4033 Oak Street Kansas City, MO 64111
Well-maintained 14-unit garden style apartment complex just south of the Plexpod in a historic Southmoreland neighborhood. Stands 3-stories with updated balconies, newer exterior paint and parking lot at the rear providing tenants 10 off-street spaces (recently sealed). The 14 units consists of studios (1), one-bedroom units (2), two-bedroom units (9) and three-bedroom units (2). The property’s location is anchored by the Arts District as well as universities, hospitals, local shops/restaurants and businesses. It is well positioned to take advantage of its location next to multiple stops on Main (39th, 43rd, & 45th) of the KC Streetcar extension line. Over the last 10 years, ownership has completed capital expenditures including decks/railings, new sliding glass doors and vinyl windows, updated landscaping, siding repairs, gutter and fascia repairs, concrete flatwork and updates to appliances and counter surfaces (select units). All units at the property have central air, spacious floorplans, Google Fiber, ample closet space, fully equipped kitchens, LVT flooring and carpet in bedrooms. A secured designated laundry room is offered to tenants with coin-operated machines on a month-to-month Jetz lease. The building is separately metered for gas and electric (tenant paid) and has common water and trash (landlord paid). The building is partially broker owned and has 3rd party management in place. At the start of April, owner implemented a water savings program/equipment to help reduce water expenses. The asset is appealing to both the stabilized and value-add investor. Buyers could continue to manage property as-is with small incremental improvements or look to carry out enhanced make-readies on kitchens/baths and add laundry to units with RUBS implemented to maximize rents. Buyer’s looking for greater scale can package this property with 4505 Jarboe (MLS:2483418), a 12-unit complex in West Plaza owned/operated by the same partnership.
- Property TypeCondo
- NeighborhoodSouthmoreland
- CountyJackson
- Taxes$13,810
- HOA/Condo/Coop Fees$0
- Days on Site20 Days
- MLS StatusActive
- MLS ID Number2483405
- Home Size Source N/A
- Year Built1960
- Lot Size0.296 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Construction Brick VeneerWood Siding
- Parking Off Street
- Parking Spaces 10
- Number of Stories 3
- Water Public
- Property Sub Type Apartment
- Zoning R-2.5
- Sewer City/ Public
- Parking Total 10
Interior Features
- Cooling Electric
- Heating Forced Air
Exterior Features
- Roof Composition
- Construction Details Brick VeneerWood Siding
Community Features
- Association Dues 0
- MLS Area 202 - Kansas City Area (So. of River)