Pleasant Valley Portfolio of properties for Sale - I-35 Corridor
72-UNIT RENOVATED PORTFOLIO OFFERING IMMEDIATE CASH FLOW WITH PROVEN VALUE-ADD UPSIDE
Midwest CRE Advisors is pleased to present a 72-unit multifamily portfolio comprising Tall Oaks Apartments in Pleasant Valley, Missouri, and 321 Townhomes in Independence, Missouri. The offering provides investors with immediate in-place cash flow, approximately $486,000 in combined current NOI and a clearly defined path to additional income growth across two complementary Kansas City metro submarkets.
Tall Oaks Apartments is a 52-unit garden-style community located at 7015 N Chas Drive in the Kansas City Northland near Liberty. Situated on approximately 5.72 acres, the property features an all-2BR/2BA unit mix with floor plans ranging from 950 to 1,000 SF. A renovation program was completed in 2023, and the property currently includes 32 renovated units and 20 remaining Classic units. Current average rent is approximately $1,104 per unit, below ownership’s pro forma target of approximately $1,264 per unit. The property also offers 27 garages and ample off-street parking.
321 Townhomes is a gated, 20-unit community located at 321 W South Avenue in Independence. Built in 2001 and renovated in 2024, the property consists primarily of 18 spacious 2BR/1.5BA townhomes, along with one 3BR/2BA unit and one 2BR/1BA unit. Current rents average approximately $1,157 per unit, compared with an average pro forma target of approximately $1,280. Renovated 2BR/1.5BA units are already demonstrating an approximately $163 monthly premium over comparable Classic units, validating the property’s ongoing value-add strategy.
Together, the properties contain approximately 71,270 rentable SF on a combined 6.67 acres. The portfolio offers diversified multifamily product, recent capital improvements, demonstrated renovation premiums, select lease-up opportunities and additional rent growth supported by nearby comparable properties. This offering presents an opportunity to acquire meaningful scale in the Kansas City metro while benefiting from in-place income and asset-specific operational upside.
INVESTMENT HIGHLIGHTS
• 72-unit Kansas City metro multifamily portfolio consisting of two complementary assets in Clay and Jackson counties
• In-place cash flow with combined current NOI of approximately $486,762
• Recently completed renovation programs at both properties, with additional upside available through remaining Classic unit renovations, lease turnover and lease-up
• Embedded rent growth supported by nearby comparable properties and demonstrated premiums for renovated units
• Tall Oaks Apartments includes 52 spacious 2BR/2BA units averaging approximately 993 SF across 5.72 acres
• Tall Oaks offers 27 garages, ample off-street parking and 32 renovated units, with 20 remaining Classic units providing a defined value-add opportunity
• 321 Townhomes includes 20 gated townhome units, primarily featuring 2BR/1.5BA floor plans averaging approximately 980 SF
• Renovated 2BR/1.5BA units at 321 Townhomes demonstrate an approximately $163 monthly premium over comparable Classic units
• Select vacancies provide an incoming investor with an immediate lease-up opportunity
• Diversified housing product across two distinct Kansas City-area submarkets, including garden-style apartments in the Northland and gated townhomes in Independence
• Approximately 71,270 rentable SF situated on a combined 6.67 acres
• Access to the diversified Kansas City regional economy, supported by major healthcare, manufacturing, logistics and retail employers
Detailed offering materials, financial information and rent rolls are available upon execution of a confidentiality agreement. Contact the listing brokers for pricing guidance and access to the confidential offering package. Please do not contact property management, staff or residents.
