MENU

The Drake

Apartments

71 Units | Built 1947

Investment Highlights

  • Prime Location in West Plaza – Just Off the Country Club Plaza
  • Over $3M in Exterior & Interior Renovations Recently Completed
  • Proven, Value-Add Program Generating Significant Monthly Rent Premiums
  • Competitors in the Submarket Have Achieved Monthly Rents That Exceed Those of the Subject Property by More than $1,000
  • Close Proximity to Major Employers, Universities, Leading Area Hospitals, and Nationally Recognized Research Foundations
  • Offered Free & Clear or Subject to Assumption of In-Place Freddie Mac Loan

The Opportunity

Berkadia Mid Market's Team is pleased to present the exclusive opportunity to acquire The Drake Apartments, a multifamily community that sits just a short walk from the Country Club Plaza. The Drake is a 71-unit community made up of three smaller communities, offering tenants three individually branded properties – The Drake, The Mercier & Holly 20 – from which to choose. The #1 most important criteria multifamily investors say they are looking for in potential investments is location. The surrounding neighborhood will determine more about the strength of tenants and the potential future rents than just about any other factor. The location of The Drake Apartments - just West of the Country Club Plaza, South of Westport and surrounded by the city's strongest employers, hospital systems and colleges - is the exact type of limitless entertainment, education, & employment options for which all investors are looking.

THE PROPERTY

UNIT Amenities

  • Hardwood Floors
  • Washer/Dryer*
  • Gas Range
  • Patio/Balcony*
  • Air Conditioner
  • Ceiling Fan
  • Dishwasher
  • Disposal
  • Electronic Thermostat
  • Large Closets
  • Microwave*
  • Refrigerator
  • Window Coverings

*Select Units Only

COMMUNITY Amenities

  • Off Street Parking
  • Controlled Access
  • Historic Building
  • 24 Hour Maintenance
  • Courtyard
  • Public Transportation

THE LOCATION

ECONOMIC SNAPSHOT

Document Center

Click on Documents Below to Register

CONTACT US

Investment Advisors

BRETT MEINZER

Director

brett.meinzer@berkadia.com

816.759.0366

DOMINIC MARTINEZ

Associate Director

dominic.martinez@berkadia.com

816.759.0368

MICHAEL SULLIVAN

Senior Director

michael.sullivan@berkadia.com

816.759.0369

ALEX BLAGOJEVICH

Senior Managing Director

alex.blagojevich@berkadia.com

312.845.3088

Financing

KANSAS CITY OFFICE

4800 Main Street, Suite 501

Kansas City, MO 64112

816.531.2884 | Fax: 816.531.6188

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry.   This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 

©2019 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx