4901 Wornall Rd
Kansas City, MO 64112
Plaza 1 · Property For Lease · 154,920 SF

Plaza Point Apartments is a 12-story multifamily property with 99 units and 6,000 square feet of ground-level commercial space located in the heart of Kansas City, Missouri two blocks from the renowned historic Country Club Plaza. Plaza Point enjoys a healthy mix of units with one, two, and three-bedroom floor plans, all of which are sizable as compared to the competition. The property is well situated for the long haul due to extensive investment in replacing and upgrading key building systems over the past five years. In addition to meticulous repair and maintenance of the original finishes, ownership upgraded 30 units with granite countertops, new carpet, and lighting. Savvy investors will recognize the feasibility of multiple value-add options: maintain and operate as is, convert some or all units to condominiums, or execute a comprehensive upgrade to compete with the surrounding Class A properties. Maximizing the value of this impeccably maintained asset is possible via organic rent growth, implementing a RUBS program, updating lobby finishes, and renovating the remaining 69 units. In addition, some or all of the existing commercial space and upper level of the parking garage can be converted to a reimagined amenity package and augment the appeal of the renovated units and location.