Lexington Avenue Apartments 1919-1921 Lexington Ave

The Lexington Avenue apartments are a 12-unit, two building complex located in the historic neighborhood of Pendleton Height in northeast Kansas City, Missouri. Built in 1912, the buildings stand 3 stories with brick exteriors balconies/patios. The properties are a part of Kansas City’s Register of Historic Places and positioned within a Designated Opportunity Zone allowing new ownership to potentially take advantage of tax incentives/abatements that go along with these designations. Both buildings are separately parceled and neighbor newly renovated complexes in New View Place Apartments, Mark One Plaza & 221 Garfield, while being situated among Kansas City’s oldest Boulevards. The buildings were acquired in 2021 vacant and in poor condition. The project has stalled with current ownership and the buildings remain vacant presenting as an open canvas for finish. The initial project planned for a to-the-studs renovation converting units to 2-bedrooms (previously 1) with high-end finishes, washer/dryer in unit, separate metering (new electric/plumbing), and market rental rates. The scope of work completed between buildings/units varies since acquisition. Both buildings have new TPO roofs with new HVAC systems in place. The buildings have new low-e double pane windows and new goodman forced-air gas furnaces. 1919 Lexington’s rehab process is further along than the 1915 building, and the 1915 buildings back stairwell has been removed. The building do not provide tenants with off-street parking and currently have all utilities shut off.