$1,275,000
This really is $25k per door!!!! Welcome to the Lawndale Apartments, a 51-unit multifamily opportunity in Kansas City’s Historic Northeast. 5701, 5705, & 5609 St John Ave in Kansas City MO. This three-building brick property + one vacant lot, feature a balanced mix of 32 one-bedrooms, 13 studios, and 6 compact basement studios. The tenant base is primarily voucher-supported, ensuring consistent monthly income. With classic architectural details, large windows, and solid construction, the asset offers immediate cash flow and clear value-add potential through interior upgrades. See rent roll for current occupancy, mostly voucher based tenants. Current PM will stay in place. These buildings are no rehabbed and have some deferred maintenance but these are really priced at $25k per door.
Current rents are strong, with spacious one-bedrooms appealing to long-term tenants and studio units especially the basement layouts—providing affordable options in a tight rental market. Investors can renovate units as they turn to capture additional upside while maintaining high occupancy. Operational improvements offer further room for growth.
With scale, a desirable unit mix, and an attractive price-per-door, Lawndale is a rare acquisition in a submarket seeing steady revitalization. Surrounded by local investment and just minutes from downtown, this is a classic Kansas City asset positioned for both stability and long-term value add appreciation potential.
Stable, Largely Voucher Tenant Base
• St John Ave Corridor Location in The Historic Northeast
• On Bus Line and Walkable to Local Businesses
• High income per square foot
• In-place Property Management Specializes in Voucher Tenant Management
5701 Saint John Avenue, Kansas City
Listing courtesy of Michelle Lutz of Lutz Sales + Investments.