1110 w 11th Concordia, KS 66901

The Mount Joseph Apartments project in Concordia, Kansas, presents a real estate investment opportunity. Formerly Mount Joseph Senior Village, this 54,000 square foot single-level brick building is being converted into 63 apartment units. The units will include a spacious on-site manager's unit, a gym, a recreation center, three coin-operated laundry rooms, and a large courtyard suitable for outdoor games and social gatherings. Upon completion, Mount Joseph Apartments will consist of 3 studios, 38 one-bedroom units, and 22 two-bedroom units, with an anticipated gross income of $45,000 per month. Currently, two wings are nearing completion. A-wing features seven two-bedroom units, six of which include two bathrooms. C-wing has nine one-bedroom, one-bathroom units and one two-bedroom, one-bathroom unit. Upon the estimated completion in 60 days, these 17 units are projected to generate approximately $13,000 per month while construction continues on the remaining wings. The property sits on 6.83 acres on the edge of town next to Lost Creek. A new road has been completed along the back of the property, providing over 50 new parking spaces. The building has a brick exterior and will feature 63 new units with white shaker cabinetry, stainless appliances, and granite countertops. The owner is open to seller financing. The property is being sold as is, with construction ongoing. As more wings are completed, the listing price will increase accordingly. If 50% completion is reached, the property will be taken off the market permanently.