Investment Overview

Marcus & Millichap is pleased to present the Opera House Lofts located at 145 W Pine St in Warrensburg, Missouri. Last renovated in 2006, this property is comprised of 17 units totaling ±17,800 rentable square feet with an average unit size of ±1,047 square feet. The Opera House Lofts offers tenants a variety of different floor plans to choose from and contains six two beds one-bathroom units, eight three beds two-bathroom units, and three four beds two-bathroom units. A new roof was installed on the property back in 2018 as well as new windows in 2019. The owner pays for all utilities on the property but has an in-place utility bill back system that tenants pay monthly along with their monthly rent. With the apartment complex comes 200 W Pine St which is located diagonally adjacent to the subject property. This additional property offers 1-to-1 parking per bedroom for the Opera House Lofts tenants as well as steady income from local tenants. This property is currently 100% occupied and offers steady cash flow on day one. Warrensburg, Missouri is located just an hour's drive from Kansas City, allowing residents to enjoy the attractions of a 2 million strong metropolis and the advantages of small-town living. It is a self-contained city of about 19,700 people that enjoys a vibrant and growing employment base, an active cultural scene, and is home to the University of Central Missouri with nearly 21,000 students. Average population growth is about 3% a year. The University, nearby Whiteman Air Force Base (home to the B-2 Stealth Bomber), agriculture, and a mix of manufacturing, commercial and retail enterprises drive Warrensburg' s diverse and stable economy.