516 Splitlog Ave Kansas City, KS 66101
- Apartment buildings
- 31,131 SF
Current Use by Public Records
- Peniz View Apartments / Apartment Building
- City View at Splitlog / Apartment Complex
Property Details for 516 Splitlog Ave
- Property size
- 31,131 SF
- Property type
- Apartment buildings
Description
This exceptional 29-unit apartment building in Kansas City, KS's Strawberry Hill neighborhood presents a compelling value-add investment opportunity. Located at 516 Splitlog Ave, 66101, this fully renovated property boasts 31,131 square feet and offers a mix of one- and two-bedroom units, each featuring modern amenities such as granite countertops, stainless steel appliances, real hardwood floors, and in-unit washer/dryer hookups. All units include private balconies or patios. With a current asking price of $4,150,000 ($143,103 per unit and $133.31 per square foot), this property offers a 6.00% cap rate and a net operating income (NOI) of $249,206. Currently 100% leased, the property benefits from its convenient location, offering direct highway access and free off-street parking. The strong local demand, reflected in a 3.5% vacancy rate (significantly below the Kansas City metro average), and the potential for rental growth make this a highly attractive investment. The property is situated minutes from downtown Kansas City, providing tenants with easy access to employment centers and urban amenities. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kansas City
- County
- Wyandotte
- State
- Kansas
- Longitude
- -94.6222
- Latitude
- 39.1093
