USAMOGrandviewSouthern Acres13901 Grandboro Ln

13901 Grandboro Ln, Condo with 0 bedrooms, 0 bathrooms and 274 parking in Grandview MO | Image 1

$9,600,000

13901 Grandboro Ln, Grandview, MO

Condo

For Sale

$--,---,---

00274

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size -

Garage No

Maintenance Fees

Taxes $98,565

Days Active 0

Approx. Age 1974

MLS® Number 2565441

Property Address:

Average square foot calculated using Size range provided by listing agent.

Description

Stabilized asset with assumable loan at 3.1% maturing in 2032 – eligible for supplemental with NOI increases. Douglas Place Apartments is a 121-unit garden/low-rise complex located in Grandview, Missouri. The asset is comprised of nearly 9-acres with 12 two & three-story buildings, a dedicated on-site management office, courtyard/picnic area and 274 off-street parking spaces. The value proposition of the property is strengthened by its diverse selection of spacious floor plans – with an average unit size of 920 square feet – featuring a mix of apartments (studio, 1BR, 2BR, 3BR) and townhome units (3BR & 4BR), a unique offering in Grandview. Douglas Place provides excellent commuter accessibility to highways/interstates as Grandview sits at one of the most advantageous spots in greater Kansas City adjacent to the greatest merging of traffic in the area: three interstates (I-49, I-35 and I-70), one state highway (HWY 150) and two four-lane highways . Douglas Place boasts a strong occupancy history, currently stabilized at 93%. Since acquisition, current ownership has made substantial capital improvements to both the buildings and individual units. The asset offers investors the opportunity to assume a highly competitive in-place loan and unlock additional value through organic rent growth, renovations to the remaining 23 classic units and the potential addition of common area amenities on the excess land. Located in South Kansas City/Grandview — the top-performing submarket in the region — the area recorded the highest year-over-year asking rent growth in Q1 at 3.5% (source: CoStar). Douglas Place is well serviced with major employers including the Honeywell NNSA Campus, the new Southview Commerce Center and Dayton Freight. The lack of new construction in Grandview ensures continued strong demand from renters.Show Description

MLS® Number2565441

Locker

Ensuite LaundryNo

Balcony

Furnished

Laundry Level

Exposure

Exterior

GarageNo

Approx. Age1974

Stories3

Pets

Corp Number

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatForced Air

A/CElectric

Heating Fuel

Extras

Similar Listings

Like what you see?

Complete the form and we'll be in touch. No login necessary.

Add a Comment

I want to view this property

By checking this box, and clicking “Take a Tour”, I am confirming that I have read and agree to Zoocasa's Data Processing & Privacy Policy, and to Zoocasa's Terms of Use.

By checking this box, and clicking “Take a Tour”, I am electronically signing and consenting to receive marketing communications (about real estate brokerage services and one or more properties that I may buy, sell, or rent), that may be delivered to me via email, telephone and/or text messaging (using “automated technology” such as an automatic telephone dialing system, and/or an artificial or prerecorded voice), from Zoocasa, eXp Realty® and its independent contractor real estate agents, and/or its or their affiliates, using the contact information I provided. Consent is not a condition of purchase. I may opt-out at any time by emailing [email protected] or calling 1-844-683-4664.

Get notified of price or status changes by saving this listing