SunCrest Apartments | 9805 E 61st St
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SunCrest Apartments 9805 E 61st St
120 Unit Apartment Building For Sale Kansas City, MO 64133
Investment Highlights
- 120 Units, unit mix includes 1 and 2 bed units
- Recently upgraded and Individually metered electricity/gas utilities to all units
- Major Capex completed over last 3 years covering 80% of unit
- Value-add opportunity in completed capex and stabilizing
Executive Summary
Recent renovations have been undertaken on 80% of the property, providing the new owner with a substantial buffer against future capital expenditure expenses. The new owner will find the opportunity to realize value add potential by finalizing the remaining renovations and stabilizing the property. Currently, lease-up efforts are underway following the completion of renovations, with an impressive average rent of $817 per unit and potential for further growth.
The property boasts a well-balanced mix of 2-bedroom and 1-bedroom units, featuring four distinct floor plans that cater to a diverse tenant base. Although currently unused, the existing on-site pool and outdoor community space offer the potential for additional amenities, enhancing tenant attraction and potential rental increases compared to neighboring communities. This opportunity is ideal for a new owner looking to secure a long-term hold strategy with a great basis.
The property boasts a well-balanced mix of 2-bedroom and 1-bedroom units, featuring four distinct floor plans that cater to a diverse tenant base. Although currently unused, the existing on-site pool and outdoor community space offer the potential for additional amenities, enhancing tenant attraction and potential rental increases compared to neighboring communities. This opportunity is ideal for a new owner looking to secure a long-term hold strategy with a great basis.
Property Facts
| Sale Type | Investment | Building Size | 119,628 SF |
| No. Units | 120 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1973/2022 |
| Apartment Style | Garden | Parking Ratio | 1.34/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 4.18 AC |
| Sale Type | Investment |
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.18 AC |
| Building Size | 119,628 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built/Renovated | 1973/2022 |
| Parking Ratio | 1.34/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Refrigerator
- Range
- Wheelchair Accessible (Rooms)
Site Amenities
- Laundry Facilities
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $440,295 | |
| Land Assessment | $220,399 | Total Assessment | $660,694 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$220,399
Improvements Assessment
$440,295
Total Assessment
$660,694
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SunCrest Apartments | 9805 E 61st St
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