Historic Northeast Kansas City

[Michael Magnell]

Hey BP - how do Kansas City investors feel about the Historic Northeast right now? Specifically MF in Pendleton/Scarritt.

During my last diligence trip to KC it seemed like things were starting to turn, but some of the locals said it’s still a chaotic area with major drug and crime problems. I found it hard to believe given how beautiful and well kept some of the homes were (talking north of Independence and west of Van Brunt). Proximity to downtown is unreal - 10 minute Uber ride.

Also, I’m trying to figure out if there is enough of a quality tenant population to fill all of these newly rehabbed buildings in the same area. I’d hate to step into a major unit supply overflow issue causing downward pricing pressure on achievable rents.

Looking forward to hearing what folks have to say!

[Logan Freeman]

Stay north of Independence Avenue and West of Kensington.

We have completed a lot of projects in the area and under contract for another one right now. @Michael Magnell let me know if I can be of help, as I am looking at multi's in the area all the time and have 2 or 3 property managers that you could chat with about their experiences as well. I personally like the area, and think it is a great location - if you are on the right side of the tracks. Like many areas in KC - you need to walk it beforehand (or have your team walk it). I can also share some appraisals with you that I have recently completed as well!

Happy to chat more.