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Flats on 39th 2 Multifamily Properties Offered at $4,400,000 in Kansas City, MO
Investment Highlights
- Fully occupied, income-producing 29-unit building (119) offsets carry costs while 115 is renovated
- Separate parcels support a low tax basis on 115, easing the path to Missouri and federal Historic Tax Credit eligibility
- Blended price of $73,333/unit reflects one finished building and one legacy building; seller will consider offers on individual buildings
- Steps from Main Street and the 39th Street streetcar stop, in a corridor with active reinvestment
- Each building includes a bonus office/lobby space convertible to a 30th unit, bringing the portfolio to 60
Executive Summary
The Flats on 39th Street is a 60-unit, two-building portfolio in Midtown Kansas City, walkable to the 39th Street streetcar stop; 58 units are in service today, with 2 more a straightforward build-out away. 119 W. 39th Street is fully renovated and cash-flowing, with over $2M invested in new electrical, plumbing, sewer, foundation, and interiors. 115 is its structural twin, positioned for renovation eligible for Missouri and federal Historic Tax Credits.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $4,400,000 | Number of Properties | 2 |
| Price / SF | $148.75 / SF | Individually For Sale | 0 |
| Cap Rate | 6.96% | Total Building Size | 29,579 SF |
| Sale Type | Investment | Total Land Area | 0.36 AC |
| Status | Active |
| Price | $4,400,000 |
| Price / SF | $148.75 / SF |
| Cap Rate | 6.96% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 29,579 SF |
| Total Land Area | 0.36 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
The Flats on 39th
119 W 39th St, Kansas City, MO 64111 |
Multifamily | 15,579 SF | 1924 | - |
| 115 W 39th St, Kansas City, MO 64111 | Multifamily | 14,000 SF | 1925 | - |
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Flats on 39th