Listed By:
Compass Realty Group
Address
109 E 40th Street, Kansas City, MO
Price
$ 2,040,000
Property Attributes
  • MLS#2484685
  • TypeMulti-Family
  • CountyJACKSON
  • CityKansas City
  • Area202 - Kansas City Area
  • Zip64111
  • Style
  • Year Built1924
  • Taxes$ 10575
  • Price$ 2,040,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size0.226997 Acres
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
6/6/2024 6% - $2,040,000

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
NumberOfUnitsTotal 30
MLS Area 202 - Kansas City Area (So. of River)
Lot Size Units Square Feet
Lot Size Square Feet 9888
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
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

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
AVG $800K
$2.04M
Taxes
AVG $8,067
$10,575
Visits
AVG 285
298
Data Provided by Inside Real Estate®
Year Built
AVG 1925
1924