Kansas City Multifamily Investment
For Sale
Contact for pricing
3102 N 51st Terrace, Kansas City, KS 66104
18-unit complex in the heart of Kansas City, Kansas.
Property Size12,600 SF
Price / SF$142.86
Days on Market1235
Property Features for 3102 N 51st Terrace
General Information
Standard status
Active
Size
12,600 SF
Class
C
Property subtype
Multifamily
Zoning
KRP3
Occupancy
90%
Investment Type
Stabilized
Site & Location
Neighborhood
Quindaro Bluffs
Building Details
Year Built
1967
Year Renovated
2021
Buildings
1
Stories
2
Units
18
Listing Agency:
SVN | The Hurst Company, LLC
Listed By:
Richard Hurst · License #KS BR000049423
(913) 538-5568
Source:
Crexi
Added: Jun 21, 2023
Changed: Oct 26
Last Checked: Nov 4 at 12:47PM
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, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 18-unit, two-story complex is located in Kansas City, Kansas, at the intersection of N. 51st Ter. and Leavenworth Rd. The building is situated next to an elementary school and is near a middle and high school. Its location provides convenient access to I-635. It is also 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. Renovations completed in 2021 included a new roof and decking throughout the exterior of the building. This location is positioned to appeal to investors.
Key Highlights
- 18‑unit complex in a high‑demand rental market of Kansas City, KS
- Recent renovations in 2021 including a new roof and decking
- Convenient access to I‑635 for city‑wide accessibility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,969
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,099,380
$2.1M
Cap Rate 7%
$1,499,557
$1.5M
Cap Rate 9%
$1,166,322
$1.2M
Market Conditions
NOI Build-Up for 12,600 SF
Gross rent
$204.1K $16.20/SF
− Vacancy
−$13.3K −$1.05/SF
EGI
$190.9K $15.15/SF
− OpEx
−$85.9K −$6.82/SF
NOI
$105.0K $8.33/SF
Area
Kansas City, KS
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,099,380
Cap Rate 7%
$1,499,557
Cap Rate 9%
$1,166,322
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Explore this area
Business Placement
Demographics for 66104, KS
27,509
Population
11,088
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
79%
High-School Grad
16.2 sq mi
ZIP Area
1,698
Density / Sq Mi
$56,745
Median Household Income
$32,325
Median Earnings
$996
Median Rent
$117,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 18-unit complex in the heart of Kansas City, Kansas.
Where is this apartment building located?
The property is located at 3102 N 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: 18‑unit complex in a high‑demand rental market of Kansas City, KS; Recent renovations in 2021 including a new roof and decking; Convenient access to I‑635 for city‑wide accessibility
