Price Reduction
Address
4033 Oak Street, Kansas City, MO
Price
$ 1,736,000
Property Attributes
- MLS#2483405
- TypeMulti-Family
- CountyJACKSON
- CityKansas City
- Area202 - Kansas City Area
- NeighborhoodSouthmoreland
- Zip64111
- Style
- Year Built1960
- Taxes$ 13810
- Price$ 1,736,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size12,880 SqFt
Data Source:
Heartland MLS (HMLS)
Property Description
Well-maintained 14-unit garden style apartment complex just south of the Plexpod in a historic Southmoreland neighborhood. Stands 3-stories with updated balconies, newer exterior paint and parking lot at the rear providing tenants 10 off-street spaces (recently sealed). The 14 units consists of studios (1), one-bedroom units (2), two-bedroom units (9) and three-bedroom units (2). The property’s location is anchored by the Arts District as well as universities, hospitals, local shops/restaurants and businesses. It is well positioned to take advantage of its location next to multiple stops on Main (39th, 43rd, & 45th) of the KC Streetcar extension line. Over the last 10 years, ownership has completed capital expenditures including decks/railings, new sliding glass doors and vinyl windows, updated landscaping, siding repairs, gutter and fascia repairs, concrete flatwork and updates to appliances and counter surfaces (select units). All units at the property have central air, spacious floorplans, Google Fiber, ample closet space, fully equipped kitchens, LVT flooring and carpet in bedrooms. A secured designated laundry room is offered to tenants with coin-operated machines on a month-to-month Jetz lease. The building is separately metered for gas and electric (tenant paid) and has common water and trash (landlord paid). The building is partially broker owned and has 3rd party management in place. At the start of April, owner implemented a water savings program/equipment to help reduce water expenses. The asset is appealing to both the stabilized and value-add investor. Buyers could continue to manage property as-is with small incremental improvements or look to carry out enhanced make-readies on kitchens/baths and add laundry to units with RUBS implemented to maximize rents. Buyer’s looking for greater scale can package this property with 4505 Jarboe (MLS:2483418), a 12-unit complex in West Plaza owned/operated by the same partnership.
| Price History | |
|---|---|
| 4/16/2024 | Listed $1,820,000 |
| 5/9/2024 | 5% - $1,736,000 |
General Features
| Sewer | City/Public |
|---|---|
| Heating | Forced Air |
| Cooling | Electric |
| Utilities | Cent Water Heater,Separate Meters |
| Roof | Composition |
| Zoning | R-2.5 |
| Construction Materials | Brick Veneer,Wood Siding |
| Year Built | 1960 |
| Property SubType | Apartment |
| Assoc Fee Paid Per | None |
| County | Jackson |
| Property Type | Residential Income |
| HOA / Comm Assn | No |
| Subdivision Name | Southmoreland |
| Garage Y/N | No |
| Status | Active |
| Directions | From Main Street head east on 41st. Turn left on Oak St (one-way). Building will be on east side of street. |
| City | Kansas City |
| High School District | Kansas City Mo |
| Total Units | 14 |
| MLS Area | 202 - Kansas City Area (So. of River) |
| Lot Size Square Feet | 12880 |
| Street Name | Oak |
| Listing Terms | Cash,Conventional,1031 Exchange |
| Public Remarks | Well-maintained 14-unit garden style apartment complex just south of the Plexpod in a historic Southmoreland neighborhood. Stands 3-stories with updated balconies,newer exterior paint and parking lot |
| Virtual Tour | https://media.clappphotographyrealestate.com/videos/018e9b40-dd3d-70e9-8ec2-68ae26d94486 |
| Standard Status | Active |
| In Flood Plain | No |
| HMS_MaintenanceProvidedYN | No |
Interior Features
| Total Stories | 3 |
|---|---|
| Basement (Y/N) | No |
| Air Conditioning Y/N | Yes |
| Street Suffix | Street |
| Unit Type | 1 Bedroom,2 Bedroom,3 Bedroom,Other Unit |
Exterior Features
| Parking Features | Off Street |
|---|---|
| Water Source | Public |
| Total Parking | 10 |
| Lot Size Area | 12880 |
| Lot Size Units | Square Feet |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 64111
Price
Taxes
Visits
Year Built
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