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Listed by Emmie Dearing • EXP Realty LLC
$ 465,000
Est. payment /mo
Active
5121 Thompson AVE Kansas City, MO 64124
3,720 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Dundee Park
MLS Listing ID 2516347
Year Built 1923
Annual Tax Amount $4,712
Lot Size 3,720 Sqft
Acres 0.08539945
Property Sub-Type Apartment
Source hmls
Property Description
Back on the market, no fault of the sellers—inspections available! This 8-unit multifamily is a true value-add opportunity in a prime downtown location. Each unit is a 1 bed/1 bath, and the property already has major updates including new windows, fresh flooring, a brand-new concrete patio, and the combination of two parcels into one large lot. It recently appraised for $600,000. Current occupancy sits at 50% due to tenant turnover and a change in management, but the rented units are already achieving $1,000+ per month. That supports a pro forma gross rent of $8,000 monthly once stabilized, making this a strong opportunity to capture upside and long-term cash flow.
Location
State MO
County Jackson
Zoning R-2.5
Interior
Interior Features Individual Storage
Heating Natural Gas
Cooling Window Unit(s)
Fireplace N
Exterior
Parking Features false
Utilities Available Cent Water Heater, Separate Meters
Roof Type Composition
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Concrete,Stucco
Schools
School District Kansas City Mo
Others
Acceptable Financing Cash, Conventional, Private Financing Available
Listing Terms Cash, Conventional, Private Financing Available
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