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    3102 51St Ter Kansas City, KS 66104

    Sponsored
    For Sale
    $1,800,000

    18-Unit Apartment Building, High Occupancy

    Property size:
    12,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    396
    This exceptional 18-unit apartment building presents a compelling investment opportunity in Kansas City, KS. The property, situated on a 0.47-acre lot at 3102 N 51st Terrace, boasts 12,600 square feet and is a two-story Class B building constructed in 1967, extensively renovated in 2021. The renovation included a new roof, stairs, and decking, enhancing both curb appeal and longevity. The building currently enjoys a 90% occupancy rate, with a unit mix of fourteen two-bedroom and four one-bedroom apartments, each featuring a washer/dryer. The property's zoning is KRP3. Located near I-635, this prime location offers convenient access to major thoroughfares, schools (elementary, middle, and high schools are nearby), and popular attractions including the Legends Shopping District, NASCAR, Children's Mercy Soccer Complex, and downtown Kansas City. The asking price is $1,800,000, translating to $100,000 per unit and $142.86 per square foot. This stabilized investment offers strong potential for future growth and return, making it an attractive proposition for discerning investors. The property's strong occupancy and recent upgrades contribute to its immediate cash flow potential. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving Kansas City market.

    Property Features for 3102 51St Ter

    General Information

    Property type
    Multifamily properties
    Square Feet
    12,600 SF
    Class
    B
    Lot Size
    20,473 SF

    Building Details

    Year Built/Renovated
    1967/2021
    Buildings
    1
    Stories
    2
    Units
    18

    HighLights

    • $1,800,000 asking price for an 18‑unit apartment building.
    • 12,600 square feet, 18 units (14 two‑bedroom, 4 one‑bedroom), 90% occupancy.
    • Built in 1967, renovated in 2021 (roof, stairs, decking).
    • Located in Kansas City, KS (66104), 0.47‑acre lot, KRP3 zoning.
    • Excellent location near schools and major roadways, offering strong rental demand.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Wyandotte
    State
    Kansas
    Longitude
    -94.6989408
    Latitude
    39.1432795

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    FAQs

    What type of property is this?
    Multifamily property - 18-Unit Apartment Building, High Occupancy
    Where is this multifamily property located?
    The property is located at 3102 51St Ter Kansas City, KS.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: $1,800,000 asking price for an 18-unit apartment building.; 12,600 square feet, 18 units (14 two-bedroom, 4 one-bedroom), 90% occupancy.; Built in 1967, renovated in 2021 (roof, stairs, decking).
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3102 51St Ter Kansas City, KS 66104
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