9805 61St StRaytown, MO 64133

Property Details for 9805 61St St

Year built

1973

Lot size

4.18 AC

Property size (Sq ft)

119,628 SF

Property type

Apartment buildings

Description

This exceptional 120-unit apartment building, Suncrest Apartments, presents a compelling value-add opportunity in Raytown, Missouri. The property, totaling 119,628 square feet across five buildings on a 4.18-acre lot, underwent significant renovations between 2021 and 2023, impacting 80% of the units. These renovations provide a substantial buffer against future capital expenditures. The current average rent is $817 per unit, with potential for further growth as lease-up continues following the recent improvements. The unit mix includes a variety of one- and two-bedroom floor plans, catering to a diverse tenant base. Individual utility metering for electricity and gas is in place for all units. The property features an existing, currently unused pool and outdoor community space, offering potential for amenity upgrades to enhance tenant attraction and rental rates. Located at 9805 61st St, Raytown, MO 64133, this property benefits from its convenient location near the intersection of I-70 and I-435, providing easy access to downtown Kansas City. Raytown's strong demographics, including a median income of $55,940 and a growing rental population, contribute to the property's long-term investment potential. The property's current Net Operating Income (NOI) is $555,134. This is an ideal investment for a long-term hold strategy in a thriving suburban market. Built in 1973, this Class C multifamily property offers a strong foundation for future growth and value appreciation.

Location Insight

City

Raytown

County

Jackson

State

Missouri

Latitude

39.0116

Longitude

-94.4654

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