13-unit apartment complex located in the South Hyde Park neighborhood of Kansas City, Missouri. Building stands 2.5 stories with a freshly painted brick exterior and all new decks, windows and roof. The property provides a newly asphalted parking lot at the rear (10 spaces) as well as ample on-street parking. Neighboring the property directly to the south are three newly constructed duplexes (2019) with rents exceeding $2,200/unit & a recently developed 9-plex (2024). The building is separately metered for gas & electric and has common hot water (multiple tanks in sequence). Tenants are responsible for gas and electric while landlord pays water & trash. Current ownership acquired the property in January of 2023 and completed an extensive shutdown renovation finishing in August of 2024. Significant exterior/interior capital expenditures were completed over the 18 months including a new retaining wall, new exterior stairs/handrails, updated landscaping, all new furnaces, new HVACs (3), new sidewalks (where needed), updates to common area hallways, new staining, electrical & plumbing updates, new panel boxes, new soffits and new exterior light fixtures (see full scope in OM).
3909 Kenwood has a great unit mix consisting of 6 two-bedroom units, 4 one-bedroom units, 2 studio units and 1 three-bedroom unit. There are multiple floorplans for the units including a 2-story one-bedroom unit. All units underwent uniform renovations consisting of all new appliances (stainless steel), installation of washer/dryer (all units), knock down finish on ceilings, new French doors, faux wood blinds, new cabinet fronts, granite countertops, updated kitchens/bathrooms and new LVP/carpet flooring. All units have central air, Google Fiber, private balconies/patios, separate dining rooms, ample closet space, scenic views and excellent natural lighting. The building is stabilized with 3rd party management in place. The basement of the building provides private storage lockers for tenants.