Prospect Crossing Apartments

  • $1,075,000
Featured Sold
1010-1020 Prospect Avenue, Kansas City, Missouri, 64127
  • Apartment
  • Property Type
  • 14
  • Rooms
  • 8,220
  • Sq Ft
  • 1921
  • Year Built
Featured Sold

Prospect Crossing Apartments

1010-1020 Prospect Avenue, Kansas City, Missouri, 64127
  • $1,075,000

Overview

  • Apartment
  • Property Type
  • 14
  • Rooms
  • 8,220
  • Sq Ft
  • 1921
  • Year Built

Description

Introducing Prospect Crossing Apartments, a remarkable opportunity for savvy investors! This property consists of two building totaling 8,220 SF with 7 units in each of the buildings. Tenants will enjoy the gated parking in-between the buildings, which holds almost 2x Cars/Unit. The 14 fully renovated units offer comfort and convenience with their spacious units, in-unit washer/dryer & luxury finishes including stainless steel appliances. This property offers investors of guaranteed mixed opportunity with 9 voucher & 4 market rate tenants with one unit currently vacant, awaiting a new tenant. The central location to Kansas City, ensures tenants can enjoy the shopping, restaurants & public transportation. Act now and seize the chance to own Prospect Crossing Apartments!

The Value Add Play: Owners can create great upside by moving to all voucher tenants or change to market rent and pass off all utilities. Improving occupancy by leasing the final unit. Realized higher rents as the area becomes more desirable & charge tenants for parking.

Why We Love It: All the elements of desirable rentals in Kansas City. All 2 bed units, gated parking, in-unit laundry and solid in-place cash-flow.

Property Challenges: Turnkey cashflow play doesn’t work for every investor.

  • Address 1010-1020 Prospect Avenue, Kansas City, Missouri
  • City Kansas City
  • State/county Missouri
  • Zip/Postal Code 64127
  • Country United States

Details

Updated on February 6, 2024 at 4:00 pm
  • Price: $1,075,000
  • Property Size: 8,220 Sq Ft
  • Rooms: 14
  • Bathroom: Built In 1921
  • Garages: 14 Units
  • Year Built: 1921
  • Property Type: Apartment
  • Property Status: Sold

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Michelle Lutz
  • Michelle Lutz