Kansas City Multifamily Investment
3102 North 51st Terrace, Kansas City, KS 66104
18-unit complex near schools with recent renovations and strong occupancy.
Type:Multifamily
Property size:
12,600 SFPrice / SF:
$142/SF- Added:
- Nov 21, 2025
- Days on Market:
- 193
- Last Refresh:
- May 8 at 10:38 pm
Property Features for 3102 North 51st Terrace
General Information
- Standard status
- Active
- Size
- 12,600 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1967
Listing agent Richard S. Hurst, CCIM License #BR000049423 (816) 305-5587
Listing office SVN | The Hurst Company (816) 305-5587
Listing date Nov 21, 2025
Source Svn
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 SVN | The Hurst Company
HighLights
- Excellent Location: Heart of Kansas City, KS, near major roads (I‑635) for easy city access.
- Recent Renovations: New roof, stairs, and decking completed in 2021.
- Washer/Dryer in Every Unit: Highly desirable amenity for renters.
- Strong Occupancy Rate: Complex has historically maintained high occupancy.
- Unit Mix: 18 units total, consisting of 14 two‑bedroom and 4 one‑bedroom units.
- Proximity to Amenities: Within 15 minutes of Legends Shopping District, NASCAR, Children's Mercy Soccer Complex, KC Live, and Zona Rosa.
Overview
This 18-unit, two-story complex is located in Kansas City, Kansas, at the intersection of N. 51st Ter. and Leavenworth Rd. The property is situated adjacent to an elementary school and in close proximity to a middle and high school. Its location provides convenient access to I-635, facilitating travel throughout the city. The complex is also located within a 15-minute drive to the Legends Shopping District, NASCAR, Children's Mercy Soccer Complex, KC Live in downtown Kansas City, MO, and Zona Rosa. The property consists of 12,600 square feet. The complex features 14 two-bedroom units and 4 one-bedroom units. Each unit is equipped with a washer and dryer. Renovations were completed in 2021, including a new roof, stairs, and decking throughout the exterior of the building. All units were renovated in 2016. The property currently has a 90% occupancy rate. The location and rent range make it a suitable option for families or individuals seeking proximity to schools or work.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $204.1k | $16.20 |
| − Vacancy | −$13.3k | −$1.05 |
| EGI | $190.9k | $15.15 |
| − OpEx | −$85.9k | −$6.82 |
| NOI | $105.0k | $8.33 |
12,600 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,969 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,122 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Kansas City
- County
- Wyandotte
- State
- Kansas
- Longitude
- -94.6988
- Latitude
- 39.143
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 18-unit complex near schools with recent renovations and strong occupancy.
Where is this apartment building located?
The property is located at 3102 North 51st Terrace Kansas City, KS.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Excellent Location: Heart of Kansas City, KS, near major roads (I‑635) for easy city access.; Recent Renovations: New roof, stairs, and decking completed in 2021.; Washer/Dryer in Every Unit: Highly desirable amenity for renters.
