3102 51St TerKansas City, KS 66104

For Sale
$1,800,000

18-Unit Apartment Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 18-unit apartment building presents a compelling investment opportunity in Kansas City, KS. The property, situated on a 0.47-acre lot at 3102 N 51st Terrace, boasts 12,600 square feet and is a two-story Class B building constructed in 1967, extensively renovated in 2021. The renovation included a new roof, stairs, and decking, enhancing both curb appeal and longevity. The building currently enjoys a 90% occupancy rate, with a unit mix of fourteen two-bedroom and four one-bedroom apartments, each featuring a washer/dryer. The property's zoning is KRP3. Located near I-635, this prime location offers convenient access to major thoroughfares, schools (elementary, middle, and high schools are nearby), and popular attractions including the Legends Shopping District, NASCAR, Children's Mercy Soccer Complex, and downtown Kansas City. The asking price is $1,800,000, translating to $100,000 per unit and $142.86 per square foot. This stabilized investment offers strong potential for future growth and return, making it an attractive proposition for discerning investors. The property's strong occupancy and recent upgrades contribute to its immediate cash flow potential. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving Kansas City market.

Highlights

  • $1,800,000 asking price for an 18-unit apartment building.
  • 12,600 square feet, 18 units (14 two-bedroom, 4 one-bedroom), 90% occupancy.
  • Built in 1967, renovated in 2021 (roof, stairs, decking).
  • Located in Kansas City, KS (66104), 0.47-acre lot, KRP3 zoning.
  • Excellent location near schools and major roadways, offering strong rental demand.

Property Details for 3102 51St Ter

Property type
Multifamily properties, Apartment buildings
Square Feet
12,600 SF
Class
B
Year Built/Renovated
1967/2021
Buildings
1
Stories
2
Lot Size (sq. ft)
20,473 SF
Units
18

Location Insight

City
Kansas City
County
Wyandotte
State
Kansas
Latitude
39.1432795
Longitude
-94.6989408
3102 51St Ter, Kansas City, Kansas

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3102 51St Ter
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