108 Hargis St, Belton, MO 64012

Property Details for 108 Hargis St

Year built

1970

Lot size

1.90 lot acres

Property type

Apartment buildings

Description

This exceptional 80-unit apartment community in Belton, Missouri presents a compelling investment opportunity. Built in 1970 and extensively renovated in 2018, the property boasts 10 two-story buildings situated on 1.9 acres. The renovation included significant exterior upgrades such as new siding, roofs, balconies, and windows. Interior renovations, completed in approximately 70% of the units, feature updated countertops, cabinets, flooring, carpeting, bathroom vanities, and appliances. All units now include in-unit washers and dryers. The unit mix comprises four one-bedroom/one-bathroom, seventy-three two-bedroom/one-bathroom, and three two-bedroom/one-and-a-half-bathroom units, averaging 605 square feet. The property offers attractive common area amenities including a playground and grilling area. Conveniently located near major retail centers, highways 58 and 49, and significant employers like Southview Commerce Center and QuikTrip Distribution Center, Belton Crossing benefits from strong tenant demand and rental growth potential. Current average rent is $857 per unit, with market rents averaging $1,277, indicating substantial upside. Further revenue enhancement opportunities exist through the implementation of existing trash and renter's insurance fees across all units, and the full utilization of the RUBS water billing program. The property's location in a rapidly growing community, with significant recent apartment construction, underscores its long-term investment potential. The total net rentable square footage is 48,412 square feet. The asking price is $7,200,000, representing a price per unit of $90,000.

Location Insight

City

Belton

County

Cass

State

Missouri

Longitude

-94.5329

Latitude

38.8161