Suncrest Apartments

RaytownRecent renovations have been undertaken on 80% of the property, providing the new owner with a substantial buffer against future capital expenditure expenses. The new owner will find the opportunity to realize value add potential by finalizing the remaining renovations and stabilizing the property. Currently, lease-up efforts are underway following the completion of renovations, with an impressive average rent of $817 per unit and potential for further growth. The property boasts a well-balanced mix of 2-bedroom and 1-bedroom units, featuring four distinct floor plans that cater to a diverse tenant base. Although currently unused, the existing on-site pool and outdoor community space offer the potential for additional amenities, enhancing tenant attraction and potential rental increases compared to neighboring communities. This opportunity is ideal for a new owner looking to secure a long-term hold strategy with a great basis. Raytown, Missouri provides an appealing suburban environment complemented by convenient access to downtown Kansas City and its expanding attractions. Situated near the intersection of I-70 and I-435, as well as served by multiple city bus routes, Raytown offers seamless connectivity to downtown KC. The city is positioned for ongoing growth, with a projected population increase of 2% and a rising proportion of residents opting to rent. The median income stands at $55,940, and the largest portion of households within the $75,000 to $100,000 income range. Raytown's strategic location and favorable demographics make it a promising investment destination with a blend of suburban charm and urban accessibility.