Six-Unit Apartment
For Sale
Contact for pricing
2734 Charlotte Street, Kansas City, MO 64109
1920-built multifamily property in Kansas City’s Longfellow neighborhood near major medical, educational, and downtown destinations.
Property Size4,900 SF
Price / SF$122.45
Days on Market9
Property Features for 2734 Charlotte Street
General Information
Standard status
Active
Size
4,900 SF
Property subtype
Multifamily
Investment Type
Value Add
Additional Details
Multifamily Units
6
Building Details
Year Built
1920
Buildings
1
Units
6
Listing Agency:
Peak Real Estate Partners
Listed By:
Nick Ambrosio · License #2019045481
Source:
Crexi
Added: Aug 6
Changed: Aug 12
Last Checked: Aug 12 at 5:40AM
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 Peak Real Estate Partners
Investment Insights
Based on property information with market context.
This six-unit apartment property contains 4,900 square feet and was built in 1920. The building is located at 2734 Charlotte Street in Kansas City’s Longfellow neighborhood, providing an established multifamily asset within Midtown.
The property is less than half a mile from the recently announced Kansas City Royals ballpark and the Children’s Mercy patient tower. Longfellow also offers access to the UMKC School of Medicine, Children’s Mercy, Hospital Hill, Crown Center, Midtown, Downtown, and Kansas City entertainment districts.
The property is less than half a mile from the recently announced Kansas City Royals ballpark and the Children’s Mercy patient tower. Longfellow also offers access to the UMKC School of Medicine, Children’s Mercy, Hospital Hill, Crown Center, Midtown, Downtown, and Kansas City entertainment districts.
Key Highlights
- Six‑unit apartment property with 4,900 square feet
- Built in 1920
- Located at 2734 Charlotte Street in Kansas City, MO 64109
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
$52,614
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
8.77%
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%
$1,052,280
$1.1M
Cap Rate 7%
$751,629
$751.6K
Cap Rate 9%
$584,600
$584.6K
Market Conditions
NOI Build-Up for 4,900 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
$102.3K $20.88/SF
− Vacancy
−$6.7K −$1.36/SF
EGI
$95.7K $19.52/SF
− OpEx
−$43.0K −$8.79/SF
NOI
$52.6K $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%
$1,052,280
Cap Rate 7%
$751,629
Cap Rate 9%
$584,600
Alternative Uses
Best Use
Apartment 5plus
$751.6K
$657.7K – $876.9K
NOI $52,614 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,699 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 64109, MO
10,290
Population
6,103
Households
1.7
Avg Household Size
34
Median Age
35%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
4,900
Density / Sq Mi
$42,861
Median Household Income
$38,585
Median Earnings
$919
Median Rent
$240,000
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 - 1920-built multifamily property in Kansas City’s Longfellow neighborhood near major medical, educational, and downtown destinations.
Where is this apartment building located?
The property is located at 2734 Charlotte Street Kansas City, MO.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Six‑unit apartment property with 4,900 square feet; Built in 1920; Located at 2734 Charlotte Street in Kansas City, MO 64109
