The Stones

Welcome to The Stones, an iconic 11-unit apartment building located in the heart of Kansas City’s West Plaza Neighborhood. The property includes ten spacious two-bedroom/one-bath units and one Penthouse three-bedroom/two-bath unit. Residents enjoy central heat and air, a brand-new elevator, and an on-site laundry room — rare, hotel-quality conveniences for this boutique multifamily asset.

The apartment also comes with a parking garage with approximately eight parking spaces, additional storage,and a coin-operated laundry room. Gas and electric are sub-metered while water is master-metered and isoffset by a monthly utility fee on all units. Currently only the Penthouse unit has in-unit laundry while the other units have access to the on-site coin-operated laundry room. Achieve rental upside by adding in-unit laundry and making strategic cosmetic updates to the remaining units to play up the mid-century charm.

The Stones is an irreplaceable asset in an incredible neighborhood; do not miss your once-in-a-lifetime chance to own it!

Why We Love It: A rare, boutique 11-unit asset just off the Plaza with a brand-new elevator, updated finishes in five units, and dedicated garage parking. In-place rents are already high, offering a stabilized, low- maintenance investment in one of Kansas City’s most desirable central corridors but these rents will soar with the right high-end touches.

The Challenge: Very long term tenants love the property and will likely not leave even with healthy rental increases hindering the owner’s opportunity to renovate units.

The Value-add Play: Push the ten 2 Bed/1 Bath units from their current $1,349/mo average toward the $1,595+/mo market rate as leases turn. Add the in-unit laundry, pretty up the exterior and continue to enjoy the natural appreciation that comes with the Country Club Plaza neighborhood.