Kansas City Opportunity Zone Multi-Family

[Nate Morris]

Investment Info:

Large multi-family (5+ units) commercial investment investment in Kansas City.

Purchase price: $545,000

Opportunity Zone, 18 unit Multi-Family with 12 2beds and 6 1bed. Currently renovating to include in-unit laundry, stone counters, stainless appliances and full kitchen bath remodel. Exterior work includes siding, paint, balconies, landscaping, parking lot and courtyard improvements.

What made you interested in investing in this type of deal?

The improving communities east of Rivermarket as well as the continued investments in Kansas City Med & Biosciences Grad school make Pendleton Heights a great up and coming neighborhood.

How did you find this deal and how did you negotiate it?

I found this deal off-market through my contacts at the Chamber of Commerce and my construction partners.

How did you finance this deal?

We financed this project through Brian Roby at ANB Bank with 25% down 7 year note 25 year amortization.

How did you add value to the deal?

We added value into the deal via underwriting, capitol raise, and project management. The Value-Add portion of the project is considerable given our Opportunity Zone requirements and the needed repairs to bring the project to full potential.