Listed By:
Compass Realty Group
Address
4033 Oak Street, Kansas City, MO
Price
$ 1,736,000
Property Attributes
  • MLS#2483405
  • TypePending
  • CountyJACKSON
  • CityKansas City
  • Area202 - Kansas City Area
  • NeighborhoodSouthmoreland
  • Zip64111
  • Style
  • Year Built1960
  • Taxes$ 13810
  • Price$ 1,736,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.295684 Acres
Data Source:
Heartland MLS (HMLS)
Property Description

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.

Price History
4/16/2024 Listed $1,820,000
5/9/2024 5% - $1,736,000

General Features

Sewer City/Public
Heating Forced Air
Cooling Electric
Utilities Cent Water Heater,Separate Meters
Roof Composition
Zoning R-2.5
Construction Materials Brick Veneer,Wood Siding
Year Built 1960
Property SubType Apartment
Assoc Fee Paid Per None
County Jackson
Property Type Residential Income
HOA / Comm Assn No
Subdivision Name Southmoreland
Garage Y/N No
Status Pending
Directions From Main Street head east on 41st. Turn left on Oak St (one-way). Building will be on east side of street.
City Kansas City
High School District Kansas City Mo
NumberOfUnitsTotal 14
MLS Area 202 - Kansas City Area (So. of River)
Lot Size Units Square Feet
Lot Size Square Feet 12880
Listing Terms Cash,Conventional,1031 Exchange
Public Remarks 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
Virtual Tour https://media.clappphotographyrealestate.com/videos/018e9b40-dd3d-70e9-8ec2-68ae26d94486
Standard Status Pending
In Flood Plain No
HMS_MaintenanceProvidedYN No

Interior Features

Total Stories 3
Basement (Y/N) No
Air Conditioning Y/N Yes
Unit Type 1 Bedroom,2 Bedroom,3 Bedroom,Other Unit

Exterior Features

Parking Features Off Street
Water Source Public
Total Parking 10
Lot Size Area 12880

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 64111

Price
AVG $390K
$1.74M
Taxes
AVG $4,258
$13,810
Visits
AVG 222
333
Data Provided by Inside Real Estate®
Year Built
AVG 1936
1960