3824 Warwick BlvdKansas City, MO 64111

Property Details for 3824 Warwick Blvd

Year built

1921

Property type

Apartment buildings

Description

This exceptional 12-unit apartment building presents a compelling investment opportunity in Kansas City's vibrant Midtown neighborhood. The property, built in 1921 and fully renovated in 2020, boasts 100% occupancy, demonstrating strong tenant demand. Each of the one-bedroom units features updated interiors with new flooring, cabinets, stainless steel appliances, and granite countertops. Significant upgrades include new roofs, mechanical, electrical, and plumbing systems, along with the addition of rooftop solar panels, contributing to reduced utility costs. The building's prime location offers residents convenient access to the expanded Kansas City Streetcar line, numerous shops, restaurants, and several higher education institutions. With an asking price of $1,600,000 ($133,333 per unit), a pro-forma NOI of $111,719, and a pro-forma cap rate of 6.98%, this asset presents a strong return on investment. Average rents of $1,052 are currently below the Kansas City market average of $1,324, indicating significant upside potential. The property is zoned R-1.5 and situated at 3824 Warwick Blvd, Kansas City, MO 64111. Kansas City's robust multifamily market, with 3.7% year-over-year rent growth, further enhances the investment appeal of this property. The building's walk score of 93 underscores its convenient location within a thriving urban environment. This is a high-quality asset in a rapidly growing market.

Location Insight

City

Kansas City

County

Jackson

State

Missouri

Latitude

39.0574

Longitude

-94.584

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