3516 Central StKansas City, MO 64111

Property Details for 3516 Central St

Year built

1911

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

2,195 SF

Property type

Apartment buildings

APN

30-220-08-11

APU

302200811

Description

This exceptional multifamily investment opportunity presents a remarkable chance to acquire a pair of historic apartment buildings in Kansas City, Missouri's vibrant Midtown neighborhood. The property, comprised of two three-story buildings totaling 13,170 square feet, boasts 14 units, including twelve spacious two-bedroom units each spanning 1,000 square feet. These generously sized apartments feature original hardwood floors, large front and shared back balconies, and an abundance of natural light streaming through recently replaced windows. The remaining two units are one-bedroom apartments located in the basement of each building. Built in 1911, these buildings have been meticulously maintained and offer significant value-add potential, with an estimated upside of over $400 per unit per month. Residents enjoy the convenience of on-site laundry facilities, although there's ample space to convert to in-unit laundry during renovations. The property benefits from a prime location in the walkable Hanover Park neighborhood, boasting a walk score of 85, placing residents within easy reach of numerous amenities, including gyms, coffee shops, bars, restaurants, and public transportation. Its proximity to the streetcar, hospitals, and universities further enhances its desirability. Heating is provided by brand new boiler systems, while window units provide cooling during the summer months. Street parking is available. This is a rare opportunity to own a piece of Kansas City history with a bright future. The asking price is $1,399,000, representing a price per unit of $99,928.57.

• CAP approach

  CAP return

  Valuation

  6%

  $510,196

  6.5%

  $470,950

  7%

  $437,311

• Comparable approach

  Method

  Valuation

  Relative Method

  $243,363

  Geo Method

  $243,363

• Alternative Use

  Use

  Valuation

  Residential

  $470,950

  Hospitality

  $431,388

  Educational

  $358,910

  Medical

  $371,253

  Retail

  $558,304

Location Insight

City

Kansas City

County

Jackson

State

Missouri

Latitude

39.0632

Longitude

-94.5895

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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