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 sqft single-level brick building is being converted into 63 apartment units. The property includes a spacious on-site manager 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 three studio apartments, 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 two-bedroom units, six of which include two bathrooms. C-wing has nine one-bedroom, one-bath units and one two-bedroom, one-bath unit. The completion of these 17 units is estimated to generate approximately $13,000 per month while construction continues on the remaining wings. The building is well-known in the area, and the community is anticipating the transformation into apartments. The units feature white shaker cabinetry, stainless steel appliances, and granite countertops. A new road with over 50 parking spaces has been completed at the back of the property. Mount Joseph is situated on 6.83 acres on the edge of town next to Lost Creek, offering a serene setting. The current owner is selling the property as is, while construction continues. As more wings are completed, the listing price will increase. If 50% completion is reached, the property will be taken off the market.