3035 Harrison Street, Kansas City, MO 64109

Property Description

This is the Midtown investment buyers have been waiting for. Harrison Haus is a beautifully renovated 43-unit apartment community in the heart of KC offering the rare combination of strong operations, extensive capital improvements, an irreplaceable central location and highly attractive assumable debt at just 3.22%.Located at 3035 Harrison St in the Longfellow/Union Hill corridor, Harrison Haus sits immediately east of Crown Center and Hospital Hill and steps from Martini Corner. The property has undergone substantial renovation throughout, creating a clean, modern and professionally finished asset that shows exceptionally well. Unit interiors, common hallways and interior spaces have been renovated, while major capital items including the roof, electrical, plumbing and windows have already been done. The heavy lifting has been done! Built in 1926, the classic all-brick building contains 43 doors consisting of 24 studios and 19 one-bed units, an ideal mix for this urban, walkable location. The property also features approximately 30 dedicated off-street parking spaces, individually metered electric, central HVAC, RUBS utility reimbursements and on-site laundry. Strong occupancy demonstrates continued demand for these efficiently sized units and central location.The nearby 31st Street/Union Hill KC Streetcar stop provides tenants car-free access to Crown Center, Hospital Hill, the Crossroads, Downtown, Midtown, Westport, the Country Club Plaza and UMKC, greatly expanding connectivity to major employment, entertainment, dining and education. The investment offers strong in-place cash flow with additional rental upside, allowing a new owner to acquire an already stabilized and extensively improved property without sacrificing future growth potential. Perhaps most compelling is the assumable financing at an exceptional 3.22% interest rate. In today's environment, this below-market debt can provide a significant cash-flow advantage over new acquisition financing.