5121 Thompson Avenue

Kansas City MO 64124

3720 sq. ft.

Apartment

Currently for sale - view listing

Overview

An exceptional opportunity awaits the discerning investor looking to secure a high-performing asset that meets the highly coveted 1% rule. Situated in a prime downtown location, this 8-unit multifamily complex offers an immediate revenue stream alongside substantial value-add potential. The property comprises six 1 bed, 1 bath units, and two 2 bed, 1 bath units currently yielding $5,548 per month in rental income with a 7/8 occupancy rate. Significant capital expenditures have already been completed, including a foundation repair, comprehensive termite treatment, new windows, updated flooring, and a newly poured concrete patio. Additionally, the majority of the units feature recently replaced appliances and PTAC climate control systems. A detailed spreadsheet is provided for all maintenance and upgrades on each unit. Additionally, an inspection report is available from the last year. Backed by a recent $600,000 appraisal, this turnkey asset is primed for immediate acquisition.

Features

3720 sq. ft. lot size

Apartment

Property history for 5121 Thompson Avenue

2023

Sold

Undisclosed

30 May 2023

2021

Sold

Undisclosed

24 Nov 2021

2014

Sold

Undisclosed

15 May 2014 by Candace Davis, of Arrow Equity Trust LLC

Happy sellers in Kansas City

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