Address: 1401 S Cunningham Ave, Independence, Missouri, US
Created date: September 5, 2023
Date last updated: September 5, 2023
Well Positioned for Value-Add Implementation ($162/Unit in Potential Rent Upside)Attractive Unit Mix with Spacious 1 & 2 Bedroom UnitsOpportunity to Achieve Immediate Scale at a Great BasisExcellent Access to Neighborhood Retail and AmenitiesAttractive In-Place Assumable Debt (3.03% Interest Rate)Well Positioned for Value-Add Implementation ($162/Unit in Potential Rent Upside)
The Hudson Apartments presents an exceptional opportunity for new ownership to implement value-add strategies and realize significant rent premiums underwritten at $162/unit over the current effective rents. With well-designed renovations and upgrades, there is substantial potential to elevate the units to top-of-market levels and generate remarkable upside on the investment.Attractive Unit Mix with Spacious 1 & 2 Bedroom Units
The Hudson Apartments feature a highly desirable unit mix consisting of spacious 1 and 2 bedroom units. These unit configurations cater to the needs of a wide range of renters, from young professionals to small families. The availability of these well-designed units enhances the property’s appeal and marketability, attracting a diverse tenant base.Opportunity to Achieve Immediate Scale at a Great Basis
The Hudson Apartments offers immediate scale in the Independence, MO market. With a total of 253 units, this property provides substantial scale that can efficiently be managed for enhanced economies of scale. The ability to acquire a property of this size and quality is a rare opportunity for investors looking to establish or expand their presence in the market. Further, there is the opportunity to pick up an additional 113 units in the same submarket by purchasing the asset as a portfolio with Meadowbrook Apartments.