Active

109 E 40th Street

Kansas City MO, 64111

$2,295,000


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.

2472055

MLS ID

February 16, 2024

Listed

October 1, 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

Courtesy of Compass Realty Group, Brice Bradshaw, Parker Beck
Listing Contact: 913-219-7074 

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Data last updated: 10/1/2024, 10:21 PM UTC 

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