- Charming Historic Conversion Offering Unique Loft-Style Units
- Compelling Value-Add Opportunity with Proven Rent Upside
- Vibrant and Walkable Location with Excellent Connectivity
- Transit-Oriented Locale with Adjacent Streetcar Stops
- Attractive Assumable Debt with Favorable Terms
- May Be Combined for 422 Units Total Across Three Missouri Assets
- Surrounded by New Construction
Charming Historic Conversion Offering Unique Loft-Style Units
The Landings at River Market comprises three historic buildings, Askew Saddlery, Volker Place, and Pacific House, each showcasing the timeless architectural character of Kansas City’s rich history. These former industrial warehouses have been thoughtfully reimagined as contemporary loft residences, blending historic charm with modern functionality. With features such as exposed brick walls, soaring wood-beamed ceilings, and expansive windows, the property delivers a distinctive living experience that resonates with today’s renters. Beyond the loft interiors, the community offers a truly urban lifestyle, seamlessly integrated into the vibrant fabric of the River Market District, with direct streetcar access and unparalleled proximity to Kansas City’s most dynamic destinations..
Compelling Value-Add Opportunity with Proven Rent Upside
Current ownership has renovated most of the asset to a standard level that consists of upgraded cabinets, black appliance, updated counter tops and LVP flooring. 22 of the units (~16%) have undergone further renovations featuring granite countertops, tiles backsplashes, and stainless-steel appliances. These enhanced units have been well-received, achieving average rent premiums of around $200 over non-renovated units. By implementing similar upgrades to the remaining units as well as moving rents closer to comparable properties in the submarket, investors can capitalize on significant additional rental income of nearly $590,000 annually and further enhance the property’s value.
Vibrant and Walkable River Market Location with Excellent Connectivity
Situated in the heart of Kansas City’s River Market district, The Landings offers residents unparalleled access to a diverse array of dining, shopping, and entertainment options. The historic City Market, the region’s largest farmers market, is just steps away, providing fresh produce and local goods year-round. With a Walk Score of 88 (source: Walkscore.com), residents can easily explore the neighborhood’s eclectic mix of restaurants, bars, cafes, and boutique shops, all contributing to a lively urban lifestyle.
In addition to its walkability, The Landings benefits from exceptional highway connectivity, with immediate access to major interstates, including I-70, I-670, I-35, and I-29. This strategic location allows for seamless travel across the Kansas City metro, further enhancing convenience for residents and broadening the appeal of the property to urban professionals.
