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Orchard on Queen Ridge 4880-5015 Queen Ridge Ave 50 Unit Apartment Building $13,780,000 CAD ($275,600 CAD/Unit) 5.95% Cap Rate Kansas City, MO 64136
Investment Highlights
- Partially renovated interiors
- Central heat and air conditioning
- attached two car garage
- New LVT (vinyl plank) flooring and carpet
- in-unit washer/dryer hookups
- private patio/deck
Executive Summary
Orchard Townhomes is a unique opportunity to acquire 50 townhome units spread across 25 duplex-style buildings on East 50th Terrace, Queen Ridge Avenue, and Breckenridge Avenue in Kansas City, MO (64136).? The property offers a mix of 2 bed/1.5 bath, 2 bed/1 bath, and 3 bed/2 bath floorplans (majority 3 bed/2 bath) averaging 1,285 SF; large for the submarket.? Each unit includes washer/dryer hookups, central heating and cooling, and a two-car garage.? Utilities are individually metered and paid directly by tenants, lowering owner expenses.? The duplex building/individual parceled layout supports multiple exit strategies, including the potential for individual building sales down the road.? Orchard townhomes sits within the Independence submarket of the KC metro.? Residents have easy access to the Truman Sports Complex (home of the Chiefs & Royals) and the broader KC metro via I-70 and I-470.? The property has been remarkably stable, with occupancy never dropping below 96%.? Rents still have room to grow, the property's $1,545 average rent sits well below comparable renovated 3BR/2BA product in nearby Blue Springs ($1,650-$2,150/mo), with virtually no new competing supply in the immediate submarket, this is a rare combination of proven stability today and real upside tomorrow!
Property Facts
| Price | $13,780,000 CAD | Apartment Style | Townhome |
| Price Per Unit | $275,600 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 8.64 AC |
| Cap Rate | 5.95% | Building Size | 64,236 SF |
| No. Units | 50 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2008 |
| Zoning | R-1.5 | ||
| Price | $13,780,000 CAD |
| Price Per Unit | $275,600 CAD |
| Sale Type | Investment |
| Cap Rate | 5.95% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 8.64 AC |
| Building Size | 64,236 SF |
| Average Occupancy | 96% |
| No. Stories | 1 |
| Year Built | 2008 |
| Zoning | R-1.5 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Yard
- Deck
- Family Room
- Island Kitchen
- Lawn
- Patio
- Porch
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 2 | - | 1,128 |
| 2+2 | 2 | - | 1,174 |
| 3+2 | 46 | - | 1,285 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $731,001 CAD | |
| Land Assessment | $185,188 CAD | Total Assessment | $916,189 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$185,188 CAD
Improvements Assessment
$731,001 CAD
Total Assessment
$916,189 CAD
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Orchard on Queen Ridge | 4880-5015 Queen Ridge Ave
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