Active
4033 Oak Street
Kansas City MO, 64111
$1,820,000
Active
Condo
Built in 1960
Well-maintained 14-unit garden style apartment complex just south of the Plexpod in a historic Southmoreland neighborhood. Stands 3-stories with updated balconies, newer exterior paint and parking lot at the rear providing tenants 10 off-street spaces (recently sealed). The 14 units consists of studios (1), one-bedroom units (2), two-bedroom units (9) and three-bedroom units (2). The property's location is anchored by the Arts District as well as universities, hospitals, local shops/restaurants and businesses. It is well positioned to take advantage of its location next to multiple stops on Main (39th, 43rd, & 45th) of the KC Streetcar extension line.
Over the last 10 years, ownership has completed capital expenditures including decks/railings, new sliding glass doors and vinyl windows, updated landscaping, siding repairs, gutter and fascia repairs, concrete flatwork and updates to appliances and counter surfaces (select units). All units at the property have central air, spacious floorplans, Google Fiber, ample closet space, fully equipped kitchens, LVT flooring and carpet in bedrooms. A secured designated laundry room is offered to tenants with coin-operated machines on a month-to-month Jetz lease. The building is separately metered for gas and electric (tenant paid) and has common water and trash (landlord paid). The building is partially broker owned and has 3rd party management in place.
At the start of April, owner implemented a water savings program/equipment to help reduce water expenses. The asset is appealing to both the stabilized and value-add investor. Buyers could continue to manage property as-is with small incremental improvements or look to carry out enhanced make-readies on kitchens/baths and add laundry to units with RUBS implemented to maximize rents. Buyer's looking for greater scale can package this property with 4505 Jarboe (MLS:2483418), a 12-unit complex in West Plaza owned/operated by the same partnership.
2483405
MLSⓇ ID
April 16, 2024
Listed
April 17, 2024
Updated
Map
4033 Oak Street
Kansas City MO, 64111
Interior Features
Total Stories
3
Fireplace
No
Cooling
Yes
Cooling Description
Electric
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.3 Acres
Roof
Composition
Sewer
City/Public
School Information
School District
Kansas City Mo
Other Property Details
Area Name
202 - Kansas City Area (So. of River)
Garage
No
Parking
Off Street
Parking Total
10
View
No
County
Jackson
Water Source
Public
Pool
No
Zoning
R-2.5
Buyer Agency Compensation
2.5%
Courtesy of Compass Realty Group, Brice Bradshaw, Parker Beck
Listing Contact: 913-219-7074
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Data last updated: 4/17/2024, 1:07 AM UTC