City View at St. Margaret’s | 759 Vermont Ave
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City View at St. Margaret’s 759 Vermont Ave
111 Unit Apartment Building $6,650,000 ($59,910/Unit) 6.39% Cap Rate Kansas City, KS 66101
Investment Highlights
- Upside Potential: The property benefits from the growing trend of seniors relocating to the Midwest, maintaining strong local awareness and high occup
Executive Summary
Highlights:
Upside Potential: The property benefits from the growing trend of seniors relocating to the Midwest, maintaining strong local awareness and high occupancy rate of 98% adding a great unit mix.
Renovation in 2013:
interior upgrades,
property including all-new copper plumbing, electrical, and 22-SEER HVAC systems.
New roof in 2022 Wind event pulled up the glued membrane, so all new with a suction/vent and mechanical attachments
New domestic hot water main line piping in ground floor
2 new high efficiency hot water domestic boilers
Misc appliance replacements and HVAC compressor/condenser updgrades
New roof in 2022: with mechanical attachments for added durability.
Recent upgrades: new domestic hot water main line, two high-efficiency hot water boilers, and appliance replacements.
Property Location:
The Riverview neighborhood offers a cozy atmosphere directly across the river from Kansas City, Missouri. Most of the community is covered by suburban homes, with a broad range of apartments and condos adding to the rental options.
Many of the city’s most popular restaurants can be found around Riverview, from the regional flavors served up at Gates Bar-B-Q and Slap’s BBQ to the diverse fare at hangouts like Tao Tao, Breit’s Stein and Deli, and Paleteria Tropicana.
3 miles from Starbucks
2.5 miles from Walmart Neighborhood Market
3 miles from The University of Kansas Hospital
5.8 miles from Target
5 miles from Saint Luke's Hospital of Kansas City
Upside Potential: The property benefits from the growing trend of seniors relocating to the Midwest, maintaining strong local awareness and high occupancy rate of 98% adding a great unit mix.
Renovation in 2013:
interior upgrades,
property including all-new copper plumbing, electrical, and 22-SEER HVAC systems.
New roof in 2022 Wind event pulled up the glued membrane, so all new with a suction/vent and mechanical attachments
New domestic hot water main line piping in ground floor
2 new high efficiency hot water domestic boilers
Misc appliance replacements and HVAC compressor/condenser updgrades
New roof in 2022: with mechanical attachments for added durability.
Recent upgrades: new domestic hot water main line, two high-efficiency hot water boilers, and appliance replacements.
Property Location:
The Riverview neighborhood offers a cozy atmosphere directly across the river from Kansas City, Missouri. Most of the community is covered by suburban homes, with a broad range of apartments and condos adding to the rental options.
Many of the city’s most popular restaurants can be found around Riverview, from the regional flavors served up at Gates Bar-B-Q and Slap’s BBQ to the diverse fare at hangouts like Tao Tao, Breit’s Stein and Deli, and Paleteria Tropicana.
3 miles from Starbucks
2.5 miles from Walmart Neighborhood Market
3 miles from The University of Kansas Hospital
5.8 miles from Target
5 miles from Saint Luke's Hospital of Kansas City
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,650,000 | Building Class | B |
| Price Per Unit | $59,910 | Lot Size | 2.33 AC |
| Sale Type | Investment | Building Size | 181,302 SF |
| Cap Rate | 6.39% | Average Occupancy | 90% |
| No. Units | 111 | No. Stories | 6 |
| Property Type | Multifamily | Year Built/Renovated | 1922/2013 |
| Property Subtype | Apartment | Parking Ratio | 2.25/1,000 SF |
| Apartment Style | Mid Rise |
| Price | $6,650,000 |
| Price Per Unit | $59,910 |
| Sale Type | Investment |
| Cap Rate | 6.39% |
| No. Units | 111 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 2.33 AC |
| Building Size | 181,302 SF |
| Average Occupancy | 90% |
| No. Stories | 6 |
| Year Built/Renovated | 1922/2013 |
| Parking Ratio | 2.25/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- High Speed Internet Access
- Wi-Fi
- Dining Room
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
- Roof Terrace
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 45 | - | 472 - 961 |
| 2+1 | 65 | - | 825 - 1,098 |
| 3+1 | 1 | - | 1,000 |
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PROPERTY TAXES
| Parcel Number | 122034 | Total Assessment | $447,810 |
| Land Assessment | $8,231 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $439,579 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
122034
Land Assessment
$8,231
Improvements Assessment
$439,579
Total Assessment
$447,810
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | KRP5 |
| KRP5 |
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City View at St. Margaret’s | 759 Vermont Ave
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