1110 w 11Th St Concordia, KS 66901

The Mount Joseph Apartments project in Concordia, Kansas, is a real estate investment opportunity. Formerly Mount Joseph Senior Village, this 54,000 sqft single-level brick building is being converted to 63 apartment units. The units include a spacious on-site manager unit, gym, rec center, 3 coin-op laundry rooms, and a large courtyard for outdoor games, BBQs, and other social gatherings. When fully completed, Mount Joseph Apartments will have 3 studios, 38 one-bedroom units, and 22 two-bedroom units, with a gross income of $45,000 per month. Currently, two wings are close to completion. A-wing has seven 2-bedroom units, six of which are 2-bedroom 2-bath units. C-wing has nine 1-bedroom 1-bath units and a 2-bedroom 1-bath unit. Upon completion, estimated in 60 days, these 17 units will begin generating income of approximately $13,000 per month while construction continues on other wings. The building is well-known in the area, and the entire community is excited about the transformation to apartments. The units feature a brick exterior with 63 brand new units with white shaker cabinetry, stainless appliances, and granite countertops. These units will be the newest in town. A new road along the back of the property with 50+ new parking spaces was just completed. Mount Joseph sits on 6.83 acres nestled on the edge of town next to Lost Creek, which provides a serene and picturesque setting. The current owner is selling as is, however construction continues. As more wings are completed, the listing price will be increased accordingly. If 50% completion is reached, the property will be taken off market permanently.