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    1017 W 39Th St Kansas City, MO 64111

    View on Map
    Sponsored
    For Sale
    $659,000

    MULTI_FAMILY - Kansas City, MO

    Type:Apartment
    Lot size:
    0.15 Acres
    Days on Market:
    16
    Last Refresh:
    Mar 20 at 2:06 am

    Property Features for 1017 W 39Th St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    B3-2
    Rooms
    Bathroom 1, Basement, Bathroom 3, Bathroom 5, Bathroom 2, Bathroom 4
    APN
    30-340-05-04-00-0-00-000
    Parking
    6
    Parking features
    Off Street
    Lot size
    0.15 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1908
    Floors in Building
    2
    Number of units
    6
    Building materials
    Brick/Mortar, Frame

    We can help!

    Listing Contact
    Brice Bradshaw

    Compass (816) 280-2773

    Listing agent Brice Bradshaw (816) 280-2773

    Listing date Mar 4, 2026

    MLS# 2591468 Listing URL

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Volker Neighborhood Apartments

    Located in the historic Volker neighborhood of Midtown Kansas City, Missouri, the apartments at 1017 W. 39th are a 6-unit complex near Westport and the University of Kansas Medical Center. Constructed in 1908, the 2-story building features a brick exterior, common patios and balconies, and off-street parking at the rear with 6 spaces. The unit mix includes two studio units, two one-bedroom/one-bathroom units, one two-bedroom/one-bathroom unit, and one two-bedroom/two-bathroom unit, each with different floorplans. The building is separately metered for electric with common gas and water. The basement, accessible via the rear entry, contains owner-operated laundry machines and storage lockers. All units feature hardwood floors, window units for heating and cooling, vinyl windows, and ceiling fans. Select units have in-unit washer/dryers (2 units), dishwashers (3 units), and updated flooring in kitchens and bathrooms (2 units). One of the six units has been renovated with new hardwood flooring, granite countertops, and stainless steel appliances, while the remaining five units are in classic condition. The property is stabilized with a history of high occupancy and currently has 100% occupancy with 3rd party management in place. Situated on a lot of 0.1532 acres, the property is located on the 39th Street district, near shops, businesses, and restaurants in Volker and Westport, and close to the KC Streetcar Extension Line. The property is zoned B3-2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Platte
    State
    Missouri
    Longitude
    -94.599115
    Latitude
    39.056793

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    FAQs

    What type of property is this?
    Apartment building - Stately 6-unit complex in Midtown Kansas City.
    Where is this apartment building located?
    The property is located at 1017 W 39Th St Kansas City, MO.
    What is the asking price?
    The asking price for this property is $659,000.
    What are key features of this property?
    This property features: - Prime location in the historic Volker neighborhood on 39th Street, near Westport, KU Medical Center, and the KC Streetcar Extension Line (82 Walk Score).; - Stabilized asset with a history of high occupancy (currently 100%) and 3rd party management in place.; - Value-add potential through RUBS implementation, continued unit renovations, and potential for central air and in-unit washer/dryer additions.
    (913) 219-7074
    Request Owner's contact information
    1017 W 39Th St Kansas City, MO 64111
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    Kansas City, MO 64111
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1017 W 39Th St Kansas City, MO 64111
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    We can help!
    Listing Contact
    Brice Bradshaw
    Real Estate License ID: SP00219113
    (913) 219-7074 (816) 280-2773
    Learn more
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