The Gardens on 31st

The Gardens on 31^st consists of two 1970s construction buildings totaling 19,574 SF. The Gardens contains a desirable unit mix of 16 2 bed/2 bath units, two 2 bed/1 bath units & nine 1 bed/1 bath units. The residents enjoy the spacious floorplans & convenient on-site laundry. Dedicated parking spots with an automatic gate & keypad is also a huge plus for tenants as carports protect cars from the elements. While working folks and young professionals are often priced out of downtown Kansas City, this central Kansas City, KS location offers an affordable alternative.

The Value Add Play: Renovate the remaining units to achieve a 175/mo + upside on renovations. Easily improve building façade to get rents even higher.

Why We Love It: Gated parking, many large 2/2 units with balconies, and proven rent upside with just cosmetic upgrades. So much CapEx aleady completed. This property just needs a steady, experienced property management hand to increase operational efficiency and increase NOI.

Property Challenges: KCK is a C/C+ submarket and this building is in a nicer quiet pocket of KCK.  Although rehab is well on its way, 16 of the 27 of units still need cosmetic rehab to