Marcus & Millichap’s Deal of the Week

Marcus & Millichap has arranged the sale of a nine-building, 207-unit apartment complex in the Northland for $13.8 million. The Hills, located in North Kansas City just east of Highway 69, sold for approximately $66,700 per unit.

“The Hills has been well maintained since its construction in 1972 and in the last three years the property received nearly $6 million in capital upgrades,” says Brad Barham, sales manager of Marcus & Millichap’s St. Louis office and the firm’s broker of record in Missouri. “The extensive renovations created substantial value and above-average rental growth.”

Apartments at The Hills feature gated entry, new interior doors, a new kitchen appliance package, granite countertops and new cabinetry. Community amenities include a new clubhouse, 24-hour fitness facility, a media room, billiards, on-site management, a resort-style outdoor pool with sundeck, a dog park, and a playground and barbecue areas. The property is located near the Englewood retail corridor and is less than 10 miles from both downtown Kansas City and Kansas City International Airport.