4201 S Minnie Street
Kansas City, KS, 66103 $ 875,000
Baths0.0 Monthly Estimate*
$ 6,112
Studio
for $875,000. This home was built in 1960 on a lot size of 0.169995.
MAJOR PRICE REDUCTION 7 turnkey units. 100% Occupied! Minnie Ridge Apartments, next to KU Med. Exceptional investment opportunity in the heart of Kansas City, Kansas! Boasting seven units thoughtfully designed for comfort and convenience, this property offers a diverse unit mix of studio, 2BR/2BA, and 2BR/1BA. The property is a turnkey investment, ready for you to purchase, manage, and elevate rents to market rates, including the addition of a bill-back program. Exceptionally Low owner expenses. Completely rehabbed with upgraded electric and plumbing with in the last 10 years or so. New roof in the last 7-10 years (paperwork available), water heaters less than 5 years old. Everything in the building is 10 years old or newer. Situated near the high-demand neighborhood of KU Med, this property's outstanding location is complemented by very low owner expenses, efficiently managed through self-management currently. The apartments feature central heating and cooling, washer and dryer in all units, and essential amenities such as dishwashers (excluding studios). With recent renovations and ongoing maintenance, this property requires nothing more than rent optimization. Attracting a diverse tenant base of med students, researchers, doctors, nurses, and professionals, Minnie Ridge Apartments is a lucrative opportunity for savvy investors. This will appreciate exceptionally well due to the exploding KU Med corridor as the hospital system continues to expand and reinvest. Lenders are standing by and want to lend on this asset (see supplements). The strategic location, adjacent to the thriving 39th St entertainment district, underscores the fast-appreciating value of this investment. With easy access to major arteries, including I-35, and proximity to downtown, Westport, and Country Club Plaza, Minnie Ridge Apartments offers both a quiet, vibrant community atmosphere and the potential for substantial returns.
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FeaturesGeneralSewer City/Public
Heating Electric Forced Air
Cooling Electric
Utilities Ind Heat And Air Ind Water Heaters
Roof Metal Other
Appliances Dishwasher Dryer Refrigerator
Zoning MF
HOA 0
Construction Materials Brick & Frame Metal Siding
Year Built 1960
Property SubType Apartment
Assoc Fee Paid Per None
County Wyandotte
Property Type Residential Income
HOA / Comm Assn N
Subdivision Name Lombard Pk Add
Garage Y/N N
Status Active
Directions Off HWY 169 between W 42nd and 43rd Avenue. Property is at the corner of W 42nd and Minnie Street.
City Kansas City
High School District Kansas City Ks
Total Units 7
MLS Area 405 - N=Ks Rvr;S=Jo Co Ln;E=StateLn;W=18th St
Lot Size Square Feet 7405
Street Name Minnie
Listing Terms Cash Conventional 1031 Exchange
Public Remarks MAJOR PRICE REDUCTION 7 turnkey units. 100% Occupied! Minnie Ridge Apartments next to KU Med. Exceptional investment opportunity in the heart of Kansas City Kansas! Boasting seven units thoughtfully
Standard Status Active
In Flood Plain No
Virtual Tour https://my.matterport.com/show/?m=bH1cz7oW21s
HMS_MaintenanceProvidedYN N
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ExteriorParking Features Assigned Off Street
Water Source Public
Total Parking 14
Lot Size Area 7405
Lot Size Units Square Feet
Road Responsibility Public Maintenance
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InteriorTotal Stories 3
Basement (Y/N) N
Air Conditioning Y/N Y
Street Suffix Street
Laundry Features Inside Utility Room
Unit Type 2 Bedroom Other Unit
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $6,112
- Monthly Property Taxes
- $650
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Kansas City, KS
Average List Price $436,296
Percent of Sale Price 50%
About Kansas City, KS 149,522 Population
2% Since 2002
$ 38,301 Median Income
34.17 Median Age
32% Households with Children
Trends Information provided by ATTOM Data Solutions.
651942 Elementary School
652106 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
2/13/2024 | $875,000 | -2.23% | Price Down |
1/17/2024 | $895,000 | | Listed Price |