For Sale

Listed by We Heart Homes Team and Emmie Fogel from Keller Williams Key Partners

Source: Heartland Multiple Listing Service #HMS2645865

5121 Thompson Avenue, Kansas City, MO, 64124

$465,000

3720 sq. ft.

Apartment

•

12 days on the market

What's around 5121 Thompson Avenue

About this property

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.

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