Description

Plaza Hill Manor is a 162-unit multifamily property for sale at 3712 East 47th Terrace in Kansas City, MO. Its 79,956 SF across 5.32 acres gives an investor a sizable residential holding with an operating plan centered on leasing.

Built in 1950 and renovated in 2017, the Property has an average unit size of 494 SF and an average rent of $656 per month. The unit mix is identified as studio. On-site laundry and on-site maintenance and management support day-to-day resident operations. Parking totals 142 spaces, with a parking ratio of 0.89 per 1,000 SF. The Property is recorded at 0% occupancy, making leasing central to the acquisition strategy.

Plaza Hill Manor sits in the Oak Park Southeast corridor, directly across from newly delivered Class A multifamily and near the Overlook development, which includes office, retail and multifamily components. Residents have walkable access to grocery, healthcare providers, transit routes, parks and community amenities. For an investor planning to lease the Property, those nearby services give prospective residents practical reasons to consider the address.

The Property is offered without an asking price. In-place rent is $656 against a market rent figure of $799, framing the leasing opportunity without assuming that the market figure has been achieved. T-12 NOI is $450,209, while stabilized NOI is $842,382; the distinction matters when underwriting the work between current operations and the stabilized case. The Offering Memorandum provides the next step for a buyer interested in that operating story.