Flats at Metcalf

The Flats at Metcalf offers investors a rare opportunity to acquire a fully renovated, 20-unit multifamily community in the heart of Overland Park, Kansas—one of the most coveted submarkets in the Kansas City metropolitan area. Consisting of two adjacent buildings with a desirable unit mix of 60% two-bedroom and 40% one-bedroom layouts, the property combines functional design with tenant-friendly amenities such as private balconies, ample on-site parking, and a landlord-owned coin-operated laundry facility in each basement. Each of the 20 units has been thoughtfully upgraded within the last five years, featuring modern finishes, open-concept living spaces with abundant natural light, and generous closets that appeal to today’s renters.

Operationally, the Flats at Metcalf provides an efficient, low-maintenance investment profile. All units are separately metered, with tenants responsible for electric and gas while water and trash are offset with a utility fee. The property
has benefited from substantial capital improvements including new electrical panels, TPO roof, and new HVAC systems. Located within the A+ rated Shawnee Mission School District and surrounded by top-tier retail, dining, and employment centers, the asset draws from a deep and stable tenant base. The combination of high occupancy, recent renovations, and an exceptional location positions the property as a strong income-producing investment from day one.

Beyond its current stability, the Flats at Metcalf offers clear avenues for future growth and value creation. With market rents continuing to rise in Overland Park, investors can capture meaningful upside as leases renew. Additionally, the absence of restrictions on short- or medium-term rentals allows for flexible operational strategies that can further enhance returns. As an irreplaceable asset in one of Kansas City’s premier suburban markets, the Flats at Metcalf represents the perfect balance of immediate cash flow, long-term appreciation potential, and enduring tenant demand.

Why we love it: This property has everything we look that drives strong tenant demand – laundry, parking, and a second bedroom in 60% of the units. The property is in the A+ Shawnee Mission School district, has 100% renovated units and 100% occupancy, and is in an incredible central location of Overland Park.

The Challenge: Irreplaceable assets in prime locations don’t come cheap! Lower your expectations for cash flow and count on high appreciation upon eventual exit.

The Value-add Play: As leases renew, get everyone up to market rent, and consider adding some short or medium-term rentals. There are currently no regulations preventing short-term rentals in Overland Park.