21-Unit Apartment
For Sale
Contact for pricing
4030-4038 Clark Ave, Kansas City, MO 64111
Apartment property with renovated units, HVAC replacements, a resealed roof, and an on-site pool.
Property Size15,000 SF
Price / SF$161.67
Days on Market10
Property Features for 4030-4038 Clark Ave
General Information
Standard status
Active
Size
15,000 SF
Class
B
Total Parking Spaces
21
Property subtype
Multifamily
Occupancy
95%
Investment Type
Value Add
Additional Details
Multifamily Units
21
Amenities
pool
Building Details
Year Built
1966
Year Renovated
2019
Buildings
2
Units
21
Tenancy
Multi
Listing Agency:
Peak Real Estate Partners
Listed By:
Nick Ambrosio · License #2019045481
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 11 at 7:42PM
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 21-unit apartment complex contains 15,000 square feet and was built in 1966. Approximately 75% of the units have been renovated since 2017, while HVAC systems have been replaced as needed. The roof received a full reseal in 2024 and includes a transferable warranty. A pool is also part of the property and has been regularly maintained.
The property is located at 4030-4038 Clark Ave in Kansas City, Missouri. It is 0.8 miles from KU Med, 1.3 miles from the Country Club Plaza, and 0.5 miles from the heart of Westport. The apartment configuration, renovation history, and documented building improvements provide a clear basis for evaluating the property as an apartment asset.
The property is located at 4030-4038 Clark Ave in Kansas City, Missouri. It is 0.8 miles from KU Med, 1.3 miles from the Country Club Plaza, and 0.5 miles from the heart of Westport. The apartment configuration, renovation history, and documented building improvements provide a clear basis for evaluating the property as an apartment asset.
Key Highlights
- 21‑unit apartment complex with 15,000 square feet
- Roughly 75% of units renovated since 2017
- Full roof reseal completed in 2024 with transferable warranty
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
$161,063
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
6.64%
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%
$3,221,260
$3.2M
Cap Rate 7%
$2,300,900
$2.3M
Cap Rate 9%
$1,789,589
$1.8M
Market Conditions
NOI Build-Up for 15,000 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
$313.2K $20.88/SF
− Vacancy
−$20.4K −$1.36/SF
EGI
$292.8K $19.52/SF
− OpEx
−$131.8K −$8.79/SF
NOI
$161.1K $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%
$3,221,260
Cap Rate 7%
$2,300,900
Cap Rate 9%
$1,789,589
Alternative Uses
Best Use
Apartment 5plus
$2.30M
$2.01M – $2.68M
NOI $161,063 @ 7.0% cap · market cap 6.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.57M
$3.13M – $4.17M
NOI $250,099 @ 7.0% cap · market cap 10.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21
Residential units
Location Intelligence
Trade Area within ½ mile
4,682
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 - Apartment property with renovated units, HVAC replacements, a resealed roof, and an on-site pool.
Where is this apartment building located?
The property is located at 4030-4038 Clark Ave Kansas City, MO.
What is the asking price?
The asking price for this property is $2,425,000.
What are key features of this property?
This property features: 21‑unit apartment complex with 15,000 square feet; Roughly 75% of units renovated since 2017; Full roof reseal completed in 2024 with transferable warranty
