38th Street Apartments

Your chance to own a classic colonnade building in the heart of Kansas City’s walkable Valentine neighborhood. The building contains six spacious 2-bedroom, 1 bathroom units, each with a large private balcony. The units have charming original hardwood floors and are filled with natural light. The basement contains one additional studio unit.

Renovated units feature an in-unit washer-dryer and luxury kitchens including tile backsplash, quartz countertops, and stainless appliances. Classic units use a shared laundry room with a coin operated washer and dryer. The well-kept brick building underwent extensive renovation five years ago including new windows, updated electrical panels, and updated plumbing. The dedicated parking lot is behind the building and fits 14+ cars.

In addition to being in a great walkable neighborhood this property is minutes from major hospitals and employers including being less than 1 mile away from KU Medical, the area’s largest hospital and medical school and less than 3 miles from Children’s Mercy Hospital, the City’s second largest employer. The property is 1.6 miles to the famed Country Club Plaza and walking distance to all of the bars and eateries in the Valentine and Westport neighborhoods.

This is an excellent opportunity for investors seeking a trophy property in a prime location with income upside!

Why We Love It: 5/7 of the units are updated with a luxury finish and command a premium rent while there is still income upside with future renovations to the classic units. Love the large 2 bedroom units with laundry
either in-unit (renovated) or on-site (classic). The balconies provide additional private outdoor living space. Residents love a walkable location in the heart of the City!

The Challenge: Older buildings can come with some challenges but this well- maintained building was built to last and already has updated plumbing, electrical, and central HVAC.

The Value Add Play: Renovated units achieve a significant premium in rental rate, and this upside can be unlocked at any time with cosmetic renovations to the remaining units.