Active
109 E 40th Street
Kansas City MO, 64111
$2,150,000
Active
Condo
Built in 1924
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.
2484685
MLSⓇ ID
April 23, 2024
Listed
May 9, 2024
Updated
Map
109 E 40th Street
Kansas City MO, 64111
Interior Features
Total Stories
3
Laundry Description
In Basement
Fireplace
No
Cooling
No
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Hot Water, Radiant
Exterior/Building Features
Lot Size
0.23 Acres
Roof
Synthetic
Sewer
City/Public
School Information
School District
Kansas City Mo
Other Property Details
Area Name
202 - Kansas City Area (So. of River)
Garage
No
Parking
Off Street
Parking Total
12
View
No
County
Jackson
Water Source
Public
Pool
No
Zoning
R-1.5
Buyer Agency Compensation
2%
Courtesy of Compass Realty Group, Brice Bradshaw, Parker Beck
Listing Contact: 913-219-7074
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Data last updated: 5/9/2024, 9:29 AM UTC