Comprised of 12 spacious true one bed/one bath 500 sq foot units. Separate kitchen and living areas with a small eat-in kitchen. Central AC and heat. Laundry is located in the basement, along with a clean dedicated locked storage unit for each tenant. Common hallways have all been modernized with new carpet and paint, and all units have updated drywall construction and no plaster.
Three-story all brick construction with a dedicated parking lot in the back which can be easily gated if desired. This building has ALL utilities separately metered, even the water. The owner is responsible only for trash, common electric and gas, and insurance. The entire building is wired for Google Fiber. The one bed/one bath units are highly desirable in this neighborhood as it is located less than a mile away from area hot spots like UMKC and KC Art Institute.
Why we love it: Only cosmetic renovation on a building is a great dream, it’s often not possible in Hyde Park, but for this one, it is. Separate meters for water are incredible as Jackson County water is expensive. Dedicated parking, laundry on-site, and the ability to add in-unit laundry. Putting some units into short or medium-term rentals would push cash flow to amazing high returns.
The challenge: While each unit is rent-ready, cosmetic updates to each unit are required to achieve the highest area rental rates.Buyer Detail and Financials