City View at Splitlog | 512-516 Splitlog Ave
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City View at Splitlog 512-516 Splitlog Ave
28 Unit Apartment Building $3,995,000 ($142,679/Unit) 5.99% Cap Rate Kansas City, KS 66101
Investment Highlights
- Newly Renovated: All of City View at Splitlog’s units have been newly renovated.
- City View at Splitlog is currently 100% leased. New leases are being leased at the increased rental rates (1 BD - $1,100 / 2 BD $1,225).
- With a current vacancy rate of just 3.5% in the area—well below market averages—demand for rental units remains high.
- Desirable Location: City View at Splitlog is located in the heart of the Strawberry Hill neighborhood, minutes from downtown Kansas City.
- New ownership will have the opportunity to increase rates as they have not been increased in 2 years.
Executive Summary
NAI Heartland is pleased to present City View at Splitlog, a newly renovated apartment building in the heart of Kansas City’s Strawberry Hill Neighborhood and just minutes from downtown Kansas City. The eclectic building offers a blend of comfort, livability and convenience with newly renovated units, balconies on every unit, and unforgettable views of Downtown.
City View at Splitlog is a 31,131 SF building comprised of a mix of comfortable one and two bedroom floor plans totaling 29 units. Units feature white cabinets, granite counter tops, stainless steel appliances, real hardwood floors, brand new bathrooms, washer and dryer hookups, and private balconies or patios. Rents start at $1,100 per month. The building benefits from unbeatable highway access, accessibility to downtown Kansas City, and free off-street parking.
City View at Splitlog is located in the Strawberry Hill neighborhood, a quaintly historic, yet thriving neighborhood situated minutes from downtown Kansas City. Originally established by European immigrants from all descents, the area is now home to an eclectic mix of local restaurants, bars, businesses and shops. With the perfect mix of historic culture and new, vibrant energy Strawberry Hill is an attractive area that draws young professionals and families.
City View at Splitlog is a 31,131 SF building comprised of a mix of comfortable one and two bedroom floor plans totaling 29 units. Units feature white cabinets, granite counter tops, stainless steel appliances, real hardwood floors, brand new bathrooms, washer and dryer hookups, and private balconies or patios. Rents start at $1,100 per month. The building benefits from unbeatable highway access, accessibility to downtown Kansas City, and free off-street parking.
City View at Splitlog is located in the Strawberry Hill neighborhood, a quaintly historic, yet thriving neighborhood situated minutes from downtown Kansas City. Originally established by European immigrants from all descents, the area is now home to an eclectic mix of local restaurants, bars, businesses and shops. With the perfect mix of historic culture and new, vibrant energy Strawberry Hill is an attractive area that draws young professionals and families.
Property Facts
| Price | $3,995,000 | Apartment Style | Low Rise |
| Price Per Unit | $142,679 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Cap Rate | 5.99% | Building Size | 31,131 SF |
| No. Units | 28 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1963/2023 |
| Property Subtype | Apartment | Parking Ratio | 0.96/1,000 SF |
| Price | $3,995,000 |
| Price Per Unit | $142,679 |
| Sale Type | Investment |
| Cap Rate | 5.99% |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.68 AC |
| Building Size | 31,131 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1963/2023 |
| Parking Ratio | 0.96/1,000 SF |
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Patio
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 575 |
| 2+1 | 18 | - | 900 |
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Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 904333 | Improvements Assessment | $218,086 |
| Land Assessment | $6,555 | Total Assessment | $224,641 |
PROPERTY TAXES
Parcel Number
904333
Land Assessment
$6,555
Improvements Assessment
$218,086
Total Assessment
$224,641
zoning
| Zoning Code | KRP5 |
| KRP5 |
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NAI Heartland
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City View at Splitlog | 512-516 Splitlog Ave
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