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Harrison Haus 3035 Harrison St 43 Unit Apartment Building $3,400,000 ($79,070/Unit) 7.70% Cap Rate Kansas City, MO 64109
Investment Highlights
- Prime Midtown Location — Hospital Hill, Crown Center & Martini Corner
- All Major Capital Expenses Completed — Plumbing, Electrical & Windows
- 30 Off-Street Parking Spaces — Rare For Midtown Kansas
- Assumable Loan at 3.22% Interest Rate Until 2031
- On-Site Coin-Operated Laundry Room (Jetz Lease)
- Butterflymx Virtual Doorman + Keypad Entry | Google Fiber
Executive Summary
Lutz Sales + Investments is pleased to present Harrison Haus, a 43-unit multifamily investment opportunity anchored in Kansas City’s Longfellow/Union Hill corridor — immediately east of Crown Center and Hospital Hill, and steps from the beloved Martini Corner dining district. Built in 1926, the classic all-brick building offers an attractive mix of 43 units along with 30 spot dedicated parking lot, individually metered electric, central HVAC, RUBS utility reimbursements and on-site laundry.
The building offers 24 studios and 19 one-bedroom residences, unit types that rent up well in this walkable location so close to transit and in the heart of the City. All capital expenses have been done including roof, electrical, and windows. The property currently boasts a high in place cap rate along with future upside in rental rates.
Adding to the investment appeal is exceptionally attractive assumable financing at a 3.22% interest rate, providing a rare opportunity to acquire a well-located Midtown asset with both immediate cash-flow and long-term value creation.
The building offers 24 studios and 19 one-bedroom residences, unit types that rent up well in this walkable location so close to transit and in the heart of the City. All capital expenses have been done including roof, electrical, and windows. The property currently boasts a high in place cap rate along with future upside in rental rates.
Adding to the investment appeal is exceptionally attractive assumable financing at a 3.22% interest rate, providing a rare opportunity to acquire a well-located Midtown asset with both immediate cash-flow and long-term value creation.
Property Facts
| Price | $3,400,000 | Building Class | B |
| Price Per Unit | $79,070 | Lot Size | 0.58 AC |
| Sale Type | Investment | Building Size | 26,750 SF |
| Cap Rate | 7.70% | Average Occupancy | 100% |
| No. Units | 43 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1926/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $3,400,000 |
| Price Per Unit | $79,070 |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.58 AC |
| Building Size | 26,750 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1926/2020 |
| Parking Ratio | 1.12/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Double Pane Windows
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | 500 |
| 1+1 | 19 | - | 700 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $142,231 | |
| Land Assessment | $27,625 | Total Assessment | $169,856 |
Property Taxes
Parcel Numbers
Land Assessment
$27,625
Improvements Assessment
$142,231
Total Assessment
$169,856
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Harrison Haus | 3035 Harrison St