The fountain plaza apartments sit directly in the middle of a rapidly expanding lake community with a total area population of approximately 90,000 people. It is well known that this community is experiencing tremendous growth due to affordability of living, combined with the close proximity to a very strong Kansas City job market. While current rents are below market, several key upgrades have recently been completed and goals are being met. Management has set in motion an 18 month plan-of-action that will position the property to perform at an 8+ cap. This opportunity will be right for any investor looking to own a big multifamily property with little out of pocket.
The seller will consider sale terms equivalent to cash and conventional financing. For more information, please contact the broker directly.
Key property upgrades since 2018 include the following:
new roofs on all three buildings
new patio sliding doors in every unit
new windows in every unit
newly remodeled units to include new lvp flooring, appliances, counters and the addition of washer/dryer in-unit
newly resurfaced and re-striped parking lot
approximately 15 units have been remodeled since 2018
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