3102 51St TerKansas City, KS 66104

Property Details for 3102 51St Ter

Year built

1967

Lot size

0.47 AC

Property size (Sq ft)

12,600 SF

Property type

Apartment buildings

Description

This exceptional 18-unit apartment building presents a compelling investment opportunity in Kansas City, KS. The property, situated on a 0.47-acre lot at 3102 N 51st Terrace, boasts 12,600 square feet and is a two-story Class B building constructed in 1967, extensively renovated in 2021. The renovation included a new roof, stairs, and decking, enhancing both curb appeal and longevity. The building currently enjoys a 90% occupancy rate, with a unit mix of fourteen two-bedroom and four one-bedroom apartments, each featuring a washer/dryer. The property's zoning is KRP3. Located near I-635, this prime location offers convenient access to major thoroughfares, schools (elementary, middle, and high schools are nearby), and popular attractions including the Legends Shopping District, NASCAR, Children's Mercy Soccer Complex, and downtown Kansas City. The asking price is $1,800,000, translating to $100,000 per unit and $142.86 per square foot. This stabilized investment offers strong potential for future growth and return, making it an attractive proposition for discerning investors. The property's strong occupancy and recent upgrades contribute to its immediate cash flow potential. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving Kansas City market.

Location Insight

City

Kansas City

County

Wyandotte

State

Kansas

Latitude

39.1433

Longitude

-94.6989

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