Turn-Key Multifamily Apartment
For Sale
Contact for pricing
1800 W 41st St, Kansas City, MO 64111
Seven fully renovated, four-unit buildings near KU Medical Center offer a turn-key multifamily acquisition.
Property Size24,486 SF
Price / SF$222.58
Days on Market307
Property Features for 1800 W 41st St
General Information
Standard status
Active
Size
24,486 SF
Class
A
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$273,121
Additional Details
Multifamily Units
28
Building Details
Year Built
1920
Year Renovated
2023
Buildings
7
Stories
2
Units
28
Listing Agency:
The Tiehen Group, Inc.
Listed By:
Jack McGuire · License #00251236
Source:
Crexi
Added: Nov 5, 2025
Changed: Aug 27
Last Checked: Sep 8 at 8:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Tiehen Group, Inc.
Investment Insights
Based on property information with market context.
The Muehlebach Apartments present a turn-key multifamily opportunity with seven well-maintained four-unit buildings. Each unit has been recently renovated, positioning the property for straightforward operations with updated interiors throughout the community.
The buildings are located at 1800 W 41st St in Kansas City, Missouri, just steps from KU Medical Center, a major employment anchor in the area.
This asset’s structure is simple and consistent, with multiple four-unit buildings under one ownership, offering a cohesive, apartment-community configuration for an incoming owner.
The buildings are located at 1800 W 41st St in Kansas City, Missouri, just steps from KU Medical Center, a major employment anchor in the area.
This asset’s structure is simple and consistent, with multiple four-unit buildings under one ownership, offering a cohesive, apartment-community configuration for an incoming owner.
Key Highlights
- Seven fully renovated four‑unit buildings (28 units total)
- Year built: 1920
- Units have undergone recent renovations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$262,919
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,258,380
$5.3M
Cap Rate 7%
$3,755,986
$3.8M
Cap Rate 9%
$2,921,322
$2.9M
Market Conditions
NOI Build-Up for 24,486 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$511.3K $20.88/SF
− Vacancy
−$33.2K −$1.36/SF
EGI
$478.0K $19.52/SF
− OpEx
−$215.1K −$8.79/SF
NOI
$262.9K $10.74/SF
Area
Kansas City, MO
Vacancy
6.50%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,258,380
Cap Rate 7%
$3,755,986
Cap Rate 9%
$2,921,322
Alternative Uses
Best Use
Apartment 5plus
$3.76M
$3.29M – $4.38M
NOI $262,919 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.83M
$5.10M – $6.80M
NOI $408,262 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
28
Residential units
Location Intelligence
Trade Area within ½ mile
3,499
Businesses Nearby
Explore this area
Business Placement
Demographics for 64111, MO
17,112
Population
12,430
Households
1.4
Avg Household Size
33
Median Age
64%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
6,338
Density / Sq Mi
$61,802
Median Household Income
$49,942
Median Earnings
$1,184
Median Rent
$269,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven fully renovated, four-unit buildings near KU Medical Center offer a turn-key multifamily acquisition.
Where is this apartment building located?
The property is located at 1800 W 41st St Kansas City, MO.
What is the asking price?
The asking price for this property is $5,450,000.
What are key features of this property?
This property features: Seven fully renovated four‑unit buildings (28 units total); Year built: 1920; Units have undergone recent renovations
