3712 E 47th Ter
- 162 units with 93% one-bedroom mix averaging 490 SF
- In-place rents ~$660–$700 with ~$250/unit monthly upside supported by comps
- Assumable ~$4.8M loan at 3.7% interest, maturing 2030
- Long-term ownership with strong maintenance history and stable operations
- Walkable location near transit, grocery, healthcare, parks, and major redevelopment
Property Description
Plaza Hill Manor presents a rare opportunity to acquire a stabilized 162-unit workforce housing community in Kansas City’s Oak Park Southeast neighborhood with attractive assumable financing in place. The property carries approximately $4.8 million of existing debt at a 3.7% interest rate, fixed through 2030, providing a significant cost-of-capital advantage in today’s lending environment. Long-term ownership has maintained consistent occupancy and operations, while rents remain materially below market benchmarks. With meaningful rent upside and direct exposure to ongoing corridor redevelopment, the asset offers both immediate yield support and long-term appreciation potential.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $9,250,000 |
| No. of Units: | 162 |
| Year Built: | 1950 |
| Lot Size: | 5.32 Acres |
| Opportunity Zone: | No |
| Price per unit: | $57,099 |
| Property Website | Click Here |
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