Turnkey 22-Unit Apartment
1302 South 32nd Street Kansas City, KS 66106
1302 South 32nd Street, Kansas City, KS, 66106
$2,300,000
For Sale
$2,300,000
Cash-flowing 22-unit apartment building with recent renovations in Kansas City.
Property Size19,320 SF
Price / SF$119.05
Days on Market240
Property Features for 1302 South 32nd Street
General Information
- Standard status
- Active
- Size
- 19,320 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1971
Listing Agency
SVN | Encompass Commercial LLC
(816) 215-1100
Listed by
C. Sterling Scott, CCIM · License #MO #1999021979
(816) 215-1100
Source
Svn
Added: Nov 21, 2025 Checked: Jul 17 at 5:58 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN | Encompass Commercial LLC
Investment Insights
Based on property information with market context.
Oak Tree Flats presents an opportunity to acquire a turnkey 22-unit apartment building. This property is suited for investors seeking a cash-flowing asset with potential for value enhancement through operational efficiencies and lease adjustments. The property benefits from recent renovations, mitigating immediate capital expenditure risks. The apartment building offers quiet apartment living, backing up to a residential neighborhood. Its location provides convenient access to various parts of the city via major highways. Situated in the Argentine submarket, it is located just north of Overland Park and west of Downtown Kansas City. The property features spacious floor plans, a newer roof, and updated mechanical systems. The property size is 19,320 square feet and has proven rents.
Key Highlights
- Turnkey 22‑unit property providing immediate cash flow.
- Recently remodeled, mitigating CapEx risk.
- Newer roof and mechanicals.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $313.0k | $16.20 |
| − Vacancy | −$20.3k | −$1.05 |
| EGI | $292.6k | $15.15 |
| − OpEx | −$131.7k | −$6.82 |
| NOI | $161.0k | $8.33 |
19,320 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.01M – $2.68M
NOI $160,952 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.20M
$2.80M – $3.73M
NOI $224,054 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
OakTree Flats
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Cash-flowing 22-unit apartment building with recent renovations in Kansas City.
Where is this apartment building located?
The property is located at 1302 South 32nd Street Kansas City, KS.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Turnkey 22‑unit property providing immediate cash flow.; Recently remodeled, mitigating CapEx risk.; Newer roof and mechanicals.
