Thompson Eight

Description: This eight unit apartment in Kansas City’s historic neighborhood contains eight functional 1-bedroom units, separately metered utilities with exception of water, potential for future on-site laundry. The double corner lot leaves room for on site gated parking in the future. Two options: the seller will give the buyer the property now for $600k and let them select their own tenants and add the laundry room or he will fill up and add laundry and sell at $650k.

Why We Love It: All the bad apples are gone and all the units have a clean fresh finish. Pick your tenants in this growing affordable neighborhood. Comes with a vacant lot that can be converted into gated parking. This is nice C class cash flow.

Challenges: All the problem tenants are out and the owner ready to start filling up with either market or voucher rate tenants. Only has 1/8 units filled now. Always will be 1/1 units. Laundry room needs to be added in the basement. Workforce housing neighborhood.