7000 Cleveland Ave - Apartments FOR SALE


Kansas City, MO 64132- Self Help Neighborhood Council
$2,590,000 USD
913-308-0303
7000 Cleveland Ave, Kansas City, MO for Sale
$2,590,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

7000 Cleveland Ave
Kansas City, MO 64132
Self Help Neighborhood Council


HIGHLIGHTS

  • Central Heat & Air
  • Sub-metered Utilities (Except Water)
  • Ample On-Site Parking in Dedicated Parking Lot
  • Stable Workforce & Voucher Housing
  • Centrally Located for all of Kansas City – near Highways and Bus Lines
  • Value-add Opportunities: Revive Two on-site Laundry Rooms & Get All Units to Market Rent

OVERVIEW

The Park Place Apartments is a rehabbed 34-unit multifamily property in the heart of Kansas City offering stable in-place income with opportunities for income upside. Originally built in 1963, the property has been thoughtfully updated through the years with granite countertops and LVP flooring in all units. Park Place Apartments presents a compelling opportunity for workforce and voucher housing cash flow with income upside. Every unit has been renovated with modern finishes, including luxury vinyl plank flooring, dishwashers, central heat and A/C, granite countertops, and updated kitchens and bathrooms. Tenants enjoy ample off-street parking just steps from their doors. Two common-area spaces provide additional upside, with the opportunity to convert them back to on-stie laundry, boosting income and tenant convience. Each unit is separately metered and features its own furnace, water heater, and A/C condenser, keeping maintenance costs low and operations straightforward. Whether you're looking for steady returns or a platform for community impact, Park Place Apartments offers updated units with steady cash flow.

FOR SALE DETAILS

PRICE

$2,590,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

34

PRICE/UNIT

$76,176

CAP RATE

Request Cap Rate

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Park Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1964

PARKING SPACES

68

LAND DETAILS

LAND ACRES

1.3 AC

LAND SF

56,628 SF

ZONING

R-1.5

APN/PARCEL ID

46-410-26-13-00-0-00-000,46-410-26-14-00-0-00-000

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.