516 Splitlog AveKansas City, KS 66101

For Sale
$4,150,000

29-unit multifamily, high demand area.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 29-unit apartment building in Kansas City, KS's Strawberry Hill neighborhood presents a compelling value-add investment opportunity. Located at 516 Splitlog Ave, 66101, this fully renovated property boasts 31,131 square feet and offers a mix of one- and two-bedroom units, each featuring modern amenities such as granite countertops, stainless steel appliances, real hardwood floors, and in-unit washer/dryer hookups. All units include private balconies or patios. With a current asking price of $4,150,000 ($143,103 per unit and $133.31 per square foot), this property offers a 6.00% cap rate and a net operating income (NOI) of $249,206. Currently 100% leased, the property benefits from its convenient location, offering direct highway access and free off-street parking. The strong local demand, reflected in a 3.5% vacancy rate (significantly below the Kansas City metro average), and the potential for rental growth make this a highly attractive investment. The property is situated minutes from downtown Kansas City, providing tenants with easy access to employment centers and urban amenities. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a thriving market.

Highlights

  • 29-unit apartment complex in Kansas City's Strawberry Hill neighborhood, minutes from downtown.
  • One- and two-bedroom units with granite countertops, stainless steel appliances, hardwood floors, and in-unit washer/dryer hookups.
  • Private balconies or patios; rents from $1,100/month.
  • Free off-street parking and direct highway access.
  • 100% occupancy; local vacancy rate 3.5%.
  • Strong investment opportunity with rental growth potential.

Property Details for 516 Splitlog Ave

Property type
Multifamily properties, Apartment buildings
Square Feet
31,131 SF
Buildings
1
Units
29

Location Insight

City
Kansas City
County
Wyandotte
State
Kansas
Latitude
39.1092586
Longitude
-94.6221563
516 Splitlog Ave, Kansas City, Kansas

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516 Splitlog Ave
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