Afton Apartments

The Afton Apartments is an incredible value-add opportunity in one of Kansas City’s most vibrant and walkable neighborhoods. The property has undergone significant renovations in the last few years with all new back staircases and a new TPO roof. The current owner has done a luxury renovation on one stack of four units turning huge 1 bed 1 baths into 2 bed 2 bath with a luxury finish and in unit laundry. The remaining 20 units can undergo this same luxury renovation to achieve an income upside of $630 per unit per month!

This location in Southmoreland is 2 blocks from a new streetcar stop and walkable to bars and restaurants. Rarely does such and incredible value add opportunity come up in this neighborhood. This property is stabilized now with incredible future upside in one of Kansas City’s most desirable neighborhoods. Do not miss the chance to add this to your portfolio!

Why we love it: Incredible walkable location with proven conversion to 2 bedroom 2 bath units with in unit laundry and incredible tenant demand. Capital expenses completed so any expenditures directly translate to higher rental income. On site parking is a huge feature in this neighborhood and tenants pay $50/mo for a spot.

The Challenge: 20 of 24 units require significant cosmetic updates to achieve market rents.

The Value-add Play: Convert one stack at a time to 2 bedroom 2 bath units and realize the income upside of $630/mo per unit. Rarely is there a delta this significant from unit upgrades and it is a proven strategy for this building.