premier overland park,

ks location

THE OPPORTUNITY

A garden-style asset with an attractive location

Berkadia Real Estate Advisors have been exclusively retained to offer qualified investors the opportunity to purchase the fee simple interest in Grant 79, a conventional 100 unit multifamily asset located in one of Kansas City's most desirable submarkets - Overland Park / Johnson County.

Located in Kansas City's premier and most affluent submarkets in Overland Park, Grant 79's location is attractive to families and young professionals with convenient access to top employers and job concentrations, excellent schools, leading healthcare and abundant retail.

INVESTMENT HIGHLIGHTS

  • Premier Overland Park, KS Location
  • Capture $75,000+ / year as leases are marked to market
  • In-place rents are $60+ below current achieved rents
  • $2,500,000+ in property wide capital investments
  • 0.5 miles from Shawnee Mission Medical Center (2,500 professionals)
  • Continue the utility bill-back implementation to add $11,000 to other income

The Property

Grant 79 is a newly enhanced apartment community consisting of 100 units located in Overland Park, Kansas. Part of the Kansas City metropolitan area, the city of Overland Park is approximately 10 miles southwest of Downtown Kansas City. Built in 1970 and recently renovated, the garden-style property is situated on 7.72 acres encompassing a net rentable area of 101,455 square feet. The property contains six two-story buildings consisting of wood frame construction and pitched roofs composed of asphalt shingles. A separate building is currently being used as a stand-alone rental office.

Residents have six floor plans from which to choose. The community is comprised of one studio measuring 465 square feet, 37 one-bedroom units ranging from 724 to 924 square feet, 44 two-bedroom units ranging from 980 to 1,089 square feet, and 18 three-bedroom units ranging from 1,350 to 1,440 square feet with an overall average unit size of 993 square feet. Nestled in a residential neighborhood, the property has plenty of grassy areas surrounded by mature evergreen trees. Grade-level apartment parking is available for 185 vehicles. Carport parking is an optional amenity.

Amenities

UNIT AMENITIES

  • Fully equipped kitchen with range, dishwasher, and spacious cabinets
  • Combination carpet and wood-style flooring
  • Energy efficient windows and doors
  • Ceiling fans and window coverings
  • Air conditioning, heat, and high-speed internet access
  • Private balcony or patio
  • Pet friendly
  • Select units may include a gas range and/or wood-burning fireplace

COMMUNITY AMENITIES

  • Outdoor swimming pool with sundeck
  • Children’s playground
  • On-site laundry facility
  • Picnic areas with barbecue grills
  • 24-hour emergency maintenance
  • On-site property management
  • Package service and online payments available

LOCATION

Economic Snapshot

CONTACT

Experts here for you

Michael Sullivan

Senior Director

phone: 816.759.0369

email: Michael.Sullivan@berkadia.com

Brett Meinzer

Director

phone: 816.759.0366

email: Brett.Meinzer@berkadia.com

Alex Blagojevich

Managing Director

phone: 312.845.3088

email: Alex.Blagojevich@berkadia.com

John Schorgl

Financing Managing Director

phone: 913.209.9815

email: John.Schorgl@berkadia.com

KANSAS CITY OFFICE

4800 Main Street, Suite 501

Kansas City, MO 64112

Phone: 816.531.2884

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

©2018 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx