Property Description

Located in the historic Volker neighborhood of Midtown Kansas City, Missouri, the apartments at 1017 W. 39th are a stately, 6-unit complex anchored just west of Westport and east of the University of Kansas Medical Center. Built in 1908, the building stands 2-stories with a brick exterior, common patios/balconies, and off-street parking at the rear (6 total spaces). The six units consist of two studio units, two one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit and one two-bedroom/two-bathroom unit ? all floorplans are different. The building is separately metered for electric with common gas and water. The basement, accessed via the rear entry provides owner-operated laundry machines and storage lockers.All units at 1017 feature hardwood floors, window units for heating/cooling, vinyl windows and ceiling fans. Select units have washer/dryer in unit (2 units), dishwashers (3 units) and updated flooring in kitchens/bathrooms (2 units). 1 of the 6 units has been renovated with new hardwood flooring, granite countertops, stainless steel appliances ? the remaining 5 units are in classic condition. The property is stabilized with a history of high occupancy (currently 100%) with 3rd party management in place. The asset presents value-add potential with the full implementation of RUBS fees (currently not charging for water/gas), continued renovation of classic units, potential to convert to central air and addition to washer/dryer in remaining units. The property boasts an excellent location on one of Kansas Citys most beloved corridors, the 39th Street district with a close proximity to the shops/businesses/restaurants in Volker, Westport and the new KC Streetcar Extension Line (multiple stops within walking distance to subject ? 82 Neighborhood Walk Score).

Property Features

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