Scarritt Pointe Apartments

100-110 N Indiana Ave, Kansas City, MO 64123

Units: 18
Price: $1,200,000
Year built: 1916

DESCRIPTION

Own a fantastic rental property in the booming historic Northeast. Three six-unit buildings in a row with solid brick construction and original touches so popular with today’s urban renters. About half of the units have been nicely renovated, and the remaining units are occupied as is and need a light remodel. Units feature a one-bedroom, one-bathroom functional floorplan with original hardwoods.

Investment dollars are pouring into this growing area. The prestigious Kansas City University of Medical Biosciences is just down the street in addition to dining, new commercial construction, and two new hip coffee shops.

While young professionals are often priced out of downtown Kansas City, the historic northeast offers an affordable alternative for the urban lifestyle. The Scarritt Pointe Apartments offers investors the opportunity to acquire a stabilized asset in an appreciating area of the Kansas City metro while still enjoying the great potential for income upside.

Why we love it: Solid in-place rents with nice rental upside. Capital expenses already taken care of by current seller. Great price in a great neighborhood.

The challenge:  Units will always be 1 bedroom 1 bathroom and no off-street parking.

Buyer Detail and Financials

GALLERY

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