For Sale $2,995,000
Property Type Multi-Family
Units 42
Date Updated Nov 4, 2023

○ Class A Sub Market - Prime midtown location; one of the hottest sub markets in Kansas City ○ Blocks from the new 2.1mile KC Streetcar extension stop ○ Next door to Penn Valley Metropolitan Community College ○ Near major employers in all sectors - service, tech, medical, arts, education, financial, etc… ○ Tenants can walk to all things midtown has to offer - food, work, nightlight, parks, etc… ○ Near millions of proposed and in development multifamily and mix use developments along Broadway and Main ○ Located near the Cultural Epicenter Of Kansas City ○ Fantastic Demographic Region –young, educated and affluent Professionals○ Stunning location with millions in new development nearby along with mix of fully renovated units ○ Blocks from $300mm streetcar extension ○ Exterior rehab completed ○ Opportunity to capture $200+ per unit in upside ○ True Value-Add Potential with Major Exterior Rehab complete allowing the units to be renovated and cosmetic exterior improvements for much higher rents ○ Early Discussions with MCC about renting parking space right next door for added value ○ Great studio layout for spacious feel ○ Tons of Cap Ex injected into the property structure and maintenance ○ Quality rents with great opportunity to push rents higher as units turn (see rent study) ○ Washer and dryer facilities on site ○ Recent RUBs bill-back program implemented

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Attachments

Broadway 42 - OM.pdf (PDF) opens in new window

Highlights

Baseboard heat, window cooling
Laundry facilities on site
Off street parking for 5 or 6 vehicles
Potential opportunity for tenants to rent parking from MCC
Appliance package includes gas stove, refrigerator, and range hood
All units are conforming
Early 1900s build
Traditional colonnade Kansas City style apartment complex
Low maintenance exterior brick siding
New owner can continue to renovate units as planned or place top of the line finishes in each unit to maximize rents and future value

Contacts

Alex Olson

XChange CRE

(816) 591-0825

Location

Getting Around

Walk Score ®
79/100 Very Walkable
Transit Score ®
46/100 Some Transit
Bike Score ®
62/100 Bikeable

Map
Street

City Kansas City, MO
Neighborhood Roanoke - Valentine
Zip Code 64111
Market Kansas City

Points of Interest

Union Station

1.24 miles
Kansas City Union Station

1.31 miles
Crossroads

1.59 miles
Kauffman Center

1.87 miles
22nd at Vine

1.92 miles
Power and Light

2.04 miles
Metro Center

2.24 miles
Metro Center

2.28 miles
Library

2.47 miles
North Loop

2.62 miles

Car Wash 103

0.28 miles
Costco Gasoline

0.50 miles
7-Eleven

0.62 miles
Shell

0.67 miles
Shell

0.68 miles
BP

0.89 miles
Sinclair

0.96 miles
BP

1.33 miles
Phillips 66

1.34 miles
QuikTrip

1.37 miles

Burger King Parking

0.39 miles
KCYA Parking Only

0.64 miles
Park & Ride

1.03 miles
Teocali Parking

1.17 miles
Union Station Parking Garage

1.17 miles
Hospital Employee Parking

1.19 miles
Hospital Employee Parking

1.24 miles
Medical Plaza Patient Parking Garage

1.30 miles
Employee Parking

1.30 miles
Emergency Medicine Patient Parking

1.30 miles

Quality Inn & Suites Kansas City Downtown

0.45 miles
Fairfield Inn by Marriott Kansas City Downtown/Union Hill

0.48 miles
Residence Inn Kansas City Downtown/Union Hill

0.50 miles
AC Hotel Kansas City Westport

1.08 miles
The Westin Crown Center

1.15 miles
816 Hotel Westport Country Club Plaza, Ascend Hotel Collection

1.19 miles
Sheraton Kansas City Hotel at Crown Center

1.33 miles
Best Western Plus Seville Plaza Hotel

1.34 miles
Home2 Suites Kansas City Downtown

1.51 miles
Hotel Indigo Kansas City - The Crossroads

1.51 miles

Sheng Chinese Restaurant

0.02 miles
Browne's

0.10 miles
Subway

0.28 miles
McDonald's

0.32 miles
Gates Bar-B-Q

0.32 miles
Wendy's

0.33 miles
Goodscents Plus

0.33 miles
Awaze

0.34 miles
Popeyes

0.36 miles
Burger King

0.38 miles

Penn Valley Community College

0.08 miles
Concorde Career College - Kansas City

0.08 miles
Foreign Language Academy

0.44 miles
Académie Lafayette Middle School

0.53 miles
Gordon Parks Elementary School

0.83 miles
Alta Vista Charter Middle School

0.86 miles
Westport Montessori School

0.88 miles
Notre Dame de Sion School

0.95 miles
Westport High School (Disused)

1.02 miles
Our Lady of Sorrows School

1.05 miles

St. Luke's Hospital Child Care Center

1.16 miles
Alphabet Academy Child Care

1.38 miles
Downtown Day Care

2.68 miles
Inspire Early Education Center

2.83 miles
Cotton Candy Daycare Center

3.60 miles
Children's Choice

3.68 miles
Outreach Christian Child Care

7.63 miles
Golden Oaks Education Center

8.06 miles
Holmeswood Baptist Church

8.08 miles
Sonshine Day Care Center

8.64 miles

Frequently Asked Questions

What is the lease rate for Broadway 42 - Penn Valley Apartments - 8.91% cap rate?

Rental asking rate at Broadway 42 - Penn Valley Apartments - 8.91% cap rate is $1,497,500.00/YR.

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