Address
109 E 40th Street, Kansas City, MO
Price
$ 2,150,000
Property Attributes
- MLS#2484685
- TypeMulti-Family
- CountyJACKSON
- CityKansas City
- Area202 - Kansas City Area
- Zip64111
- Style
- Year Built1924
- Taxes$ 10575
- Price$ 2,150,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size9,888 SqFt
Data Source:
Heartland MLS (HMLS)
Property Description
Brentwood Plaza is a stately, low-rise 30-unit apartment complex situated just off Main Street in a historic neighborhood near the Nelson-Atkins Museum, the Kemper Museum of Contemporary Art and the Kansas City Art Institute. The brick exterior building stands 3-stories with newer vinyl windows, TPO roof and parking lot on the west side providing tenants 12 off-street spaces. The building is comprised of 18 studio units with an approximate unit size of 390 square-feet (+/-) and 12 1-bed/1-bath units with an approximate unit size of 465 square-feet (+/-). Built in 1924, the property’s location is anchored by the Arts District as well as universities, hospitals, local shops/restaurants and businesses. It is well positioned to take advantage of its location next to multiple stops on Main (39th, 43rd, & 45th) of the KC Streetcar Extension line. The extension starts in the Crossroads at Union Station and continues south to UMKC at 51st and will be completed in 2025. The building is currently owner-operated with a history of high occupancy. Current ownership acquired Brentwood in April of 2023 and has made significant progress in raising rents 25%+ through moderate make-readies, updates to the common area hallways/stairwells (paint, flooring & fixtures) and the implementation of utility fees to 80% of the units ($55). Other major expenditures include a 30th unit being put back into service (previously laundry room) with more modern finishes, a new sewer line section and updates to all plumbing valves. All units at the property have window units for cooling and radiator heat, mostly hardwood floors (some LVT), functional floorplans, good closet space, vinyl windows and keycode entry. The building is separately metered for electric and is on a common gas boiler.
| Price History | |
|---|---|
| 4/23/2024 | Listed $2,150,000 |
General Features
| Sewer | City/Public |
|---|---|
| Heating | Hot Water,Radiant |
| Cooling | Window Unit(s) |
| Utilities | Cent Water Heater,Separate Meters |
| Roof | Synthetic |
| Zoning | R-1.5 |
| Construction Materials | Brick |
| Year Built | 1924 |
| Property SubType | Apartment |
| Assoc Fee Paid Per | None |
| County | Jackson |
| Property Type | Residential Income |
| HOA / Comm Assn | No |
| Subdivision Name | Other |
| Garage Y/N | No |
| Status | Active |
| Directions | See offering memorandum in supplement for more info. Occupied rental property with 3rd party management. Listing agent and/or management must be present for tours. No BrokerBay. Please call agents fo |
| City | Kansas City |
| High School District | Kansas City Mo |
| Total Units | 30 |
| MLS Area | 202 - Kansas City Area (So. of River) |
| Lot Size Square Feet | 9888 |
| Street Name | 40th |
| Listing Terms | Cash,Conventional,1031 Exchange |
| Public Remarks | Brentwood Plaza is a stately,low-rise 30-unit apartment complex situated just off Main Street in a historic neighborhood near the Nelson-Atkins Museum,the Kemper Museum of Contemporary Art and the Ka |
| Standard Status | Active |
| In Flood Plain | No |
| HMS_MaintenanceProvidedYN | No |
Interior Features
| Total Stories | 3 |
|---|---|
| Basement (Y/N) | Yes |
| Air Conditioning Y/N | No |
| Street Suffix | Street |
| Laundry Features | In Basement |
| Unit Type | 1 Bedroom,Other Unit |
Exterior Features
| Parking Features | Off Street |
|---|---|
| Water Source | Public |
| Total Parking | 12 |
| Lot Size Area | 9888 |
| Lot Size Units | Square Feet |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 64111
Price
Taxes
Visits
Year Built
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