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Multifamily

KC Metro SFR Portfolio

8803 Corrington Ave, Kansas City, MO 64138

Listing Price: Request For Offer

Number of Units
86
Occupancy
97.0%

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the KC Metro SFR portfolio. It consists of 64 single family rentals, 17 duplex units, one four-plex, and one vacant lot all located throughout Jackson County, MO. The portfolio presents investors with a rare opportunity to build scale in the appreciating Kansas City housing market with a value-add component to increase rents through organic rent growth and light interior renovations. The Portfolio consists of 13 units in Blue Springs, 4 units in Grain Valley, 9 units in Grandview, 1 unit in Greenwood, 23 units in Independence, 9 units in Kansas City, 11 units in Lee’s Summit, and 16 units in Raytown. The unit mix ranges from two bedrooms to five bedrooms, average square feet of 1,269 and the average vintage is 1975. The current average rent of the portfolio is $1,204 and is currently 97.7% occupied. All tenants are responsible for utilities. The Kansas City Metro is home to 2.4 million residents, ranked the 36th most populated metropolitan area in the US. It has seen a 10.5% population growth over the past decade. Over the next 20 years, Kansas City is expected to add another 400,000 residents. Forbes ranked Kansas City as one of the best places for job growth, education, and business and careers in the US with a cost of living 3 percent below the national average.

Investment Highlights

  • Average Portfolio Rent is $245 per Month Lower than the Average Rent in Each Submarket.
  • Rents in Kansas City Have Increased 18 Percent Year-Over-Year.
  • Renter-Occupied Households Make Up 45 Percent of the Total Occupied Housing Units in KC.
  • Home Values in Kansas City Have Increased by 16.2 Percent Over the Past Year and are Expected to Increase Another 10 Percent by April 2023.
  • Population Growth and High Demand for SFR Significantly Outweigh Housing Inventory.

Exclusively Listed By

Broker of Record

  • David Saverin

    Regional Manager

    (314) 889-2500

    License(s) MO: 2008013520

    Missouri

Multifamily

KC Metro SFR Portfolio

Listing Price: Request For Offer

Number of Units
86
Occupancy
97.0%

Investment Highlights

  • Average Portfolio Rent is $245 per Month Lower than the Average Rent in Each Submarket.
  • Rents in Kansas City Have Increased 18 Percent Year-Over-Year.
  • Renter-Occupied Households Make Up 45 Percent of the Total Occupied Housing Units in KC.
  • Home Values in Kansas City Have Increased by 16.2 Percent Over the Past Year and are Expected to Increase Another 10 Percent by April 2023.
  • Population Growth and High Demand for SFR Significantly Outweigh Housing Inventory.

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the KC Metro SFR portfolio. It consists of 64 single family rentals, 17 duplex units, one four-plex, and one vacant lot all located throughout Jackson County, MO. The portfolio presents investors with a rare opportunity to build scale in the appreciating Kansas City housing market with a value-add component to increase rents through organic rent growth and light interior renovations. The Portfolio consists of 13 units in Blue Springs, 4 units in Grain Valley, 9 units in Grandview, 1 unit in Greenwood, 23 units in Independence, 9 units in Kansas City, 11 units in Lee’s Summit, and 16 units in Raytown. The unit mix ranges from two bedrooms to five bedrooms, average square feet of 1,269 and the average vintage is 1975. The current average rent of the portfolio is $1,204 and is currently 97.7% occupied. All tenants are responsible for utilities. The Kansas City Metro is home to 2.4 million residents, ranked the 36th most populated metropolitan area in the US. It has seen a 10.5% population growth over the past decade. Over the next 20 years, Kansas City is expected to add another 400,000 residents. Forbes ranked Kansas City as one of the best places for job growth, education, and business and careers in the US with a cost of living 3 percent below the national average.

Exclusively Listed By

Broker of Record

  • David Saverin

    Regional Manager

    (314) 889-2500

    License(s): MO: 2008013520

    Missouri

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