728 Jennings Rd | Independence, MO 64056
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728 Jennings Rd
Independence, MO 64056
Independence Towers · Multifamily Property For Sale
·
123 Units
INVESTMENT HIGHLIGHTS
- ±123-unit multifamily property located in Independence, MO (Kansas City suburb)
- Significant value-add opportunity! Current occupancy stands at ±63%,whereas the Independence/East KC submarket boasts an impressive 95% occupancy rate
- New ownership can quickly renovate existing & down units, and bring online top-floor units with prime views of the Kansas City skyline
- 11-story mid-rise tower presents a desirable assortment of studio, one, and two-bedroom apartment homes
- Stabilized Proforma NOI: ±$940k/year
- Numerous underutilized common areas can be transformed into a modern fitness room, resident lounge, and other revenue-generating spaces
PROPERTY FACTS
| No. Units | 123 | Building Size | 72,766 SF |
| Property Type | Multifamily | Average Occupancy | 66% |
| Property Subtype | Apartment | No. Stories | 11 |
| Apartment Style | Mid-Rise | Year Built | 1963 |
| Building Class | B | Parking Ratio | 10/1,000 SF |
| Lot Size | 1.70 AC | ||
| Zoning | C-1 | ||
| No. Units | 123 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 1.70 AC |
| Building Size | 72,766 SF |
| Average Occupancy | 66% |
| No. Stories | 11 |
| Year Built | 1963 |
| Parking Ratio | 10/1,000 SF |
| Zoning | C-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Storage Space
- Heating
- Refrigerator
- Range
- Views
- Carpet
- Window Coverings
SITE AMENITIES
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Property Manager on Site
- Grill
- Elevator
- Online Services
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 43 | - | 350 - 450 |
| 1+1 | 44 | - | 555 - 650 |
| 2+1 | 37 | - | 771 |
PROPERTY TAXES
| Parcel Number | 16-430-03-48-00-0-00-000 | Improvements Assessment | $847,484 |
| Land Assessment | $29,214 | Total Assessment | $876,698 |
PROPERTY TAXES
Parcel Number
16-430-03-48-00-0-00-000
Land Assessment
$29,214
Improvements Assessment
$847,484
Total Assessment
$876,698
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