$259,000
PRICE DROP! $405,000 income approach valuation based on recent appraisal! Mission Rd location. It is hard to find a building like this delivered in a strong, high-demand rental corridor, giving the next owner a true open-canvas opportunity to complete each unit to their desire. The property offers two 1-bedroom 1-bath units and one 2-bedroom 1-bath unit, but these are not traditional layouts. Several units include bonus rooms, office area, additional living space, and other usable spaces that create far more flexibility than the bedroom count may suggest. Significant improvements have already been completed, including new roofs, siding, windows, AC units, furnace, water heaters, caulk, paint, and central heating/cooling. The property is stubbed for plumbing and electrical, with hardwood floors and tile already in place in several areas. No regular owner-paid utilities, with tenants intended to pay water/sewer, electric, gas, and trash. Off-street parking with its own driveway. Fantastic location just blocks from Johnson County, KU Med, Joe’s KC, 43rd Street, State Line, and minutes from the Country Club Plaza, Downtown KC, and Overland Park. Rosedale continues to be one of the strongest urban-core rental submarkets in Kansas City, surrounded by owner-occupied homes, new apartment construction, restaurants, and major employment. The sky is the limit for what this property could become, whether finished as traditional long-term rentals, mid-term rentals, or another rental strategy. Once completed, this property has the potential to be more passive than many buyers may expect, with no regular owner-paid utilities, a tiny yard, new roofs, updated exteriors, newer windows, and major systems already addressed. Those improvements limit the likelihood of large repair and replacement expenses after renovation is complete. Self-manage for maximum return potential or place with professional management for a more hands-off approach. Buyer to complete unit permits post-closing.
4423 Mission Road, Kansas City
Listing courtesy of Alex Olson of Legendary Apartment Brokers.