


The Bluffs
7005 N Bales Avenue, Gladstone, MO
138
Units
Acquisition Date:
Overview
The Bluffs is a 138 unit multifamily community in Kansas City’s Northland, located in a resilient workforce housing submarket with consistent occupancy and a durable rent base. Units average approximately 950 square feet, with amenities including a swimming pool, clubhouse, laundry facilities, and outdoor space. Most units remain in classic condition, providing clear value add potential through interior modernization while maintaining attainable rents. The business plan includes targeted amenity, common area, and exterior improvements, and the asset is already outperforming expectations with forward looking NOI of approximately 850,000, exceeding original projections. Situated in Clay County, the metro’s leading employment growth area, and supported by major regional employers, The Bluffs is well positioned for continued rent growth. The acquisition was financed with a 7.5 million Fannie Mae loan featuring a five year fixed rate at 5.16 percent and three years of interest only, supporting strong early cash flow and long term value creation.
Location