The Concourse is located on the northernmost end of Gladstone Boulevard, Kansas City’s original Boulevard completed in the Spring of 1897. The who’s who of Kansas City lived along it and many of their mansions still stand today.
This stately six unit 6,150 SF building boasts spacious one-bedroom units, offering the potential for easy conversion into two bedrooms units. All building capital expenses have been completed – with a new roof, six brand new central HVAC systems, and brand new electrical and plumbing. The only thing remaining for the new owner is to finish of the units to their liking and lease up the building.
The Value Add Play: Convert units from one bedrooms to two bedrooms, add in-unit laundry, and finish with a luxury finish that preserves and accentuates original details. Units rent in this are for a significant premium with these upgrades.
Why We Love It: Own a piece of Kansas City history along Gladstone Blvd. It does not get better than this location.
Property Challenges: All units needs various level of cosmetic finish prior to lease up.