Description

3820 Walnut St is a 13-unit multifamily property at 3820 Walnut Street in Kansas City, MO 64111. Located in the Midtown submarket, the 1923 brick building offers an investor a defined apartment asset with 7,866 SF on 0.15 acres.

The Property’s units average 600 SF, with an average rent of $817 per month. Private balconies and updated vinyl windows distinguish the apartments, while basement coin laundry gives residents an on-site amenity. Electric is individually metered and tenant-paid; the owner pays for common gas, water, and trash service. The laundry contract has been renewed for 5 years. For an investor, that division of utility responsibility and the existing laundry arrangement help clarify the operating structure behind the rent figures.

In Kansas City’s Midtown market, the Property sits in the historic Old Hyde Park neighborhood, steps from the KC Streetcar extension, Westport, Main Street corridor, and Gillham Park. Those nearby destinations give residents transit access, dining, and outdoor space without making the apartment offering depend on a single amenity. The neighborhood setting and compact unit format provide a clear basis for positioning the Property to renters seeking a Midtown address.

The asking price is $1,175,000, or $90,384.62 per unit. NOI of $90,859 and a 7.73% cap rate establish the income basis for the sale. In-place rents are $132,116 against market rents of $157,800, giving a buyer a defined rent comparison to examine alongside the Property’s 0% occupancy. The 7.44 gross rent multiplier and 6.86 potential gross rent multiplier offer additional pricing perspectives.