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Victory Park 12322 3rd St 104 Unit Apartment Building For Sale Grandview, MO 64030
Investment Highlights
- Recently Renovated, Stabilized Asset with Limited Deferred Maintenance
- Embedded Mark-to-Market Rent Upside on In-Place Leases
- Strong Ancillary Income Through Utility Recovery and Fees
- Proven Renovation Premium Across the Remaining Classic Units
- Durable Income Anchored by Agency Housing Contracts
- Workforce Housing in a Supply-Constrained Submarket
Executive Summary
As exclusive advisor, MMG Real Estate Advisors is pleased to present Victory Park, a 104-unit garden apartment community in Grandview, Missouri. The asset sits on 4.88 acres in the South Kansas City and Grandview submarket, directly adjacent to the Harry S. Truman Farm Home and minutes from Interstate 49 and US-71. Both prior ownership and the current owner have spent significant capital on deferred maintenance and long-term asset preservation items, allowing a new owner to step into a stabilized, recently improved asset rather than a heavy construction project. Additionally, significant rent premiums have been proven on nearly half of the property, demonstrating the viability of further value-add upside. Victory Park offers durable, workforce-priced cash flow with a clear path to continued growth. In-place rents trail current market and renovated-unit pricing, the remaining classic units carry a proven renovation premium, and a portion of the rent roll is backed by long-term agency housing contracts. The result is an income stream that is both defensible today and positioned to climb under disciplined ownership.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Sale Type | Investment | Building Size | 73,200 SF |
| No. Units | 104 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1974/2022 |
| Apartment Style | Garden | Parking Ratio | 2.73/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 4.84 AC | ||
| Zoning | Residential | ||
| Sale Type | Investment |
| No. Units | 104 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.84 AC |
| Building Size | 73,200 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built/Renovated | 1974/2022 |
| Parking Ratio | 2.73/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Courtyard
- Property Manager on Site
- Laundry Service
- Maintenance on site
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 80 | $968.80 CAD | 675 |
| 2+1 | 24 | $1,277 CAD | 800 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 64-820-03-20-00-0-00-000 | Improvements Assessment | $723,079 CAD |
| Land Assessment | $42,003 CAD | Total Assessment | $765,082 CAD |
Property Taxes
Parcel Number
64-820-03-20-00-0-00-000
Land Assessment
$42,003 CAD
Improvements Assessment
$723,079 CAD
Total Assessment
$765,082 CAD
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Victory Park | 12322 3rd St
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