesses. The complex is just north of the University of Missouri-Kansas City’s main campus and east of the Kansas City Art Institute and the neighborhood makes it a draw for tenants seeking a sense of history amongst urban life.

FOR SALE DETAILS

PRICE

$1,740,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

12

PRICE/UNIT

$145,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arsenal

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1935

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

R-1.5

APN/PARCEL ID

30-240-14-09-00-0-00-000,30-240-14-10-00-0-00-000

ASK ABOUT THIS PROPERTY

Brice BradshawKCCommercial.netMore Info
913-219-7074

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Brice BradshawKCCommercial.netMore Info
913-219-7074

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