3412 Charlotte St - 3412 Charlotte
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3412 Charlotte St - 3412 Charlotte
2 Unit Apartment Building Offered at $399,000 at a 16.18% Cap Rate in Kansas City, MO 64109
Investment Highlights
- 10 Bedroom, 9.5 Bath Duplex
- Updated Front Building & Brand New Construction On the Back
- Great For Mid-Term or Long-Term Rentals
- High-Yield Room Rentals
- Projected Gross Income $95,000
- Downtown Kansas City Missouri
Executive Summary
Seize this exceptional investment opportunity at 3412 Charlotte St in Kansas City, MO, where historic charm meets modern construction! Originally a spacious single-family residence, this property has been transformed into a 10-bedroom, 3-story duplex with a unique blend of well-maintained historic front building and brand-new construction in the rear. With a proforma gross income of $95,000+, this property is perfectly set up for high-yield room rentals, appealing to both mid-term and long-term tenants.
Each side of this duplex features its own kitchen, with 10 private bedrooms and 9.5 baths spread across both the updated original structure and the newly constructed addition, offering flexibility and ample space for tenants. The front building boasts vintage charm, meticulously updated to match modern standards, while the back addition is fresh, modern, and ready for occupancy. Additionally, the adjacent lot is available for purchase, opening up even more possibilities for expansion, parking, or additional development. Zoned R 2.5, it offers possibilities for single-family or multi-family dwelling. The city previously approved plans to construct a new duplex on this site.
Highlights:
Strategic Location: Located in the heart of Kansas City, ideal for renters seeking proximity to employment centers, financial district, universities, retail, and amenities.
Flexible Investment Opportunity: Perfect for continued room rentals, conversion to multi-family rental model, or owner occupies one structure and rent the other!
Proforma Gross Income of $95,000+: Substantial income opportunity by utilizing a proven per room furnished rental model to maximize value.
Adjoining Lot Opportunity: The adjoining lot, 3408 Charlotte St., provides an investor an opportunity to increase value through developing an additional structure or creating further amenities for the tenants such as off-street parking, dog run, storage, etc.
Transportation Hub: The property benefits from easy access to US-71 and I-35 along with the brand new Streetcar stop just blocks away on Main Street.
Each side of this duplex features its own kitchen, with 10 private bedrooms and 9.5 baths spread across both the updated original structure and the newly constructed addition, offering flexibility and ample space for tenants. The front building boasts vintage charm, meticulously updated to match modern standards, while the back addition is fresh, modern, and ready for occupancy. Additionally, the adjacent lot is available for purchase, opening up even more possibilities for expansion, parking, or additional development. Zoned R 2.5, it offers possibilities for single-family or multi-family dwelling. The city previously approved plans to construct a new duplex on this site.
Highlights:
Strategic Location: Located in the heart of Kansas City, ideal for renters seeking proximity to employment centers, financial district, universities, retail, and amenities.
Flexible Investment Opportunity: Perfect for continued room rentals, conversion to multi-family rental model, or owner occupies one structure and rent the other!
Proforma Gross Income of $95,000+: Substantial income opportunity by utilizing a proven per room furnished rental model to maximize value.
Adjoining Lot Opportunity: The adjoining lot, 3408 Charlotte St., provides an investor an opportunity to increase value through developing an additional structure or creating further amenities for the tenants such as off-street parking, dog run, storage, etc.
Transportation Hub: The property benefits from easy access to US-71 and I-35 along with the brand new Streetcar stop just blocks away on Main Street.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$101,160
|
$19.20
|
| Other Income |
$3,960
|
$0.75
|
| Vacancy Loss |
$10,116
|
$1.92
|
| Effective Gross Income |
$95,004
|
$18.03
|
| Taxes |
$10,116
|
$1.92
|
| Operating Expenses |
$20,336
|
$3.86
|
| Total Expenses |
$30,452
|
$5.78
|
| Net Operating Income |
$64,552
|
$12.25
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $101,160 |
| Annual Per SF | $19.20 |
| Other Income | |
|---|---|
| Annual | $3,960 |
| Annual Per SF | $0.75 |
| Vacancy Loss | |
|---|---|
| Annual | $10,116 |
| Annual Per SF | $1.92 |
| Effective Gross Income | |
|---|---|
| Annual | $95,004 |
| Annual Per SF | $18.03 |
| Taxes | |
|---|---|
| Annual | $10,116 |
| Annual Per SF | $1.92 |
| Operating Expenses | |
|---|---|
| Annual | $20,336 |
| Annual Per SF | $3.86 |
| Total Expenses | |
|---|---|
| Annual | $30,452 |
| Annual Per SF | $5.78 |
| Net Operating Income | |
|---|---|
| Annual | $64,552 |
| Annual Per SF | $12.25 |
Property Facts
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Wi-Fi
- Basement
- Deck
- Double Pane Windows
- Family Room
- Lawn
- Porch
- Smoke Free
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Furnished Units Available
- Gas Range
- Smoke Free
- Trash Pickup - Curbside
- Wi-Fi
- Fiber Optic Internet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+4 | 1 | - | 1,620 |
| 5+5 | 1 | - | 2,030 |
1 of 1
Walk Score ®
Very Walkable (79)
zoning
| Zoning Code | R 2.5 |
| R 2.5 |
-
Alex Forster -
Cambridge Cates -
Cates Real Estate Company
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3412 Charlotte St - 3412 Charlotte
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