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The 1 Twenty Two at 63rd 108 NW 63rd St 48 Unit Apartment Building $5,854,903 CAD ($121,977 CAD/Unit) Kansas City, MO 64118
Investment Highlights
- 48 unit apartment complex located in heart of Gladstone
- Roughly 50% of units have been renovated
- Strong demographics in great submarket
- Mix of 41 (2BR x 1BA) and 7 (1BR x 1BA)
- Great value add potential in B Class submarket of Kansas City
- Large floor plans (950 SF for 2x1 / 750 SF for 1x1)
Executive Summary
1 Twenty Two Apartments is a 48-unit apartment complex located in Gladstone, MO. The property consists of majority 2 BR units (41/48) with the remaining 7 units being 1BR. Current ownership has renovated roughly 50% of the units. At closing, there will be 7 “down” units that have roughly $50,000 of cap ex work needed to get to make ready condition. The units at 1 Twenty Two are larger, average SF is roughly 900 SF. All units have central heating and cooling, and a select few have washer and dryer in-unit. All other units use the on-site common area laundry facilities. There is a dog park and a potential to add in a
playground set in the center green space. There is over 1 to 1 off-street parking for tenants as well.
playground set in the center green space. There is over 1 to 1 off-street parking for tenants as well.
Property Facts
| Price | $5,854,903 CAD | Building Class | C |
| Price Per Unit | $121,977 CAD | Lot Size | 2.55 AC |
| Sale Type | Investment | Building Size | 40,000 SF |
| No. Units | 48 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1967 |
| Apartment Style | Garden | Parking Ratio | 2.55/1,000 SF |
| Zoning | Residential | ||
| Price | $5,854,903 CAD |
| Price Per Unit | $121,977 CAD |
| Sale Type | Investment |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.55 AC |
| Building Size | 40,000 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built | 1967 |
| Parking Ratio | 2.55/1,000 SF |
| Zoning | Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 755 |
| 2+1 | 41 | - | 900 - 950 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $937,603 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$937,603 CAD
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The 1 Twenty Two at 63rd | 108 NW 63rd St
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