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Manor Ridge 120 W Elizabeth St 49 Unit Apartment Building $3,750,000 ($76,531/Unit) Independence, MO 64050
Investment Highlights
- On-Site Laundry & On Site Parking
- Sub-metered for Gas & Electric
- Clean, Well-kept, Workforce Housing - Never Goes Out Of Style
- Central Heat & Air with all HVAC Systems Replaced 2018
- 100% Market Rate Tenants
Executive Summary
Manor Ridge is a 49-unit workforce housing asset across three well-maintained brick buildings comprising three two-bedrooms, 43 one-bedrooms, and thee studios.? The property features on-site parking, coin-operated laundry in the basements, and secured entry.? Nearly all HVAC systems were replaced in 2018, all new doors were installed in 2023, and the roof, parking lot, and brick exterior remain in excellent condition.? Clean, well-kept workforce housing never goes out of style — and Manor Ridge delivers exactly that.?
All 49 units are 100% market rate, sub-metered for gas and electric with tenants responsible for their own utility costs.? Landlord-paid water/sewer and trash are offset by a $50/month utility fee on new leases.? Independence sits within the Kansas City metro, drawing on a demographic that reliably seeks clean, professionally managed workforce housing over homeownership.? The property benefits from proximity to major employers including the VA Medical Center and Centerpoint Medical Center, and the retail draw of Independence Center.?
With all major capital expenditures complete, and durable demand drivers, Manor Ridge is one to add to your portfolio today!
All 49 units are 100% market rate, sub-metered for gas and electric with tenants responsible for their own utility costs.? Landlord-paid water/sewer and trash are offset by a $50/month utility fee on new leases.? Independence sits within the Kansas City metro, drawing on a demographic that reliably seeks clean, professionally managed workforce housing over homeownership.? The property benefits from proximity to major employers including the VA Medical Center and Centerpoint Medical Center, and the retail draw of Independence Center.?
With all major capital expenditures complete, and durable demand drivers, Manor Ridge is one to add to your portfolio today!
Property Facts
| Price | $3,750,000 | Building Class | C |
| Price Per Unit | $76,531 | Lot Size | 1.33 AC |
| Sale Type | Investment | Building Size | 33,010 SF |
| No. Units | 49 | Average Occupancy | 91% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1925/2023 |
| Apartment Style | Garden |
| Price | $3,750,000 |
| Price Per Unit | $76,531 |
| Sale Type | Investment |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.33 AC |
| Building Size | 33,010 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1925/2023 |
Amenities
Unit Amenities
- Disposal
- Storage Space
- Kitchen
- High Speed Internet Access
- Refrigerator
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Grill
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 450 |
| 1+1 | 43 | - | 550 |
| 2+1 | 3 | - | 700 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $119,005 | |
| Land Assessment | $34,273 | Total Assessment | $153,278 |
Property Taxes
Parcel Numbers
Land Assessment
$34,273
Improvements Assessment
$119,005
Total Assessment
$153,278
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Manor Ridge | 120 W Elizabeth St
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