8705 63Rd St Kansas City, MO 64133
- Commercial real estate
- 0.63 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 8705 63Rd St
- Year built
- 1952
- Lot size
- 0.63 lot acres
- Property type
- Commercial real estate
Description
This exceptional 10-unit apartment building presents a compelling value-add opportunity in Kansas City, Missouri. Completely renovated in 2023, this turnkey property boasts a 95% occupancy rate and generates a strong 8.2% cap rate based on a gross income of $96,000 and operating expenses of $17,000. Each of the ten units features a mini-split heat pump, luxury vinyl flooring, a full bathroom, and a small kitchen setup. The building also includes a new R-13 fire suppression system and all exterior water lines have been replaced with 4" lines. Situated on a 0.63-acre lot zoned BC3-2, this property offers significant potential for future expansion in residential, commercial, or multi-family uses. Its prime location is directly on a bus route and across from a QuickTrip, Dollar General, grocery store, gym, Goodwill, and coffee shop, ensuring high tenant demand. The property can be delivered vacant or fully rented at $8,000 per month. Built in 1952, this two-story building offers a unique layout ideal for various uses, including sober living homes or group homes. Financing options include cash, conventional, lease purchase, and owner financing. All utilities, property insurance, and real estate taxes are included in operating expenses. The asking price is $700,000, representing a price per unit of $70,000. Detailed photos and a video walkthrough are available.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kansas City
- County
- Jackson
- State
- Missouri
- Longitude
- -94.4839796
- Latitude
- 39.0093319
