Multifamily Property with Detached
For Sale
$600,000
612 W 40 Street, Kansas City, MO 64111
The property dates to 1928 and is zoned R 1.5.
Property Size3,888 SF
Days on Market13
Property Features for 612 W 40 Street
General Information
Standard status
Active
Size
3,888 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R 1.5
Taxes and HOA fees
Annual Taxes
$9,239
Amenities
Electric
Natural Gas
Detached, Garage
Building Details
Building Size
3,888 SF
Year Built
1928
Stories
2
Listing Agency:
Wardell & Holmes Real Estate, LLC
Listed By:
Khorey Kilgore · License #2018028977
(816) 654-4333
Source:
Evrealestate
Added: Oct 7
Changed: Oct 16
Last Checked: Oct 19 at 4:50AM
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 Wardell & Holmes Real Estate, LLC
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Investment Insights
Based on property information with market context.
Located at 612 W 40 Street in Kansas City, this multifamily property was built in 1928. The exterior includes a detached garage, and the listed interior features include electric and natural gas. Zoning is R 1.5.
Key Highlights
- Multifamily property built in 1928
- Detached garage
- Zoned R 1.5
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,748
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,960
$835.0K
Cap Rate 7%
$596,400
$596.4K
Cap Rate 9%
$463,867
$463.9K
Market Conditions
NOI Build-Up for 3,888 SF
Gross rent
$81.2K $20.88/SF
− Vacancy
−$5.3K −$1.36/SF
EGI
$75.9K $19.52/SF
− OpEx
−$34.2K −$8.79/SF
NOI
$41.7K $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 Rate 5%
$834,960
Cap Rate 7%
$596,400
Cap Rate 9%
$463,867
Alternative Uses
Best Use
Apartment 5plus
$596.4K
$521.9K – $695.8K
NOI $41,748 @ 7.0% cap · market cap 6.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$926.1K
$810.3K – $1.08M
NOI $64,826 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,059
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property dates to 1928 and is zoned R 1.5.
Where is this multifamily property located?
The property is located at 612 W 40 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: Multifamily property built in 1928; Detached garage; Zoned R 1.5
