Elliott Place Retirement Community Plan II 9540 E 75th St Soins de santé 5 263 m² À vendre Raytown, MO 64138 7 913 700 € (1 503,66 €/m²) Taux de capitalisation 7,91 %

The Offering
As the exclusive representative for the seller, MMG Real Estate Advisors is pleased to offer the opportunity to purchase Elliott Place Independent Living. Built in 1997, this independent living community (restricted to seniors aged 55+) is comprised of 92 units conveniently located near the amenities of Kansas City, MO. Elliott Place Independent Living is an exceptional, stabilized asset that is positioned in a highly desirable location with limited competition. Priced at $9MM, Elliott Place offers a strong in-place yield with a current (T3) cap rate of 7.91%.
Market Rate Senior (55+) Community in a Low Competition Submarket.
In recent years, research shows the population of senior citizens has expanded significantly as the number of residents in the 55+ age group increases. The Raytown submarket only has only two existing 55+ market-rate properties over the 75-unit threshold, totaling just under 200 units (including Elliott Place). Moreover, Kansas City, MO, features a total of 38 market-rate senior properties, encompassing 6,567 units in complexes with more than 75 units across the entire metro area. With a 55+ population of approximately 657,119 in the Kansas City MSA (Raytown included), the demand outweighs the supply of strongly amenitized, age-restricted housing.
Primed for Value-Add Implementation Through Interior Modernization
With largely original, vintage interior finishes, Elliott Place is primed for an outstanding opportunity to achieve rent upside of $100+ per unit monthly with moderate interior upgrades. Upon completion of moderate cosmetic upgrades, including kitchen countertop and backsplash areas, cabinet pulls, plank flooring, updated fixtures and lighting packages, new ownership will have the remarkable opportunity to significantly push gross annual rental income by $150,000+. Additionally, new ownership will benefit from all new roofs in 2025, reducing near-term capital expenditure needs and enhancing long-term asset durability.
Significant Demand for Affordable, 55+ Independent Living Housing
The U.S. active adult (55+) community market size was valued at $565.3 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.01% from 2022 to 2030. Increasing demand from baby boomers, reduction in the stigma of retiring, and growing interest of investors in senior living facilities are driving the market. Additionally, many 55+ workers elected to retire early due to Covid-19, which has led to increased demand in the short-term as well.
Robust Amenities Package and Unique Features
Elliott Place offers a wide array of amenities for residents to enjoy. Residents can enjoy a social room with a fully equipped kitchen where tenants can mingle. The property also boasts a beautiful pond and lively walking paths throughout the 18-acre campus, providing a serene and independent lifestyle. Individual units are filled with amenities, including open floor plans, large walk-in closets, walkout terraces and private entrances, as well as spacious kitchens.
Prime Location with Amenities for Active Seniors
It’s been said that location is everything, and for tenants at Elliott Place, that couldn’t be truer. Nestled in the heart of Raytown, this community benefits from a prime location with easy access to essential amenities, healthcare facilities, and recreational options. The property also sits just minutes away from Walmart, Hy-Vee Grocery, ALDI, and Walgreens. Seniors can enjoy an active lifestyle while living in a tranquil and secure environment, making it an appealing choice for potential residents.
Tax Abatement Benefit that Runs Through 2031
Elliott Place features a tax abatement that runs through 2031 allowing for improved cash flow! The asset benefits from an abatement of 50% of the real property taxes on the assessed value. This additional benefit helps bolster extremely strong in-place cash flow.
Offered Free & Clear or with Assumable Financing
Elliott Place is available either free and clear or with attractive in-place assumable financing. The existing non-recourse loan features a competitive 4.96% fixed interest rate, a remaining term of over 1.5 years, and a 30-year amortization schedule, providing investors with flexibility and the potential for immediate financing certainty