Apartment - Kansas City, MO
The Arsenal is a charming 12-unit, two building complex ideally located in the historic South Hyde Park neighborhood of Kansas City, Missouri. The buildings stands 3-stories with a stately partial brick exterior, new roofs and provide tenants with front & rear access, off-street parking (12 spaces) and ample street parking. The parking lot was recently redone, new concrete at the front of both buildings was poured and the 4021 building had new windows installed. Built in 1921 & 1935, these sister buildings consist of 12 two-bedroom/one-bathroom units with an approximate unit size of 850 square-feet (mirror image floorplans). All units at the complex feature central air/heat, washer/dryer, light hardwood flooring, separate dining areas, good closet space, sunroom/living room, excellent natural lighting, Fiber, fully equipped kitchens and ceiling fans. Ownership acquired the buildings late...
The Arsenal is a charming 12-unit, two building complex ideally located in the historic South Hyde Park neighborhood of Kansas City, Missouri. The buildings stands 3-stories with a stately partial brick exterior, new roofs and provide tenants with front & rear access, off-street parking (12 spaces) and ample street parking. The parking lot was recently redone, new concrete at the front of both buildings was poured and the 4021 building had new windows installed. Built in 1921 & 1935, these sister buildings consist of 12 two-bedroom/one-bathroom units with an approximate unit size of 850 square-feet (mirror image floorplans). All units at the complex feature central air/heat, washer/dryer, light hardwood flooring, separate dining areas, good closet space, sunroom/living room, excellent natural lighting, Fiber, fully equipped kitchens and ceiling fans. Ownership acquired the buildings late in 2023 and pulled units out of service to create a uniform product. Updates to units include full installment of washer/dryer in all units, new granite and cabinets, new appliances (stainless/black) and fixtures, updated bathrooms/kitchens, and new faux wood blinds. Arsenal is separately metered units for gas and electric (tenant’s responsibility) and has common hot water (landlord pays). The property currently has excellent 3rd party management in place and a history of high occupancy and is now 100% occupied/stabilized. New ownership can add value by continuing the implementation of RUBS/water fees of $35-$45/month as a form of water relief – currently implemented in 50% of the units. The neighborhood hosts sought after schools, such as the Academie Lafayette Cherry Street campus, as well as numerous historic churches and businesses. The complex is just north of the University of Missouri-Kansas City’s main campus and east of the Kansas City Art Institute and the neighborhood makes it a draw for tenants seeking a sense of history amongst urban life.
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