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Listed by Michelle Lutz • Lutz Sales + Investments
$595,000
Est. payment /mo
8,638 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home, Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Smart'S D O Add
MLS Listing ID 2648591
Year Built 1909
Annual Tax Amount $4,089
Lot Size 8,638 Sqft
Acres 0.1983012
Property Sub-Type Apartment
Source hmls
Property Description
Situated along Kansas City's iconic Gladstone Boulevard, this stately three-story brick sixplex combines historic charm, stable cash flow, and excellent upside potential. Featuring a beautiful, welcoming front porch and timeless architectural character, this classic Northeast property is just two miles from downtown Kansas City and conveniently located near public transportation.The property offers an attractive unit mix of two 2BR/2BA units, one 2BR/1.5BA, one 2BR/1BA, and two 1BR/1BA units. All six units have received varying levels of upgrades within the past six years. Currently 100% occupied with a stable tenant base, the property generates $5,755 in total monthly income, with rents ranging from $650 to $1,025.
Multiple additional income streams make this investment especially appealing! A detached three-car garage, on-site laundry facilities, and tenant-paid utility, parking, and pet fees provide revenue beyond base rents and help offset operating expenses. The landlord pays water and sewer, while trash service is provided through free city pickup. Additional off-street parking is available behind the building, along with ample boulevard parking.
With a full basement, numerous capital improvements already completed, established occupancy, and meaningful room to increase rents, this property presents an outstanding opportunity to grow NOI and build long-term equity. Historic character, multiple revenue streams, and upside potential in one of Kansas City's most recognizable boulevard locations! An excellent addition to any multifamily investment portfolio.
Multiple additional income streams make this investment especially appealing! A detached three-car garage, on-site laundry facilities, and tenant-paid utility, parking, and pet fees provide revenue beyond base rents and help offset operating expenses. The landlord pays water and sewer, while trash service is provided through free city pickup. Additional off-street parking is available behind the building, along with ample boulevard parking.
With a full basement, numerous capital improvements already completed, established occupancy, and meaningful room to increase rents, this property presents an outstanding opportunity to grow NOI and build long-term equity. Historic character, multiple revenue streams, and upside potential in one of Kansas City's most recognizable boulevard locations! An excellent addition to any multifamily investment portfolio.
Location
State MO
County Jackson
Zoning C
Interior
Heating Central Gas
Cooling Electric
Fireplace N
Laundry Central Laundry
Exterior
Parking Features true
Utilities Available Cent Water Heater, Separate Meters
Roof Type Composition
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick/Mortar
Schools
School District Kansas City Mo
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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