Turnkey 5plex with value-add Kansas City For Sale

  • $350,000
  • 6 beds
  • 6 baths
  • 3927 sqft

This property was built as a single family dwelling in 1930.  It was converted to a 5 unit multi-family unit in the 1980’s and has been used as 5 units – zoned R-5 Multifamily.

Turnkey – 5 units rent ready.  2 units on the main floor.  2 units on the 2nd level.  1 unit on the 3rd level.

Value Add 6th Unit – The lower level walkout basement is a potential 6th unit. The basement already has partial finishes, wiring, a half bathroom that is stubbed for a full bathroom.   It needs to be completely for the unit to be rent ready.

Currently the 5 units make up 3,327 sqft of living area.  Finishing the 6th unit will add approx 600 sqft of living space bringing the total up to approx 3,927 sqft.


Capital improvements within the past 5 years include exterior paint, roof, windows, plumbing, electric, HVAC, along with several interior cosmetic updates such as tiled floors and backsplashes.

Attached 1 car garage is currently used as maintenance storage. Can be rented separately or with one of the units for additional income. Shared laundry on site for tenants use.  Additional large shed on site for owner or tenant storage. Property has private driveway with room for 3-4 parking spaces behind the building.

Current Units & Rent status:

1N: 1 bed 1 bath, occupied at $1500/mo, month to month lease

1S:  1 bed 1 bath currently vacant.  Previously rented at $950/mo

2E:  1 bed 1 bath, occupied at $1,102/mo on a 12 month lease starting July ‘23 with an annual renewal option.
Tenant receives partial assistance from Section 8 (Housing Authority).

2W: 2 bed 1 bath with non-confirming 3rd bedroom, currently occupied at $1102/mo on a 12 month lease with an annual renewal.
Tenant receives partial assistance from Section 8 (Housing Authority).

3:  1 bed 1 bath currently occupied at $950/mo, month to month lease

B:  The walk-out basement can be turned into a 6th living unit that’s 1 bed 1 bath and approx 600 sqft.  This unit can include the attached garage for higher rent potential.

Utility Meters: 1 water meter, 1 gas meter, 3 electric meters.
Owner Paid Utilities : $1065/mo avg last 12mo.


Market rent $1,102 per unit (per Housing Authority, 1bd/1ba units w/ utilities paid KCK HA Website

$1,102 X 6 units = $6,612 market rent potential per month if using all units for LTR (long term rental)

We suggest AirDNA to help forecast performance under the Short Term Rental model.



$6612/mo market rent potential finishing 6th unit

$1200-1400/mo Owner Paid Utilities

$5212 gross effective rent after utilities

350k purchase + 25k finish 6th unit (approximate)

375k approx total investment

$1562 property taxes for 2022

$1700-2000 insurance quotes from NREIG insurance group


Brokers/Agents welcome with your pre-qualified loan or CASH Buyers!!
Call now to secure this property!

Maddy Morell
Agent – United Real Estate Kansas City


*These are projections only performance is not guaranteed.  All investments have risk and investors should do their own due diligence.

3 McGrew Grove
Kansas City, KS 66101
Square Feet:
Lot Size:
For Sale
Property Type:
Year Built:
Partially Finished - Walkout

Additional Features

1 car garage attached - Private drive with off street parking - Laundry on site - Walk out basement can be finished into 6th unit - Detached storage shed

Call (816) 406-0044 for more details

Property Location