Flats on 39th
Kansas City, MO
Old Westport
HIGHLIGHTS
- Fully occupied, income-producing 29-unit building (119) offsets carry costs while 115 is renovated
- Steps from Main Street and the 39th Street streetcar stop, in a corridor with active reinvestment
- Separate parcels support a low tax basis on 115, easing the path to Missouri and federal Historic Tax Credit eligibility
- Each building includes a bonus office/lobby space convertible to a 30th unit, bringing the portfolio to 60
- Blended price of $73,333/unit reflects one finished building and one legacy building; seller will consider offers on individual buildings
OVERVIEW
The Flats on 39th Street is a 60-unit, two-building portfolio in Midtown Kansas City, walkable to the 39th Street streetcar stop; 58 units are in service today, with 2 more a straightforward build-out away. 119 W. 39th Street is fully renovated and cash-flowing, with over $2M invested in new electrical, plumbing, sewer, foundation, and interiors. 115 is its structural twin, positioned for renovation eligible for Missouri and federal Historic Tax Credits.
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816-621-2130
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816-621-2130
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