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Lookout Apartments 6212 Slater St 34 Unit Apartment Building For Sale Merriam, KS 66202
Investment Highlights
- Zoned High Rise Residential
- Catty-Corner to Future Trader Joes
- Blocks From $250mm Development
- Stabilized Asset in Suburban Pocket Gentrifying in Real Time
- Adjacent to Merriam City Hall + Community Center
Executive Summary
Zeal Property Advisors, LLC is pleased to present the exclusive offering of The Lookout Apartments (“The Property”), a 34-unit apartment community located in Merriam, Kansas. The Property was built in 1965 and underwent substantial renovations to the interior and exterior in the late 2000’s. The asset is located next door to the ongoing $250mm Merriam Grand Station & Marketplace development featuring a Trader Joes grocer catty-corner to Lookout. The Property is considered stabilized with little to no deferred maintenance in a suburban pocket gentrifying in real time. The Property is additionally uniquely zoned for High Rise Residential and prospective investors are encouraged to review this opportunity as a redevelopment or use as a future exit strategy.
The Property is offered as a fee simple sale free and clear of debt and offers prospective investors the opportunity to acquire a well-located asset primed for above par appreciation + rent growth. Tour dates will be announced by the Brokers at a future date.
The Property is offered as a fee simple sale free and clear of debt and offers prospective investors the opportunity to acquire a well-located asset primed for above par appreciation + rent growth. Tour dates will be announced by the Brokers at a future date.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Sale Type | Investment | Lot Size | 0.93 AC |
| No. Units | 34 | Building Size | 27,094 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1965/2010 |
| Building Class | C | ||
| Zoning | C1 | ||
| Sale Type | Investment |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 27,094 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2010 |
| Zoning | C1 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Kitchen
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 500 |
| 1+1 | 15 | - | 550 |
| 2+1 | 18 | - | 660 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | JP20000044-0011 | Improvements Assessment | $503,113 CAD |
| Land Assessment | $45,038 CAD | Total Assessment | $548,151 CAD |
Property Taxes
Parcel Number
JP20000044-0011
Land Assessment
$45,038 CAD
Improvements Assessment
$503,113 CAD
Total Assessment
$548,151 CAD
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Lookout Apartments | 6212 Slater St
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