Gotham Apartments

Discover the dynamic neighborhood surrounding Gotham Apartments, nestled in the heart of Kansas City, MO. This diverse area offers a blend of historic charm and modern attractions, with easy access to entertainment, dining, and cultural hotspots. Residents can explore the vibrant jazz scene, renowned barbecue restaurants, and thriving arts district that Kansas City is celebrated for. The area's proximity to notable landmarks such as the Negro Leagues Baseball Museum and the 18th & Vine Historic Jazz District provides an enriching cultural experience. With its prime location and urban allure, Gotham Apartments presents an appealing opportunity for multifamily/mid-rise investors looking for a dynamic community with unique character.PREA is marketing the GP Interest of a 105-unit Project-Based Section 8 community located on the southeast side of Kansas City, MO, in close vicinity to downtown and Country Club Plaza. Gotham Apartments, AKA Linwood Apartments LP, was renovated with low-income housing tax credits in 2017. The attractive 40-year HUD loan that would be assumed as part of this transaction matures in 2059 and bears a 3.95% interest rate, providing debt-service comfort. The in-place Option 3 HAP Contract rents provide further security. This offering provides an investor the ability to acquire the GP interest of a well stabilized asset that was recently fully renovated with little financial unknowns. Investor and lender approvals will be required as part of the sale.