The Melrose Apartments

Own a fantastic rental property in the charming Historic Northeast with The Melrose Apartments, two six-unit buildings featuring solid brick construction and original details beloved by today’s urban renters. Originally built in 1916 and well maintained through the years, these buildings offer 100% large 1-bed/1-bath floorplans with functional layouts and beautiful hardwood floors. Most units havebeen refreshed or renovated in the last five years.

Investment dollars are pouring into this growing area, with the prestigious Kansas City University of Medical Biosciences just down the street, alongside new commercial construction, dining, and two new coffee shops. While young professionals are often priced out of downtown Kansas City, Historic Northeast provides an affordable urban alternative. The Melrose Apartments delivers a stabilized asset in an appreciating submarket with great potential for income growth!

Why we love it: Solid in-place rents with income upside. Great price point in an incredible location within the historic northeast.

The Challenge: Units will always be (large) 1-bed/1-bath with no off-street parking.

The Value-add Play: Consider pivoting the market-rate tenant base into a voucher tenant base to achieve significant income upside. There is also a perfect spot for on-site laundry in the 104-106 building basement, already hook-ups just no machines; adding laundry would add additional income and be a great tenant amenity.