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Park Place Apartments 7000 Cleveland Ave 34 Unit Apartment Building $3,545,011 CAD ($104,265 CAD/Unit) Kansas City, MO 64132
Investment Highlights
- Central Heat & Air
- Ample On-Site Parking in Dedicated Parking Lot
- Centrally Located for all of Kansas City – near Highways and Bus Lines
- Sub-metered Utilities (Except Water)
- Stable Workforce & Voucher Housing
- Value-add Opportunities: Revive Two on-site Laundry Rooms & Get All Units to Market Rent
Executive Summary
The Park Place Apartments is a rehabbed 34-unit multifamily property in the heart of Kansas City offering stable in-place income with opportunities for income upside. Originally built in 1963, the property has been thoughtfully updated through the years with granite countertops and LVP flooring in all units. Park Place Apartments presents a compelling opportunity for workforce and voucher housing cash flow with income upside.
Every unit has been renovated with modern finishes, including luxury vinyl plank flooring, dishwashers, central heat and A/C, granite countertops, and updated kitchens and bathrooms. Tenants enjoy ample off-street parking just steps from their doors. Two common-area spaces provide additional upside, with the opportunity to convert them back to on-stie laundry, boosting income and tenant convience. Each unit is separately metered and features its own furnace, water heater, and A/C condenser, keeping maintenance costs low and operations straightforward.
Whether you're looking for steady returns or a platform for community impact, Park Place Apartments offers updated units with steady cash flow.
Every unit has been renovated with modern finishes, including luxury vinyl plank flooring, dishwashers, central heat and A/C, granite countertops, and updated kitchens and bathrooms. Tenants enjoy ample off-street parking just steps from their doors. Two common-area spaces provide additional upside, with the opportunity to convert them back to on-stie laundry, boosting income and tenant convience. Each unit is separately metered and features its own furnace, water heater, and A/C condenser, keeping maintenance costs low and operations straightforward.
Whether you're looking for steady returns or a platform for community impact, Park Place Apartments offers updated units with steady cash flow.
Property Facts
| Price | $3,545,011 CAD | Building Class | C |
| Price Per Unit | $104,265 CAD | Lot Size | 1.30 AC |
| Sale Type | Investment | Building Size | 21,960 SF |
| No. Units | 34 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1964/2022 |
| Apartment Style | Low-Rise | Parking Ratio | 3.1/1,000 SF |
| Zoning | R-1.5 | ||
| Price | $3,545,011 CAD |
| Price Per Unit | $104,265 CAD |
| Sale Type | Investment |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.30 AC |
| Building Size | 21,960 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built/Renovated | 1964/2022 |
| Parking Ratio | 3.1/1,000 SF |
| Zoning | R-1.5 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 2 | - | 400 |
| 1+1 | 16 | - | 625 |
| 2+1 | 16 | - | 725 |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $190,993 CAD | |
| Land Assessment | $63,168 CAD | Total Assessment | $254,161 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$63,168 CAD
Improvements Assessment
$190,993 CAD
Total Assessment
$254,161 CAD
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Park Place Apartments | 7000 Cleveland Ave
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