Apartment Building with Section 8
For Sale
$2,500,000
6421 Manchester Ave, Kansas City, MO 64133
Garden-style community with regulated rents, on-site operations, resident amenities, and a mix of subsidized and LIHTC-only apartments.
Property Size124,088 SF
Days on Market20
Property Features for 6421 Manchester Ave
General Information
Standard status
Active
Size
124,088 SF
Property subtype
Multifamily
Occupancy
67%
Amenities
STARTING BID $2,500,000 | Park Highlands Apartments | 184 Units (HAP/LIHTC) | 67% Occupied | AUCTION OCTOBER 19-21
184-Unit Community Near Kansas City Core - Eight buildings span ±124,088 SF on 8.30 acres, with I-435 access and downtown 10 miles away.
Lease-Up Potential at 67.4% Occupancy - The 83 LIHTC-only apartments are 57.8% occupied, offering a clear path toward stabilization.
$1.19M Invested in Property Improvements - Seller upgrades from 2023–June 2026 include interiors, appliances, flooring, HVAC, and exteriors.
Section 8 Support Across 101 Apartments - HUD project-based rental assistance runs through November 2033; all 184 units carry LIHTC limits.
Potential HAP Income Not Captured - A budget-based HUD/MHDC rent increase is pending, adding upside beyond current income.
Community Amenities & On-Site Services - Residents have a gathering room, playground, laundry, picnic area, parking, and dedicated staff.
Building Details
Building Size
124,088 SF
Units
184
Listing Agency:
Marcus & Millichap - Fort Lauderdale
Listed By:
Adam Sklaver · License #License(s): FL: SL3429070
(954) 245-3422
Source:
Marcusmillichap
Added: Sep 16
Changed: Oct 3
Last Checked: Oct 5 at 3:10PM
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 Marcus & Millichap - Fort Lauderdale
Investment Insights
Based on property information with market context.
Park Highlands is a garden-style apartment community comprising 184 units across eight buildings totaling approximately 124,088 square feet on 8.30 acres. Constructed in 1982, the property includes a community room, playground, laundry facilities, picnic area, parking, and on-site management and maintenance. Interior and building-system upgrades completed from 2023 through June 2026 included appliances, flooring, HVAC, and exterior improvements.
All apartments are governed by a LIHTC Land Use Restriction Agreement limiting occupancy to households at or below 60% AMI. HUD Project-Based Section 8 assistance covers 101 units under a HAP contract extending through November 2033. Overall occupancy is 67.4%, with 75.2% occupancy among HAP-supported units and 57.8% across the 83 LIHTC-only residences. The community is located in Kansas City, Missouri, with access to I-435, Missouri Route 350, Swope Park, and the Blue Parkway retail corridor, approximately 10 miles from downtown.
All apartments are governed by a LIHTC Land Use Restriction Agreement limiting occupancy to households at or below 60% AMI. HUD Project-Based Section 8 assistance covers 101 units under a HAP contract extending through November 2033. Overall occupancy is 67.4%, with 75.2% occupancy among HAP-supported units and 57.8% across the 83 LIHTC-only residences. The community is located in Kansas City, Missouri, with access to I-435, Missouri Route 350, Swope Park, and the Blue Parkway retail corridor, approximately 10 miles from downtown.
Key Highlights
- 184‑unit garden‑style community across eight buildings
- 124,088 SF on 8.30 acres; built in 1982
- All 184 units subject to LIHTC restrictions at or below 60% AMI
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
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Business Placement
Demographics for 64133, MO
35,259
Population
16,435
Households
2.1
Avg Household Size
41
Median Age
23%
College-Educated
93%
High-School Grad
17.0 sq mi
ZIP Area
2,074
Density / Sq Mi
$66,816
Median Household Income
$40,874
Median Earnings
$1,185
Median Rent
$165,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Garden-style community with regulated rents, on-site operations, resident amenities, and a mix of subsidized and LIHTC-only apartments.
Where is this apartment building located?
The property is located at 6421 Manchester Ave Kansas City, MO.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 184‑unit garden‑style community across eight buildings; 124,088 SF on 8.30 acres; built in 1982; All 184 units subject to LIHTC restrictions at or below 60% AMI
