Description

115 W 39th Street is a 29-unit multifamily property in Kansas City’s Midtown neighborhood. The offering is priced at $1,000,000, or approximately $34,483 per unit. The three-story brick masonry building contains 30,000 square feet on a separately platted 0.175-acre parcel. Built in 1925, it has an average unit size of 415 square feet.

The property is approximately 25% occupied and is being prepared for redevelopment. Its current legacy condition makes the proposed renovation an important part of the offering. A renovation scope has been engineered and a contractor bid is available. The same contractor completed the renovation of the neighboring 119 W. 39th Street, which has a similar building footprint. That adjacent project provides a reference for the scope and finishes contemplated at 115 W. 39th Street.

The building is within a PIEA planning area. A purchaser may pursue property tax abatement and investigate eligibility for Missouri and federal historic rehabilitation tax credits. Any incentives remain subject to the applicable program requirements and approvals. The separate parcel structure allows the property to be evaluated on its own acquisition and rehabilitation basis.

The property’s Midtown setting and existing multifamily use support a renovation-focused acquisition strategy. Current building systems include a mix of electrical installations, galvanized and cast-iron plumbing, window air conditioning, and gas heat. Windows and roofing have been repaired or replaced as needed. Buyers can assess these existing conditions alongside the contractor’s renovation scope when planning the rehabilitation.