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    Turnkey Multifamily Investment Property Title is generated by Realmo AI

    4515 Virginia Avenue, Kansas City, MO 64110

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    For Sale
    $590,000

    MULTI_FAMILY - Kansas City, MO

    Lot size:
    0.14 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    49
    Last Refresh:
    May 13 at 4:06 am

    Property Features for 4515 Virginia Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    yes
    Bathrooms
    1
    Rooms
    Basement, Bathroom 1
    Parking features
    On Street
    Window features
    Window Coverings
    Patio and Porch features
    Deck, Patio
    Exterior features
    Balcony, Private Entrance
    Appliances
    Dishwasher, Disposal, Dryer, Exhaust Fan, Microwave, Refrigerator, Electric Range, Washer
    Standard status
    Active
    APN
    30-620-18-06-00-0-00-000
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Description
    LLEWELLYN ANNEX---LOT 5 BLK 4
    Tax Annual Amount
    6598

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1909
    Floors in Building
    2
    Number of units
    4
    Building materials
    Brick, Brick/Mortar

    We can help!

    Listing Contact
    Allen Epstein

    Listing agent Allen Epstein License #BR00217296

    Listing office Realty Executives 11405 Ash, Leawood, MO

    Listing date Mar 26, 2026

    MLS# 2608554 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.

    HighLights

    • Turnkey multifamily investment property.
    • Located near The Country Club Plaza, Midtown, Kansas City Art Institute, and UMKC.
    • Four units with long‑term tenants.
    • Granite countertops and luxury vinyl plank flooring in all units.
    • Each unit includes stove, dishwasher, microwave, refrigerator, and stackable washer/dryer.
    • Fenced backyard with front and back porches.

    Overview

    This is a turnkey multifamily investment property located just East of The Country Club Plaza, close to Midtown, the Kansas City Art Institute, and UMKC. The property features two 2-bedroom, 1-bath apartments upstairs, and on the first floor, a 2-bedroom, 1-bath unit with a 3rd non-conforming room with a large closet, and a 1-bedroom, 1-bath unit with a 2nd non-conforming room with a large closet. All four units are equipped with granite countertops, luxury vinyl plank flooring, pantries, and tiled baths. Each unit also includes front and back porches, and access to a fenced backyard. Appliances included are a stove, dishwasher, microwave, refrigerator, and stackable washer/dryers. The property is currently occupied by long-term tenants and is located in Kansas City, MO.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kansas City
    County
    Platte
    State
    Missouri
    Longitude
    -94.568925
    Latitude
    39.044459

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    FAQs

    What type of property is this?
    Quadplex - Multifamily investment property near Country Club Plaza in Kansas City.
    Where is this quadplex located?
    The property is located at 4515 Virginia Avenue Kansas City, MO.
    What is the asking price?
    The asking price for this property is $590,000.
    What are key features of this property?
    This property features: Turnkey multifamily investment property.; Located near The Country Club Plaza, Midtown, Kansas City Art Institute, and UMKC.; Four units with long‑term tenants.
    (816) 806-8992
    We can help!
    Listing Contact
    Allen Epstein
    Real Estate License ID: BR00217296
    Learn More
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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.

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