4201 South Minnie Street

Kansas City, KS 66103

$875,000
Price
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Beds
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per Sq. Ft.

Description

MAJOR PRICE REDUCTION 7 turnkey units. 100% Occupied! Minnie Ridge Apartments, next to KU Med. Exceptional investment opportunity in the heart of Kansas City, Kansas! Boasting seven units thoughtfully designed for comfort and convenience, this property offers a diverse unit mix of studio, 2BR/2BA, and 2BR/1BA. The property is a turnkey investment, ready for you to purchase, manage, and elevate rents to market rates, including the addition of a bill-back program. Exceptionally Low owner expenses....MAJOR PRICE REDUCTION 7 turnkey units. 100% Occupied! Minnie Ridge Apartments, next to KU Med. Exceptional investment opportunity in the heart of Kansas City, Kansas! Boasting seven units thoughtfully designed for comfort and convenience, this property offers a diverse unit mix of studio, 2BR/2BA, and 2BR/1BA. The property is a turnkey investment, ready for you to purchase, manage, and elevate rents to market rates, including the addition of a bill-back program. Exceptionally Low owner expenses. Completely rehabbed with upgraded electric and plumbing with in the last 10 years or so. New roof in the last 7-10 years (paperwork available), water heaters less than 5 years old. Everything in the building is 10 years old or newer. Situated near the high-demand neighborhood of KU Med, this property's outstanding location is complemented by very low owner expenses, efficiently managed through self-management currently. The apartments feature central heating and cooling, washer and dryer in all units, and essential amenities such as dishwashers (excluding studios). With recent renovations and ongoing maintenance, this property requires nothing more than rent optimization. Attracting a diverse tenant base of med students, researchers, doctors, nurses, and professionals, Minnie Ridge Apartments is a lucrative opportunity for savvy investors. This will appreciate exceptionally well due to the exploding KU Med corridor as the hospital system continues to expand and reinvest. Lenders are standing by and want to lend on this asset (see supplements). The strategic location, adjacent to the thriving 39th St entertainment district, underscores the fast-appreciating value of this investment. With easy access to major arteries, including I-35, and proximity to downtown, Westport, and Country Club Plaza, Minnie Ridge Apartments offers both a quiet, vibrant community atmosphere and the potential for substantial returns.
  1. Listed by Alex Olson • XChangeCRE • 816-591-0825

Property Details for 4201 South Minnie Street

Zoning
MF

Location

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LISTING UPDATED: 04/22/2024 07:15 PM

Property Details for 4201 South Minnie Street

StatusActive
MLS #2469249
Days on Market101
Taxes$7,800 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1960
CountyWyandotte County

Location

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Building Information for 4201 South Minnie Street

Building/Complex4201 S Minnie StFloor-Stories3Residences7Pet Policy-Year Built1960Building Size-

Payment Calculator

$5,425 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,775

Property Taxes

$650

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 4201 South Minnie Street

Summary
Location and General Information
  • City: Kansas City
  • County Or Parish: Wyandotte
  • Directions: Off HWY 169 between W 42nd and 43rd Avenue. Property is at the corner of W 42nd and Minnie Street.
  • Latitude: 39.051231
  • Longitude: -94.618978
  • MLS Area Major: 405 - N=Ks Rvr;S=Jo Co Ln;E=StateLn;W=18th St
  • Postal Code: 66103
  • State Or Province: KS
  • Subdivision Name: Lombard Pk Add
Taxes and HOA Information
  • HOA Fee: $.00
  • Association Fee Frequency: None
  • Association: No
  • Tax Abatement YN: 0
  • Tax Special Amount: 0
  • Tax Annual Amount: $7,800.00
  • Parcel Number: 112410
  • Tax Annual Amount: $7,800.00
School Information
  • High School District: Kansas City Ks
Parking
  • Garage: No
  • Parking Features: Assigned, Off Street
  • Parking Total: 14.0
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Property
Lot Information
  • Lot Size Area: 7,405.00
  • Lot Size Source: Other
  • Lot Size Square Feet: 7,405.00
  • Lot Size Units: Square Feet
Property and Assessments
  • Construction Materials: Brick & Frame, Metal Siding
  • Documents Available: Financial Details,Lease Agreements,Service Contracts
  • Documents Count: 9
  • Age Description: 51-75 Years
  • FEMA 100 Yr Flood Plain: No
  • Legal Description: LOMBARD PARK ADD, S34, T11, R25, ACRES 0.17, B3 L1, N 1/2 L2
  • Special Documents Required YN: 0
  • Type Of Management: Off-Site Mgmt
  • Listing Agreement: Exclusive Right To Sell
  • Photos Count: 19
  • Year Built: 1960
Utilities
  • Sewer: City/Public
  • Utilities: Ind Heat And Air, Ind Water Heaters
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Package: No
  • Laundry Features: Inside, Utility Room
  • Road Responsibility: Public Maintenance
  • Roof: Metal, Other
Interior Features
  • Appliances: Dishwasher, Dryer, Refrigerator
  • Basement YN: No
  • Bathrooms Total Integer: 0
  • Unit Type Type: 2 Bedroom,Other Unit
  • Cooling: Electric
  • Central Air YN: Yes
  • Heating: Electric, Forced Air
  • Stories Total: 3
Multi Family
Multi-Family Information
  • Number Of Units Total: 7
Income & Expenses
  • Gross Income: $90,480.00
  • Maintenance Provided YN: 0
  • Operating Expense: $35,451.00
  • Operating Expense Includes: Accounting, Advertising, Utilities, Electricity, Exterminator, Legal, Maintenance, Permits, Insurance, Property Mgmt, Real Estate Tax, Refuse Collection, Water/Sewer, Supplies
Unit 1
  • Unit Type Unit Equipment: Hot Water Heater,Individual Dryer,Individual Washer,Range/Oven,Refrigerator
  • Unit Type Unit SQFT: 400
  • Unit Type Baths Total: 1
  • Unit Type Type: Studio
  • Unit Type Units Total: 2
Unit 2
  • Unit Type Unit Equipment: Dishwasher,Hot Water Heater,Individual Dryer,Individual Washer,Range/Oven,Refrigerator
  • Unit Type Unit SQFT: 1000
  • Unit Type Baths Total: 2
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 1
Unit 3
  • Unit Type Unit Equipment: Dishwasher,Hot Water Heater,Individual Dryer,Individual Washer,Range/Oven,Refrigerator
  • Unit Type Unit Rent Includes: Sewer,Water
  • Unit Type Unit SQFT: 800
  • Unit Type Baths Total: 1
  • Unit Type Type: 2 Bedroom
  • Unit Type Units Total: 4
Rental
Rent Information
  • Current Occupancy Rate: Over 95%
  • Deposit: Superior Ttle and Escrow
  • Existing Lease Terms: One Year Lease

Property History for 4201 South Minnie Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 4201 South Minnie Street

Taxable ValueLand$4,592Additions$43,363Total$47,955
Tax Record2023$7,789 ($649 / month)
Home Facts
Total Finished SqFt3,874 SqFtAbove Grade Finished SqFt3,874 SqFtStories2Lot Size7,187 SqFtStyleMulti-Family Res (5+ Units)Year Built1960CountyWYANDOTTEAPN112410

Schools near 4201 South Minnie Street

This home is within Kansas City School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Frank Rushton Elementary School
PublicPK to 5

Rosedale Middle School
Public6 to 8

J C Harmon High School
Public9 to 12

Gateway to College
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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4201 South Minnie Street is a multi-family home for sale in Kansas City, KS 66103. This property was listed for sale on January 17, 2024 by XChangeCRE, it's currently listed at $875,000. It has been on the market for a total of 101 days and was last sold on January 4, 2005. This listing's school district is Kansas City School District. Nearby schools include Frank Rushton Elementary School, Rosedale Middle School and J C Harmon High School. 4201 South Minnie Street is a 0-bed, 0-bath, multi-family home built in 1960.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of XChangeCRE

Based on information from one of the following Multiple Listing Services: Heartland MLS, South Central Kansas MLS, Sunflower Association of REALTORS, Lawrence Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Heartland MLS, South Central Kansas MLS, Sunflower Association of REALTORS , Lawrence Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.