10302 62Nd StShawnee, KS 66203

Property Details for 10302 62Nd St

Year built

1969

Lot size

2.74 AC

Property size (Sq ft)

51,000 SF

Property type

Apartment buildings

Description

This exceptional 60-unit apartment building in Shawnee, Kansas, presents a compelling investment opportunity. Located at 10302 W 62nd St, this stabilized Class C property boasts 51,000 square feet across five, three-story buildings on a 2.74-acre lot. The property features a 96.7% occupancy rate (as of October 25, 2024) and a pro-forma NOI of $544,710, yielding a 7.51% pro-forma cap rate. Built in 1969 and extensively renovated in 1922, Oakside Apartments offers a mix of spacious one- and two-bedroom units, each featuring attractive finishes including quartz countertops, LVT flooring, and stainless steel appliances. The property benefits from its prime location, just one mile from the revitalized historic Downtown Shawnee and conveniently situated near the I-35 and Shawnee Mission Parkway interchange. The asking price is $7,250,000, or $120,833 per unit, and the property is offered free and clear of existing debt. Ample parking is available, and the efficient floor plans contribute to the property's strong performance. This well-maintained property is ideally positioned for long-term ownership and offers a compelling return on investment. The Johnson County location and established rental submarket further enhance its appeal. The property's APN is QP33600000-0035B.

Location Insight

City

Shawnee

County

Johnson

State

Kansas

Latitude

39.017

Longitude

-94.7057

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