7504 Wyoming St
Kansas City, MO 64114
Meadow Lake Plaza · Build-to-Rent Property For Sale · 9 Units

Built in 1966, Meadow Lake Plaza is an attractive 9-unit apartment complex located in the highly desirable Ward Parkway neighborhood in Kansas City, Missouri. Area Vibes, an online platform using a livability algorithm, shows Ward Parkway as the #1 neighborhood in Kansas City, MO based on nearby amenities, cost of living, crime rates, education, employment, housing and weather. The subject property’s close proximity to Ward Parkway Boulevard and the popular Waldo District provide both easy access and desirable surrounding amenities. Commercial retail, bar and restaurant business in the Waldo District have a great influence in the area surrounding Meadow Lake Plaza. The complex stands 2-stories with an attractive brick exterior featuring balconies (6) and eight (8) oversized, single-car garages, a unique amenity for apartments of this size in the area. Half of the garages are located at the front (east side) of the building, while the other half are located at the rear along with a carport space. Of the 9 units at Meadow Lake Plaza, 8 are two-bedroom/two-bathroom units with an approximate unit size of 950 sf (+/-). The remaining unit, located in the basement, is a 1-bedroom/1-bathroom unit with an approximate unit size of $700 sf (+/-). Tenants can access the complex via their individual garages or through the two secured exterior doors at the north and south sides of the building. Meadow Lake Plaza’s basement stretches the length of the building and features storage lockers, common area stairwells, common laundry (coin operated) for the basement unit and the quad of enlarged garages. The property is separately metered for gas and electric and has multiple hot water tanks that work in sequence. In 2018 the property ownership began a unit-by-unit renovation, Units individually were taken out of service, with the exception being the basement unit (1-bedroom). The scope of work completed varied for each individual unit with the renovations scheduled to be completed in December of 2019. All 2-bedroom units at the complex feature new in-unit laundry, all new stainless appliances, newly refinished hardwood flooring (7 units) and LVT vinyl flooring (1 unit), new paint, new breaker panels, central air, dishwashers, dining rooms and forced air gas furnaces. Select units feature new lights, fans and fixtures, new blinds, painted/new cabinets, new shower tubs and tile, granite, repaired/replaced balconies, and automatic closet door lights. The basement 1-bedroom units features carpet flooring, a large den, central air, a full set of kitchen appliances, access to common laundry, and is all utilities included. Tenants are responsible for gas and electricity and the landlord is responsible for water and trash. Meadow Lake Plaza is a non-stabilized asset with two (2) units yet to be put back into service/leased. The two (2) vacant units are scheduled to be completed at the beginning of December 2019 and will be marketed at $1,095.