3102 51St Ter Kansas City, KS 66104
- Apartment buildings
- 12,600 SF
- 0.47 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3102 51St Ter
- Year built
- 1967
- Lot size
- 0.47 lot acres
- Property size
- 12,600 SF
- Property type
- Apartment buildings
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kansas City
- County
- Wyandotte
- State
- Kansas
- Longitude
- -94.6989
- Latitude
- 39.1433
