$860,000 Price Analysis    ♡   Kansas City, KS 66103 Unknown bed None bath unknown SqFt ($0/SqFt) 7,405SqFt lot. Built 1960 Listed 2024-01-17, Taxes $6,996 | Ⓧ USDA Ineligible due to price & location near Kansas City |
MAJOR PRICE REDUCTION 7 turnkey units.
100% Occupied! Minnie Ridge Apartments, next to KU Med. Exceptional investment opportunity in the heart of Kansas City, Kansas. Boasting seven units thoughtfully designed for comfort and convenience, this property offers a diverse unit mix of studio, 2BR/2BA and 2BR/1BA. The property is a turnkey investment, ready for you to purchase, manage and elevate rents to market rates, including the addition of a bill-back program. Exceptionally Low owner expenses. Completely rehabbed with upgraded electric and plumbing with in the last 10 years or so. Brand new roof in the last 7-10 years (paperwork available), water heaters less than 5 years old. Everything in the building is 10 years old or newer. Situated near the high-demand neighborhood of KU Med, this property's outstanding location is complemented by low owner expenses, efficiently managed through self-management currently.
The apartments feature central heating and cooling, washer and dryer in all units and essential amenities such as dishwashers (excluding studios). With recent renovations and ongoing maintenance, this property requires nothing more than rent optimization. Attracting a diverse tenant base of m ed students, researchers, doctors, nurses and professionals, Minnie Ridge Apartments is a lucrative opportunity for savvy investors. This will appreciate exceptionally well due to the exploding KU Med corridor as the hospital system continues to expand and reinvest. Lenders are standing by and want to lend on this asset (see supplements). The strategic loction, adjacent to the thriving 39th St entertainment district, underscores the fast-appreciating value of this investment. With easy access to major arteries, including I-35 and proximity to downtown, Westport and Country Club Plaza, Minnie Ridge Apartments offers both a quiet, vibrant community atmosphere and the potential for substantial returns.
Presented by Alex Olson at
XChangeCRE.
Property MLS #2469249 from KansasCity
Dryer
Refrigerator
Laundry Features: Inside, Utility Room
Heating Features: Central Electric, Forced Air Electric
Lot Size Square Feet: 7405
Parking Total: 14
Lease Term: One Year Lease
Unit Type: 2 Bedroom, Other Unit
Map directions Map directions Map directions Map directionsSource Listing Status: Active
County: Wyandotte
Directions: Off HWY 169 between W 42nd and 43rd Avenue. Property is at the corner of W 42nd and Minnie Street.
Source Property Type: Residential Income
Source Neighborhood: Lombard Pk Add
Parcel Number: 112410
Subdivision: Lombard Pk Add
Zoning: MF
Flood Plain: No
Property Subtype: Apartment Building
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $38,609 + $4,217 $42,826 | $6,996 |
| 2021 | $33,225 + $4,173 $37,398 | $6,219 |
| 2020 | $34,099 + $4,173 $38,272 | $6,366 |
| 2019 | $34,506 + $3,605 $38,111 | $6,336 |
| 2018 | $34,193 + $3,274 $37,467 | $6,199 |
| 2017 | $21,090 + $3,187 $24,277 | $4,037 |
| 2016 | $18,401 + $3,828 $22,229 | $3,728 |
| 2014 | $10,904 + $3,828 $14,732 | $2,423 |
| 2013 | $6,391 + $3,828 $10,219 | $1,780 |
| 2012 | $6,391 + $3,828 $10,219 | $1,745 |
$750
TurboTenant
Listing removed 2024-05-10
$0
TurboTenant
Listed for rent 2024-05-06
$750
TurboTenant
Listing removed 2024-05-01
$0
TurboTenant
Price Changed 2024-04-30
$860,000
KansasCity
Listing removed 2024-04-22
$0
TurboTenant
Listed for rent 2024-04-18
$1,050
TurboTenant
Listed for rent 2024-04-01
$750
TurboTenant
Price Changed 2024-02-13
$875,000
KansasCity
Listed 2024-01-17
$895,000
KansasCity
Listing removed 2021-07-16
$0
RentlinxUnits
Listed for rent 2021-07-09
$650
RentlinxUnits
Listing removed 2021-07-01
$0
RentlinxUnits
Listed for rent 2021-06-01
$650
RentlinxUnits
Listing removed 2020-12-21
$0
RentlinxUnits
Listed for rent 2020-11-21
$900
RentlinxUnits
Sold 2017-11-02
$0
Public Record
Listing removed 2017-09-15
$925
RentlinxUnits
Listed for rent 2017-09-14
$925
RentlinxUnits
Listing removed 2017-05-17
$900
RentlinxUnits
Listed for rent 2017-05-13
$900
RentlinxUnits
Listing removed 2017-04-29
$900
RentlinxUnits
Listed for rent 2017-04-25
$900
RentlinxUnits
Listing removed 2016-10-06
$850
RentlinxUnits
Listed for rent 2016-09-24
$850
RentlinxUnits
Listing removed 2016-09-24
$850
RentlinxUnits
Price Changed for rent 2016-09-17
$850
RentlinxUnits
Listed for rent 2016-09-12
$865
RentlinxUnits
Sold 2013-01-07
$0
Public Record
Listing removed 2010-05-20
$125,000
KansasCity
Relisted 2010-02-25
$125,000
KansasCity
Listing removed 2010-02-20
$125,000
KansasCity
Listed 2010-01-18
$125,000
KansasCity
Sold 2004-12-30
$0
Public Record
Sold 1999-03-01
$0
Public Record
Operating Expense Includes: Accounting, Advertising, All Utilities, Electricity, Exterminator, Legal, Maintenance, Permits, Property Insurance, Property Mgmt, Real Estate Tax, Refuse Collection, Sewer, Supplies, Water
Construction Materials: Brick & Frame, Metal Siding
Property Age: 64
Roof: Metal
Levels or Stories: 3
Year Built Details: 51-75 Years
Ind Heat And Air
Ind Water Heaters
Water Source: City/Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.