9400 W 81st St
Overland Park, KS 66204
Grant Court · Multifamily Property For Sale · 34 Units

Built in 1970, Grant Court is a spacious 34-unit garden-style apartment complex located near Downtown Overland Park in the highly desirable area of Johnson County, Kansas. The subject property sits just several minutes east of massive new developments that have been completed or are underway. These new developments in Downtown Overland Park total over 600 rental units and consist of luxury apartments and senior/assisted living units. Still in the works is the new Edison District, which is expected to be done in late Fall of 2019. The complex is also situated just minutes away from AdventHealth Shawnee Mission, Oak Park Mall and Shawnee Mission West High School. Lying on over 2-acres of land, Grant Court features 4 buildings centered around a courtyard area featuring an ample amount of green space and pergola with a picnic area. Buildings at the complex stand 2 and 3-stories and the complex provides 63 off-street parking spaces on the south side nearest 81st Street. A large majority of the units at Grant feature private balconies/patios that provide scenic views of the central courtyard area. Of the 34 units at the complex, 18 are two-bedroom/two-bathroom units, 14 are one-bedroom/one-bathroom units, and 2 are studio units. The 2-bedroom units have an approximate unit size of 1,050 sf (+/-) and the 1-bedroom units have an average unit size of 775 sf (two floorplans). The 2 studio unit possess different floorplans and have an average unit size of 537 sf (+/-). Each building provides tenant’s basement access to free additional storage and owner-owned laundry machines. Grant Court is separately metered for electric and has common gas (2 large public service meters). All units at Grant Court feature large floor plans, carpet (main areas/bedrooms) and vinyl flooring (kitchens/bathrooms), central air, dishwashers, fireplaces, a dining room, and are cable ready. Specific units at the complex feature stackable in-unit washers/dryers (20 in total), balconies/patios, vaulted ceilings, ceiling fans, updated appliances, and conversion to electric furnaces and electric stoves. Management has implemented monthly RUBS utility charges for 22 of the 34 units ranging from $25 to $45 effective September 1st, 2019. These utility charges are a billback for water & gas and fluctuate based on whether or not the units have washer/dryer and the unit’s mix. Tenants are responsible for electricity and the landlord is responsible for gas, water and trash. The property is well positioned for new owners to continue updates and increase rents. Minor updates to kitchens, bathrooms and fixtures as well as the continued addition of washers/dryers to units could result in higher rents. The open canvas courtyard area and potential addition of ceiling fans to all units are other areas that possess value-add potential