Broadway 42 - Penn Valley Apartments - 8.91% cap rate

For Sale

410-420 W 33rd St, Kansas City, MO 64111

This Kansas City property for sale is located at 410-420 W 33rd St. The current listed sale price for Broadway 42 - Penn Valley Apartments - 8.91% cap rate is $2,995,000.

Contacts

broker

Logan Freeman

XChange CRE

Property Details

  • Property Type Multi-Family
  • Units 42
  • Additional Rent Contact for pricing
  • Date Updated Jun 18, 2024
○ 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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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

Attachments

Getting around

  • 77/100

    Walk Score ®

  • 46/100

    Transit Score ®

  • 62/100

    Bike Score ®

Powered by Walk Score ®

Location

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

Points of Interest

  • Union Station

    1.24 miles

  • Crossroads

    1.63 miles

  • Kauffman Center

    1.87 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

  • River Market West

    2.86 miles

  • River Market North

    2.98 miles

  • Costco Gasoline

    0.50 miles

  • Shell

    0.67 miles

  • Shell

    0.68 miles

  • BP

    0.89 miles

  • BP

    1.33 miles

  • Phillips 66

    1.34 miles

  • QuikTrip

    1.37 miles

  • QuikTrip

    1.38 miles

  • ChargePoint

    1.79 miles

  • Shell

    1.82 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

  • Marsh's Sunfresh

    0.94 miles

  • Thriftway

    0.96 miles

  • Save-A-Lot

    1.04 miles

  • Crown Center Shops

    1.12 miles

  • The Sundry

    1.74 miles

  • Country Club Plaza

    1.78 miles

  • Sun Fresh Market

    1.96 miles

  • ALDI

    2.13 miles

  • Apple Market

    2.14 miles

  • Cosentino's Downtown Market

    2.18 miles

In-Depth Research Available for this Property

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Contact Listing Broker

broker

Logan Freeman

XChange CRE