1110 w 11Th St 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 sqft single-level brick building is being converted into 63 apartment units. The units include a spacious on-site manager unit, gym, rec center, 3 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 a potential gross income of $45,000 per month. Currently, two wings are nearing completion. A-wing features seven 2-bedroom units, six of which include two bathrooms. C-wing has nine 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit. Upon completion, estimated in 60 days, these 17 units are projected to generate approximately $13,000 per month while construction continues on the remaining wings. The building has a brick exterior and will feature 63 new units with white shaker cabinetry, stainless appliances, and granite countertops. A new road has been completed along the back of the property, providing 50+ new parking spaces. Mount Joseph sits on 6.83 acres next to Lost Creek. The current owner is selling as is, while construction continues. As more wings are completed, the listing price will increase accordingly. If 50% completion is reached, the property will be taken off the market. The owner is open to seller financing.