1915 Lexington Ave Kansas City, MO 64124-1682

Property Details for 1915 Lexington Ave

Year built

1912

Construction

WOOD

Lot size

0.12 lot acres

Property size

1,760 SF

Property type

Apartment buildings

APN

12-740-23-29-02

APU

12740232902

Description

This exceptional value-add opportunity presents two identical six-plex apartment buildings situated on two separate parcels in Kansas City, Missouri's historic Pendleton Heights neighborhood. The 12-unit complex, built in 1912, boasts 14,076 total square feet and 10,800 net rentable square feet across three stories. Both buildings feature new TPO roofs and HVAC systems, along with new low-e double-pane windows and Goodman forced-air gas furnaces. While vacant, significant renovations have already been completed, including the conversion of most units from one to two bedrooms. The property is listed on the Kansas City Register of Historic Places and is located within a designated Opportunity Zone, offering potential tax incentives and abatements for the new owner. The buildings are separately parceled and benefit from proximity to recently renovated complexes. While the 1919 Lexington Avenue building is further along in its renovation than the 1915 building (the latter's back stairwell has been removed), both currently lack off-street parking and have utilities shut off. This presents a unique chance to complete the renovation, capitalize on the existing improvements, and realize the full potential of this historic property. The property is zoned R-6 and sits on a 0.23-acre lot. The anticipated occupancy date is October 22, 2024. The asking price is $549,000.