Price Reduction
Address
4201 S Minnie Street, Kansas City, KS
Price
$ 860,000
Property Attributes
- MLS#2469249
- TypeMulti-Family
- CountyWYANDOTTE
- CityKansas City
- Area405 - N=Ks Rvr - S=Jo Co Ln - E=StateLn - W=18th S
- NeighborhoodLombard Pk Add
- Zip66103
- Style
- Year Built1960
- Taxes$ 7800
- Price$ 860,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size7,405 SqFt
Data Source:
Heartland MLS (HMLS)
Property Description
MAJOR PRICE REDUCTION 7 turnkey units. 100% Occupied! Minnie Ridge Apartments, next to KU Med. Exceptional investment opportunity in the heart of Kansas City, Kansas! Boasting seven units thoughtfully designed for comfort and convenience, this property offers a diverse unit mix of studio, 2BR/2BA, and 2BR/1BA. The property is a turnkey investment, ready for you to purchase, manage, and elevate rents to market rates, including the addition of a bill-back program. Exceptionally Low owner expenses. Completely rehabbed with upgraded electric and plumbing with in the last 10 years or so. New roof in the last 7-10 years (paperwork available), water heaters less than 5 years old. Everything in the building is 10 years old or newer. Situated near the high-demand neighborhood of KU Med, this property's outstanding location is complemented by very low owner expenses, efficiently managed through self-management currently. The apartments feature central heating and cooling, washer and dryer in all units, and essential amenities such as dishwashers (excluding studios). With recent renovations and ongoing maintenance, this property requires nothing more than rent optimization. Attracting a diverse tenant base of med students, researchers, doctors, nurses, and professionals, Minnie Ridge Apartments is a lucrative opportunity for savvy investors. This will appreciate exceptionally well due to the exploding KU Med corridor as the hospital system continues to expand and reinvest. Lenders are standing by and want to lend on this asset (see supplements). The strategic location, adjacent to the thriving 39th St entertainment district, underscores the fast-appreciating value of this investment. With easy access to major arteries, including I-35, and proximity to downtown, Westport, and Country Club Plaza, Minnie Ridge Apartments offers both a quiet, vibrant community atmosphere and the potential for substantial returns.
| Price History | |
|---|---|
| 1/17/2024 | Listed $895,000 |
| 2/13/2024 | 3% - $875,000 |
| 4/30/2024 | 2% - $860,000 |
General Features
| Sewer | City/Public |
|---|---|
| Heating | Electric,Forced Air |
| Cooling | Electric |
| Utilities | Ind Heat And Air,Ind Water Heaters |
| Roof | Metal,Other |
| Appliances | Dishwasher,Dryer,Refrigerator |
| Zoning | MF |
| Construction Materials | Brick & Frame,Metal Siding |
| Year Built | 1960 |
| Property SubType | Apartment |
| Assoc Fee Paid Per | None |
| County | Wyandotte |
| Property Type | Residential Income |
| HOA / Comm Assn | No |
| Subdivision Name | Lombard Pk Add |
| Garage Y/N | No |
| Status | Active |
| Directions | Off HWY 169 between W 42nd and 43rd Avenue. Property is at the corner of W 42nd and Minnie Street. |
| City | Kansas City |
| High School District | Kansas City Ks |
| Total Units | 7 |
| MLS Area | 405 - N=Ks Rvr;S=Jo Co Ln;E=StateLn;W=18th St |
| Lot Size Square Feet | 7405 |
| Street Name | Minnie |
| Listing Terms | Cash,Conventional,1031 Exchange |
| Public Remarks | MAJOR PRICE REDUCTION 7 turnkey units. 100% Occupied! Minnie Ridge Apartments,next to KU Med. Exceptional investment opportunity in the heart of Kansas City,Kansas! Boasting seven units thoughtfully |
| Standard Status | Active |
| In Flood Plain | No |
| Virtual Tour | https://my.matterport.com/show/?m=bH1cz7oW21s |
| HMS_MaintenanceProvidedYN | No |
Interior Features
| Total Stories | 3 |
|---|---|
| Basement (Y/N) | No |
| Air Conditioning Y/N | Yes |
| Street Suffix | Street |
| Laundry Features | Inside,Utility Room |
| Unit Type | 2 Bedroom,Other Unit |
Exterior Features
| Parking Features | Assigned,Off Street |
|---|---|
| Water Source | Public |
| Total Parking | 14 |
| Lot Size Area | 7405 |
| Lot Size Units | Square Feet |
| Road Responsibility | Public Maintenance |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 66103
Price
Taxes
Visits
Year Built
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Last Updated: May 15, 2024 3:33 PM UTC
