Luxury meets history at the Residences at 2800 in the thriving Pendleton Heights neighborhood. This six-unit residence was originally built in 1930 and extensively renovated in 2020. Each 2-bed/1-bath unit offers hardwood floors, stainless steel appliances, luxury finishes, central AC and incredible city lights view. The solid brick construction ensures lasting durability, complemented by a spacious dedicated parking lot and washer dryer in every unit for added convenience. Updated electrical and plumbing round out this fantastic investment just 2.5 miles from Kansas City’s thriving downtown. Mostly young professional tenant base enjoys the all electric building with low utility costs. New leases are being signed at $950/mo.
Why we love it: Luxury finish in all six units already and everything we look for in a multifamily rental – laundry, parking, and two bedrooms. Gut renovation, updated windows, and a new TPO roof keeps capital expenses low for years to come.
The challenge: The parking lot is currently unpaved.
The Value Add Play: Get all six rents up to market and consider a few medium-term rentals to further juice cash flow.