30,036 Square Foot Multi-Family Space For Sale @ 1201 N 18th St

Property tours are available by appointment ONLY. Please contact Keiten Nuspl at 816-932-5531 or knuspl@blockllc.com. Investment Highlights 42-unit 3-building 3-story apartment complex Property is currently ±71% leased at an average of ±$8/PSF Value-add potential in ±91% occupancy submarket Fully renovated in 2015 Laundry facilities located in two buildings on basement level Google Fiber free and grandfathered to the property Fenced parking lot with ±45 stalls Property has a combination of studios, one bedrooms, and two bedrooms Investment Overview The 18th Street Plaza Apartments are a 42-unit multi-family complex located in the Kansas City, KS. The “Property” is located at 1201-1215 North 18th Street, and is made up of three 3-story brick and mason buildings with double paned windows. Built in 1930, and fully renovated in 2015, the complex includes two basement-level onsite laundry facilities, a fenced ±45-stall surface parking lot, and solid wood entries with security cameras. The Property contains studio, one, and two-bedroom units, each with a combination of wood, tile, and granite flooring, an electric oven/range combination, and refrigerator. All units are separately metered except for units 33-36 in building 1201, which are on one meter. In these units the landlord pays the electricity, which is then included in the rent. If the tenant exceeds the allowance added to their lease, they are billed back to pay the overage. Google Fiber is free and grandfathered to the property. The 18th Street Plaza Apartments are currently ±71% occupied, with an average rent of ±$8 per square foot. The average occupancy in the submarket is ±91%, which has remained fairly stable within the past five years. New owners will benefit from a recently renovated complex with stable occupancy and consistent cash flows in a strong-performing area. The Property is situated on the East side of North 18th Street in Kansas City, Kansas. It is bounded by two major streets, Washington Blvd to the North, and State Avenue to the South, which is one of the primary East-West arteries for the City. Additionally, Kansas has several major employers, such as the University of Kansas Hospital, General Motors, Cerner, Nebraska Furniture Mart and Associated Wholesale Grocers. Known as “The Heart of America”, the Greater Kansas City metropolitan area is prospering from a diverse economy and highly educated work force. Kansas City is an inviting area with a superb quality of life and sense of community which permeates the population of nearly two million. The area’s economy is recognized as one of the strongest and most diverse of midsize major cities in the United States, and its central location with easy access and superb infrastructure makes Kansas City a true leader in transportation. Kansas City is also a hotbed of entrepreneurial and small business activity with 99% of all local companies employing fewer than 250 people. This offering presents new owners with the incredible opportunity to operate a stable income-producing apartment complex, with value-add potential through the lease-up of the 11 vacant units at market rates.