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Chapel Hill 10440-10466 Wornall Rd 56 Unit Apartment Building For Sale Kansas City, MO 64114
EXECUTIVE SUMMARY
Investment Highlights
- Managed by the current owner
- Large 1-bedroom and 2-bedroom floorplans, averaging 1,067 square feet
- Ownership has completed renovations on 33 units. These renovations include LVP Flooring, Stainless Steel Appliances, Granite Countertops, New Cabinet Fronts & Hardware. Nearby renovated comparable properties with similar finishes and smaller unit sizes are commanding $200 premiums over Chapel Hill.
- 2-bedroom units account for 75% of the property and are $200 below market comparables. This will allow new ownership to raise rents to market on the renovated units and renovate the remaining 19 units to align with market rates.
- All washer/dryer machines are owned by the property. There is no contract in-place.
- The limited new supply in South Kansas City will fuel strong demand and upward pressure on rents
- Beautifully Landscaped Courtyard & On-site Swimming Pool
- Offered free & clear new ownership maximum flexibility in acquisition financing.
Location Highlights
- South Kansas City/Grandview submarket saw 3.32% YOY rent growth, while maintaining occupancy levels at or above 95% (RealPage Analytics)
- Quiet, Park-Like Setting: Chapel Hill offers a peaceful living environment, tucked away from the bustle with a beautifully landscaped interior courtyard featuring mature shade trees and lush greenery—offering a tranquil living experience for residents.
- Unrivaled Metro Connectivity via Immediate access to I-435 places the entire Kansas City metro area within minutes.
- Surrounded by over 5 million square feet of office and more than 2 million square feet of retail within a five-mile radius.
- Proximity to Major Employers & Developments: Minutes from St. Joseph Medical Center, Burns & McDonnell headquarters, Holmes Corporate Office Park, and Blue River Commerce Center.
- Active Lifestyle Amenities: Steps from Leawood Park, offering walking and biking trails, sports courts, playgrounds, and expansive green spaces.
- Managed by the current owner
- Large 1-bedroom and 2-bedroom floorplans, averaging 1,067 square feet
- Ownership has completed renovations on 33 units. These renovations include LVP Flooring, Stainless Steel Appliances, Granite Countertops, New Cabinet Fronts & Hardware. Nearby renovated comparable properties with similar finishes and smaller unit sizes are commanding $200 premiums over Chapel Hill.
- 2-bedroom units account for 75% of the property and are $200 below market comparables. This will allow new ownership to raise rents to market on the renovated units and renovate the remaining 19 units to align with market rates.
- All washer/dryer machines are owned by the property. There is no contract in-place.
- The limited new supply in South Kansas City will fuel strong demand and upward pressure on rents
- Beautifully Landscaped Courtyard & On-site Swimming Pool
- Offered free & clear new ownership maximum flexibility in acquisition financing.
Location Highlights
- South Kansas City/Grandview submarket saw 3.32% YOY rent growth, while maintaining occupancy levels at or above 95% (RealPage Analytics)
- Quiet, Park-Like Setting: Chapel Hill offers a peaceful living environment, tucked away from the bustle with a beautifully landscaped interior courtyard featuring mature shade trees and lush greenery—offering a tranquil living experience for residents.
- Unrivaled Metro Connectivity via Immediate access to I-435 places the entire Kansas City metro area within minutes.
- Surrounded by over 5 million square feet of office and more than 2 million square feet of retail within a five-mile radius.
- Proximity to Major Employers & Developments: Minutes from St. Joseph Medical Center, Burns & McDonnell headquarters, Holmes Corporate Office Park, and Blue River Commerce Center.
- Active Lifestyle Amenities: Steps from Leawood Park, offering walking and biking trails, sports courts, playgrounds, and expansive green spaces.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 3.69 AC |
| No. Units | 56 | Building Size | 59,960 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1964/2000 |
| Building Class | C | Parking Ratio | 2.07/1,000 SF |
| Sale Type | Investment |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.69 AC |
| Building Size | 59,960 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2000 |
| Parking Ratio | 2.07/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Hardwood Floors
- Refrigerator
- Range
- Carpet
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Controlled Access
- Courtyard
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Grill
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 789 |
| 2+1.5 | 42 | - | 1,160 |
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PROPERTY TAXES
| Parcel Number | 48-940-06-07-00-0-00-000 | Improvements Assessment | $237,007 CAD |
| Land Assessment | $400,660 CAD | Total Assessment | $637,667 CAD |
PROPERTY TAXES
Parcel Number
48-940-06-07-00-0-00-000
Land Assessment
$400,660 CAD
Improvements Assessment
$237,007 CAD
Total Assessment
$637,667 CAD
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Chapel Hill | 10440-10466 Wornall Rd
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