48-Unit Value-Add Multifamily Investment | 7.25% Proforma Cap Rate (Y2)

For Sale

1500 E 29th St, Kansas City, MO 64109

This Kansas City property for sale is located at 1500 E 29th St. Contact the listing broker for details on the current sale price for 48-Unit Value-Add Multifamily Investment | 7.25% Proforma Cap Rate (Y2).

Contacts

Holly Mills, MAI, CCIM

Crossroads Real Estate Group

Property Details

  • Property Type Multi-Family
  • Property Size 31,200 SF
  • Units 48
  • Parking Spaces Avail. 56
  • Parking Ratio 1.17 / 1,000 SF
  • Year Built 1987
  • Date Updated Sep 28, 2026
LocationCrossroads Real Estate Group has been exclusively retained to offer Lakeview II Apartments, a 48-unit, three-story multifamily community in the heart of Kansas City, Missouri. The property features updated one-bedroom, one-bathroom units that compete well within the market and is offered at $75,000 per unit, or $115.38 per square foot -well below replacement cost. Lakeview II offers a value-add opportunity supported by its lakeside setting and potential for operational improvement through focused leasing and management. The property presents an opportunity for a new owner to evaluate targeted capital improvements and operational initiatives over time. Management has accelerated leasing by developing relationships with housing-focused nonprofit organizations that lease units directly and refer qualified residents. This differentiated demand channel can help support occupancy through market cycles, while the recent increase in self-pay residents further demonstrates the property’s appeal and value. Current occupancy reflects the benefits of the renovated units, efficient layouts, and elevator access. In-place rents are supported by comparable properties, creating an opportunity to build additional market share.
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Highlights

  • ABUNDANT PARKING - Surface & Covered
  • ATTRACTIVE SETTING - Adjacent to Popular Troost Lake
  • MITIGATED CAPITAL RISK - Many Recent Improvements (Roof 2017)
  • RENOVATED UNITS - Reduced Capital Risk
  • STEADY TENANT DEMAND - Demonstrated Quoted Rent Capture
  • TRANSPORTATION ACCESS - Proximity to MAX Route
  • VALUE ADD Upside via Management & Leasing

Getting around

  • 47/100

    Walk Score ®

  • 45/100

    Transit Score ®

  • 36/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Kansas City, MO
  • Neighborhood Mount Hope
  • Zip Code 64109
  • Market Kansas City

Points of Interest

  • 22nd at Vine

    0.81 miles

  • Crossroads

    1.50 miles

  • Kauffman Center

    1.74 miles

  • Power and Light

    1.86 miles

  • Metro Center

    2.02 miles

  • Library

    2.24 miles

  • North Loop

    2.36 miles

  • City Market

    2.54 miles

  • River Market West

    2.61 miles

  • River Market North

    2.65 miles

  • Shell

    0.50 miles

  • Sinclair

    0.57 miles

  • 7-Eleven

    0.86 miles

  • BP

    1.01 miles

  • Costco Gasoline

    1.06 miles

  • Finish Line

    1.51 miles

  • ChargePoint

    2.67 miles

  • Park & Ride

    0.46 miles

  • Paseo Baptist Parking

    0.51 miles

  • Bethel AME Church Parking

    0.62 miles

  • Teocali Parking

    0.74 miles

  • Hospital Hill Garage

    0.80 miles

  • Vine Street Lofts Parking

    0.86 miles

  • Emergency Medicine Patient Parking

    0.86 miles

  • ISS Parking

    1.17 miles

  • KCATA Parking

    1.22 miles

  • Burger King Parking

    1.30 miles

  • La Quinta Inn & Suites Kansas City Beacon Hill

    0.74 miles

  • Fairfield Inn Kansas City Downtown/Union Hill

    1.06 miles

  • Sheraton Kansas City Hotel at Crown Center

    1.10 miles

  • The Westin Crown Center

    1.15 miles

  • Hotel Indigo Kansas City - The Crossroads

    1.34 miles

  • Quality Inn & Suites Kansas City Downtown

    1.35 miles

  • Home2 Suites Kansas City Downtown

    1.41 miles

  • Crossroads Hotel

    1.53 miles

  • Hampton Inn & Suites

    1.73 miles

  • Residence Inn Kansas City Downtown/Convention Center

    1.77 miles

  • Sun Fresh Market

    0.67 miles

  • Save-A-Lot

    0.80 miles

  • Crown Center Shops

    1.08 miles

  • Halls Kansas City

    1.11 miles

  • Community Groceries

    1.34 miles

  • ALDI

    1.37 miles

  • Happy Food Center

    1.59 miles

  • Midtown Market

    1.75 miles

  • Heart of America Market

    1.78 miles

  • Cosentino's Downtown Market

    1.96 miles

Contact Listing Broker
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