Independence Towers Listing Details & Market Data

728 Jennings Road, Independence, MO 64065

  • For Sale Auction Sale
  • Property Type Multi-Family
  • Property Size 72,766 SF
  • Units 123
  • Lot Size 1.7 Acre
  • Year Built 1963
  • Year Renovated 2023
  • Date Updated Feb 12, 2024
728 Jennings Road±123-unit multifamily property located in Independence, MO (Kansas City suburb) 11-story mid-rise tower presents a desirable assortment of studio, one, and two-bedroom apartment homes Significant value-add opportunity! Current occupancy stands at ±63%, whereas the Independence/East KC submarket boasts an impressive 95% occupancy rate Stabilized Proforma NOI: ±$940k/year New ownership can quickly renovate existing & down units, and bring online top-floor units with prime views of the Kansas City skyline Numerous underutilized common areas can be transformed into a modern fitness room, resident lounge, and other revenue-generating spaces The private and secure underground parking garage provides revenue opportunities through parking fees ±100,000 people reside within 5-miles of the property with average household incomes > $65,000/year

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Attachments

Highlights

  • ±123-unit multifamily property located in Independence, MO (Kansas City suburb)
  • 11-story mid-rise tower presents a desirable assortment of studio, one, and two-bedroom apartment homes
  • Significant value-add opportunity!
  • Current occupancy stands at ±63%, whereas the Independence/East KC submarket boasts an impressive 95% occupancy rate
  • Stabilized Proforma NOI: ±$940k/year
  • New ownership can quickly renovate existing & down units, and bring online top-floor units with prime views of the Kansas City skyline
  • Numerous underutilized common areas can be transformed into a modern fitness room, resident lounge, and other revenue-generating spaces
  • The private and secure underground parking garage provides revenue opportunities through parking fees
  • ±100,000 people reside within 5-miles of the property with average household incomes > $65,000/year

Contacts

broker

Steven Silverman

Friedman Real Estate

(248) 324-2000

Location

Getting Around

  • Walk Score ®

    Somewhat Walkable (63)

  • Transit Score ®

    Minimal Transit (15)

  • Bike Score ®

    Somewhat Bikeable (44)
Powered by Walk Score ®
  • City Independence, MO
  • Neighborhood Randall
  • Zip Code 64065
  • Market Kansas City

Points of Interest

  • Independence

    3.67 miles

  • Worlds of Fun Railroad Station

    7.16 miles

  • 7-Eleven

    0.43 miles

  • QuikTrip

    0.63 miles

  • QuikTrip

    1.52 miles

  • Sinclair

    2.83 miles

  • Hy-Vee Gas

    2.99 miles

  • Casey's General Store

    3.00 miles

  • QuikTrip

    3.21 miles

  • Phillips 66

    4.71 miles

  • Conoco

    4.73 miles

  • Phillips 66

    4.81 miles

  • G

    3.23 miles

  • F

    3.25 miles

  • D

    3.25 miles

  • C

    3.27 miles

  • E

    3.27 miles

  • B

    3.29 miles

  • A

    3.31 miles

  • M

    3.53 miles

  • J

    3.54 miles

  • N

    3.56 miles

  • Sonic

    0.13 miles

  • Taco Bell

    0.15 miles

  • Burger King

    0.18 miles

  • Hardee's

    0.35 miles

  • McDonald's

    0.43 miles

  • Church's Chicken

    2.49 miles

  • Sonic

    2.80 miles

  • Rheinland Restaurant

    2.81 miles

  • El Pico

    2.83 miles

  • Courthouse Exchange

    2.89 miles

  • Randall School

    0.36 miles

  • Randall Elementary

    0.43 miles

  • Wachter School

    0.85 miles

  • Elm Grove Elementary School

    0.94 miles

  • Cler-Mont Elementary School

    1.23 miles

  • Christian Ott Elementary School

    2.08 miles

  • Ott School

    2.09 miles

  • William Chrisman High School

    2.12 miles

  • Mill Creek Elementary School

    2.18 miles

  • Pioneer Ridge Middle School

    2.19 miles

  • Hanthorn Early Education

    3.41 miles

  • Kidding Around Child Development Center

    7.72 miles

  • La Petite Academy

    7.76 miles

  • Lakewood Kindercare

    8.03 miles

  • Early Childhood Education Center

    8.87 miles

  • Sonshine Day Care Center

    8.93 miles

  • Cotton Candy Daycare Center

    8.95 miles

  • Children's Choice

    9.07 miles

  • L&M Preschool-Daycare

    9.61 miles

  • Kinder Care Learning Center

    9.71 miles

Contact Listing Broker

broker

Steven Silverman

Friedman Real Estate

(248) 324-2000