REO Sale: Gabriel Tower Apartments | 126-Units | Kansas City, MO

Initial Offers Due Friday, July 31st. All interested parties should submit their initial offers by this deadline for seller review.

Investment Highlights

• 126-Unit Senior Designated Community: Project-Based Section 8 contract covers 124 of 126 units 
• Option 2 HAP Renewal Pending: Six-month renewal submitted to HUD; buyer to secure long-term Renewal at HAP Assignment.
• 2004 LIHTC Renovation, Compliance Period Ended 2018: Located in a Qualified Census Tract and eligible for immediate resyndication
• $1.4M+ Capital Program: $740k+ completed since takeover; Additional $700k+ planned by year-end across systems and interiors.
• HAP Rents 24–30% Below Market: Average Rents 24% below market as-is and 30% below 150% of SAFMR 

Offering Summary

RealINSIGHT Marketplace, in partnership with SVN Affordable | Levental Realty, is pleased to present Gabriel Tower Apartments, a 126-unit senior-designated multifamily property located in Kansas City, Missouri, offered Free and Clear and As-Is/Where Is. Gabriel Towers is a 126-unit senior-designated property with a Project-Based Section 8 HAP Contract covering 99% of the units. A six-month Option 2 HAP Renewal has been submitted to HUD (pending approval), with the expectation that the incoming buyer will secure a long-term Option 1 HAP Contract in connection with the HAP Assignment. Renovated in 2004 using Low-Income Housing Tax Credits, the initial Tax Credit Compliance Period ended in 2018. Average HAP rents are 24% below market on an as-is basis and 30% below 150% of Small Area FMR. The property is located in a Qualified Census Tract and is eligible for immediate LIHTC resyndication. Since takeover in April of 2025, capital expenditures total more than $740k, with another $700k+ to be completed by year-end. Completed/planned improvements include critical and non-critical repairs such as elevator modernization, roof repairs, general fire safety, HVAC replacements, common area updates, and unit interior renovations (flooring, kitchens, bathrooms, and fixtures) as needed. Situated on 1.91 acres, the nine-story elevator-serviced apartment building has reinforced concrete frame construction, a concrete slab-on-grade foundation, brick veneer exterior, and a flat EPDM roof with rock ballast. The unit mix consists of (123) one-bedroom units and (3) two-bedroom units. Tenants are responsible for electric, and the owner pays for gas, water, sewer, and trash collection. Site amenities include off-street surface parking, outdoor picnic area with grills, central laundry facilities, community room with kitchen, security (patrol and cameras), and resident service coordination.