4-unit apartment complex located within a community of 4-plexes in the Southdale neighborhood of Overland Park, KS. Units at the property feature large 3-level floor plans, carpet (main areas) and tile (bathrooms & kitchens) flooring, central air, updates to fixtures and appliances, a patio/balcony, finished basement with walkout, and washer/dryer hookups (basement). 2 units at the complex have undergone extensive make-readies that included new paint, new vinyl plank flooring (main areas) and some new fixtures. Additionally, all units are individually metered for gas, electric and water. The property provides tenants with front secured entry to units, 8 off-street parking spaces at the rear and additional street parking. 4-plexes within the Southdale neighborhood have an HOA in place that covers lawncare and snow removal and provides tenants a community pool and playground. The HOA owns the parking lots and most of the common area land surrounding the Southdale units. The city of Overland Park was ranked in the top 10 by Livability for 'Best Places to Live in 2020'. These rankings are based on great schools, low crime, shopping and restaurant options, health care access and strong job market. The complex presents a strong investment opportunity in the outstanding Shawnee Mission School District and provides residents easy highway access. Its close proximity to Oak Park Mall provides access to 32+ restaurants and 120+ shops. The current rents being achieved at the property are well below market given the finishes of the units as compared to its neighbors. Further unit by unit improvements could allow for substantial rent increases, seeing rents in the $1,000+ range. Additional upgrades to the property could include updates to kitchen appliances, flooring, fixtures, landscaping, the addition of washers/dryers, and the potential conversion of the basement level to a bedroom & bathroom. Neighboring property at 9425 being sold as well and could be packaged (same owner). 2021-04-01
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