About this home

4517 Forest is a 4-unit complex located just east of the Nelson-Atkins museum near the Country Club Plaza in Kansas City, Missouri. Located on a one-way street (Forest Avenue), the property is neighbored by vacant lots on each side (south lots owned by local development group) and street parking is provided to the tenants. The property boasts an emerging/gentrifying location near the shops on the Plaza, Westport, UMKC and the Art Institute. The neighborhood of Manheim Park has experience extensive revitalization recently anchored by the Troost Revitalization project stretching from 24th to 52nd Street. Its close proximity to many of the city’s main attractions make it a draw for tenants seeking a sense of history amongst urban life. New construction homes have been developed on the street and in the immediate neighborhood with plans for future development. The property is separately metered for gas and electric and has common water/hot water. All units at the property at two-bedroom, one-bathroom units with an approximate size of 800 square feet (+/-). The property has internal basement access in the front hallway as well as external rear access. All units at the complex feature window units, hardwood/vinyl/carpet flooring, decorative fireplaces, excellent storage (many closets) and tall ceilings. The property has a history of high occupancy with below market rents and has 3rd party management in place. New ownership can add value by remodeling kitchens & bathrooms, installing washer/dryer in all units and raising rents to market rates, or continue to manage the property as-is with small incremental improvements over time.