For Sale $2,800,000
Property Type Multi-Family
Property Size 38,490 SF
Units 40
Year Built 1969
Year Renovated 2023
Date Updated Apr 10, 2024

Located in a great submarket with a high demand for affordable housing.Maple Manor apartments is a four building, 40 unit, low-rise apartment complex that has been well maintained and boasts 95% occupancy. This property is located in a great submarket that has a high demand for the affordable housing these units provide and have shown strength through continued rent increases. Significant improvements have been completed throughout the last one to five years including new roofs and siding, landscaping, and parking lot repairs. A majority of units have been renovated over the past year with new paint, flooring, countertops, bathrooms, and appliances. The next owner will benefit from reduced Capital Expenses. 17 units are dedicated to HAP so future management's ability to work with HUD compliance is a MUST. Having these 17 units dedicated is a huge benefit for the owners as you have the ability to give out the vouchers if someone has not yet received one. Current owners have recently signed a 5 year extension and completed a Rent Comp Study to increase all HAP rents (800, 900, 1000). On top of the 17 HAP units, a majority of tenants have Vouchers (80%). These vouchers provide guaranteed income every month so you can worry less about tenants missing rent. HUGE upside potential if you can increase the vouchers to HUDS FMR of $1,002, $1,164, $1,530.

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Highlights

- Great location near Downtown Independence
- Day one cash flow with upside through continued operational efficiencies
- Onsite Parking and Onsite Laundry
- Affordable housing is in HIGH demand

Contacts

Sterling H. Scott

SVN | Encompass Commercial

(816) 436-4600

Location

Getting Around

Walk Score ®
53/100 Somewhat Walkable
Transit Score ®
32/100 Some Transit
Bike Score ®
30/100 Somewhat Bikeable

Map
Street

City Independence, MO
Neighborhood Procter
Zip Code 64050
Market Kansas City

Points of Interest

Independence

0.44 miles
Worlds of Fun Railroad Station

6.32 miles
22nd at Vine

7.02 miles
Train and Tram Station

7.88 miles
City Market

8.04 miles
River Market North

8.05 miles
Power and Light

8.05 miles
Kauffman Center

8.05 miles
Metro Center

8.05 miles
Metro Center

8.06 miles

Sinclair

1.11 miles
Phillips 66

1.14 miles
Casey's General Store

2.10 miles
Hy-Vee Gas

2.35 miles
QuikTrip Gas & Convenience Store

2.81 miles
Conoco

2.92 miles
QuikTrip

3.01 miles
QuikTrip

3.10 miles
Shell

3.11 miles
QuikTrip

3.14 miles

H

0.28 miles
J

0.32 miles
K

0.32 miles
L

0.33 miles
M

0.39 miles
N

0.42 miles
E

0.45 miles
A

0.46 miles
F

0.48 miles
B

0.49 miles

Higher Ground Hotel

0.50 miles
Serendipity Bed & Breakfast

0.63 miles
Ophelia's Restaurant & Inn

0.97 miles
Deluxe Inn

3.00 miles
Bluebird Motel

3.08 miles
Super 8 by Wyndham Independence Kansas City

3.24 miles
Truman Inn

3.27 miles
Days Inn

3.38 miles
Red Lion Inn & Suites

3.43 miles
Adam's Mark Hotel & Conference Center at the Sports Stadium Complex

3.48 miles

La Plaza

0.85 miles
Square Pizza

0.85 miles
Up Dog

0.87 miles
Mugs Up Diner

0.88 miles
Little Caesars

0.88 miles
Subway

0.91 miles
Courthouse Exchange

0.92 miles
Burger King

0.92 miles
El Pico

0.93 miles
Rheinland Restaurant

0.94 miles

Graceland University

0.07 miles
Columbian School

0.27 miles
Bryant Elementary School

0.53 miles
Procter Elementary School

0.59 miles
Carlisle School

1.01 miles
Alton School

1.01 miles
Independence Academy

1.02 miles
Central State College

1.08 miles
Santa Fe Trail Elementary School

1.08 miles
Oldham School

1.31 miles

Hanthorn Early Education

2.43 miles
Cotton Candy Daycare Center

5.77 miles
Children's Choice

5.95 miles
Downtown Day Care

6.56 miles
Alphabet Academy Child Care

7.27 miles
Inspire Early Education Center

7.38 miles
Lakewood Kindercare

7.38 miles
Sonshine Day Care Center

7.67 miles
Golden Oaks Education Center

8.32 miles
St. Luke's Hospital Child Care Center

8.86 miles

Frequently Asked Questions

What is the lease rate for Maple Manor Apartments?

Rental asking rate at Maple Manor Apartments is $1,400,000.00/YR.

What is the total square footage of Maple Manor Apartments?

Maple Manor Apartments totals 38,490 square feet.

When was this property built?

Maple Manor Apartments was built in 1969.

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