Royal Park Apartments

Substantial Recent Capital Investment of $2.5MM+ 

Recent capital expenditures undertaken by previous and current ownership have brought about substantial enhancements to Royal Park, establishing a robust foundation for a new investor to further reposition the asset. From 2018 to 2019, ~$2.5MM of capital was injected into the property. The transformative project included interior and exterior updates, new mechanical systems, luxury unit finishes, amenity improvements, and more. Unit upgrades at Royal Park include new cabinetry, stainless steel appliances, LVP flooring, granite countertops, new fixtures, and in-unit W/D. These significant enhancements will enable new ownership to experience minimal maintenance requirements, allowing them to concentrate on operational aspects.

$55,000+ in Loss to Lease Upside Potential

By minimizing the difference between the current effective rents and market rents, investors can amplify their monthly rental income and bolster overall cash flow. At Royal Park, effective rents currently amount to $1,004, trailing behind market rents of $1,107. Bridging this gap, totaling over $55,000 annually, will result in a significant increase in net rental income.

Prime Highway Access to Kansas City Metro, Major Employers, and New Development

Located just east of US Highway 169 and minutes from Kansas City’s $1.5B newly completed international airport, Royal Park benefits from prime proximity to key employment drivers and growth opportunities. The nearby KCI 29 Logistics Park, spanning 2,136 acres, is projected to create 9,000 jobs and generate $450MM in annual payroll, further bolstering tenant demand. Additionally, the property’s location provides residents with swift access to Downtown Kansas City, just a 10-minute drive away, offering convenience for both work and leisure.