PROPERTY DESCRIPTION

Park Place Apartments is a 34 unit stately apartment building on two legal parcels. These three-story brick 1960s construction buildings contain a desirable mix of 16 two-bedroom, 16 one-bedroom units, and two studio units. Park Place Apartments has ample on-site parking behind the building with easy direct access to units and its own large parking lot. Most of the units have been renovated with high end finishes including granite countertops and updated bathrooms and kitchens. Each unit has central heat and AC, dishwashers and front and back entrance. Building exteriors are in great shape and a security camera system monitors the parking lot. Opportunity exists to add laundry rooms in the basements furthering tenant amenities. All cap ex has been completed with newer roof, redone common areas and updated units. This location is centrally located, along public transportation routes and close to downtown. Third party management currently in place. The largely market-rate tenant base enjoys the spacious floorplans, upgraded kitchens and bathrooms, and granite countertops. 14 of the 34 units have been freshly renovated in the last year and are achieving a $200/ mo premium over non-renovated units. Opportunity exits to add two additional units and bring back on-site laundry rooms. The growing Swope Park neighborhood supports both workforce and professional housing and has easy freeway or bus access to anywhere in the Kanas City Metro.