Royal Park Apartments

4-30 NW 72nd Street, Gladstone, MO 64118

$Priced to Market

Summary

Property Type:
Multifamily
Number of Units:
56
Total Lot Size:
2.45 Acres
Year Built:
1965

Overview

**Call for Offer 9/23/2020** Royal Park Apartments is a 56-unit community well positioned to Highway 169, and retail in the Northland submarket of Gladstone, MO. This asset underwent an extensive renovation beginning in 2018 comprising of exterior and interior updates including all major mechanicals, added office, amenities, and unit finishes. Royal Park is currently owner-managed and is nearing the end of the initial lease up since the completion of the renovations. New owner can enjoy the low maintenance of a fully retrofitted asset, including the valuable tax abatement awarded to the current owner by the City of Gladstone.

Highlights

  • Full Interior and Exterior Remodel in 2018-2019
  • Located Near Highway 169, Major Retail Centers, North Kansas City Hospital, Cerner Headquarters, and Ford Assembly Plant.
  • Current Rent Below Market. Upside achieved through rent increase after move out and lease renewal.
  • Amenities: Swimming Pool, Private Garages, Additional Tenant Storage, Onsite Leasing Office, Work Out Room, and security cameras.
  • Tax Abatement until 2034

Documents

Richard Redding

Investment Commercial Sales
434-465-0265rredding@amg-cr.com

Colton Howell

Investment Commercial Sales
913-229-4070chowell@amg-cr.com

Catie Sullivan

Brokerage Operations Specialist
816-666-8662csullivan@amg-cr.com

OFFICE ADDRESS

Asset Management Group
5600 W 95th Street, Suite 307
Overland Park, KS 66207

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