Contacts
Steven Silverman
Friedman Real Estate
(248) 324-2000
Property Details
- Property Type Multi-Family
- Property Size 72,766 SF
- Units 123
- Lot Size 1.7 Acre
- Year Built 1963
- Year Renovated 2023
- Date Updated Feb 12, 2024
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Highlights
- ±123-unit multifamily property located in Independence, MO (Kansas City suburb)
- 11-story mid-rise tower presents a desirable assortment of studio, one, and two-bedroom apartment homes
- Significant value-add opportunity!
- Current occupancy stands at ±63%, whereas the Independence/East KC submarket boasts an impressive 95% occupancy rate
- Stabilized Proforma NOI: ±$940k/year
- New ownership can quickly renovate existing & down units, and bring online top-floor units with prime views of the Kansas City skyline
- Numerous underutilized common areas can be transformed into a modern fitness room, resident lounge, and other revenue-generating spaces
- The private and secure underground parking garage provides revenue opportunities through parking fees
- ±100,000 people reside within 5-miles of the property with average household incomes > $65,000/year
Attachments
Getting around
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Location
- City Independence, MO
- Neighborhood Randall
- Zip Code 64065
- Market Kansas City
Points of Interest
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Independence
3.67 miles
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Worlds of Fun Railroad Station
7.16 miles
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7-Eleven
0.43 miles
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QuikTrip
0.63 miles
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QuikTrip
1.52 miles
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Sinclair
2.83 miles
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Hy-Vee Gas
2.99 miles
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Casey's General Store
3.00 miles
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QuikTrip
3.21 miles
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Phillips 66
4.71 miles
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Conoco
4.73 miles
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Phillips 66
4.81 miles
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G
3.23 miles
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F
3.25 miles
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D
3.25 miles
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C
3.27 miles
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E
3.27 miles
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B
3.29 miles
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A
3.31 miles
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M
3.53 miles
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J
3.54 miles
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N
3.56 miles
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Ophelia's Restaurant & Inn
2.80 miles
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Serendipity Bed & Breakfast
3.13 miles
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Higher Ground Hotel
3.17 miles
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Residence Inn by Marriott Kansas City Independence
4.70 miles
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Best Western Independence Kansas City
4.75 miles
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Staybridge Suites
5.15 miles
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HomeTowne Studios by Red Roof
5.36 miles
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Super 8 by Wyndham Independence Kansas City
5.39 miles
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Truman Inn
5.40 miles
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Stoney Creek Hotel & Conference Center
5.48 miles
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Price Chopper
2.91 miles
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ALDI
2.94 miles
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Hy-Vee
3.05 miles
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Price Chopper
4.62 miles
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Walmart Neighborhood Market
4.65 miles
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Target
4.66 miles
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Kohl's
4.84 miles
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Ross
4.84 miles
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Marshalls
4.84 miles
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Walmart Supercenter
5.01 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
Contact Listing Broker
Steven Silverman
Friedman Real Estate
(248) 324-2000