Manor Ridge

Manor Ridge offers a compelling investment opportunity with its 49-unit portfolio across three buildings on separate parcels, centered around a convenient shared parking lot. Comprising of 43 one-bedroom, 2 two-bedroom, and 2 studio units, this property features sleek hardwood floors in living areas, carpeted bedrooms, and modern appliances—including stainless steel in many units—for a modern feel. All HVAC systems were replaced in 2020-2021, new doors installed in 2023, and the parking lot, roof, and brick exterior remain in excellent condition. On-site laundry facilities and secured entry enhance tenant satisfaction, while tenants pay gas and electric, with landlord covering water/sewer and trash via a $50/month utility fee.

At 93% occupancy with only a couple of vacancies, Manor Ridge provides immediate cash flow and the opportunity for a new owner to select their preferred tenants. Nestled in a vibrant Independence submarket near top-rated schools such as William Chrisman High School and Truman High School, major employers like the VA Medical Center, hospitals including Centerpoint Medical Center, and attractions like the Harry S. Truman Library & Museum, Bingham-Waggoner Estate, McCoy Park, and Independence Center shopping mall, this property taps into strong rental demand from professionals and families.

Why we love it: Near-full occupancy with recent major upgrades like HVAC and doors ensures low capex and steady cash flow. The high one-bedroom mix suits urban professionals near key employers and attractions.

The Challenge: Predominantly one-bedroom units may limit family appeal, but perfect for single working professionals in the area.

The Value-add Play: Lease the two vacant units at market rates to reach 100% occupancy. Perform light cosmetic updates to renovated units for $100-200/month rent premiums, boosting overall income.