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3829-3835 Main St
Kansas City, MO 64111
Netherland & Monarch Apartments · Multifamily Property For Sale
·
134 Units
EXECUTIVE SUMMARY
CBRE is pleased to present for sale Netherland & Monarch, two historic conversions featuring 134 modern apartments situated along the Kansas City streetcar line in the dynamic Midtown submarket.
Originally developed in the 1920’s as the historic Netherland hotel, the two properties were converted in 2020-2022 into uniquely branded apartment communities featuring a total of 134 units with first-floor commercial spaces. Serving as a cornerstone of the Midtown submarket, each building underwent a complete transformation, including complete excavation of all materials and replacement of all buildings systems (except select windows preserved as part of the historic tax credit program). Landmark features of the communities now include the Netherland’s Blanc champagne bar and rooftop event space, along with the Monarch’s rooftop pool featuring skyline views. Together, these properties offer a boutique living experience with a mix of historic architecture and modern luxury.
Netherland & Monarch are strategically located on the same block as a platform stop for the Kansas City Streetcar line, providing free and convenient transportation bolstered by reserved parking in surface lots adjacent to the properties. With walkability to the bustling Westport Entertainment District and Main Street corridor, the unit mix was thoughtfully designed and intentionally programmed with 92% studios and one-bedroom units which cater to the young professional demographic.
Owned and managed by the developer, this offering is a rare opportunity to acquire historic, boutique assets with a long-term competitive advantage in Kansas City’s urban core.
CBRE is offering Netherland & Monarch together, UNPRICED, and subject to individual Fannie Mae loan assumptions. A call for offers date will be announced during marketing.
PROPERTY HIGHLIGHTS
1. Assumable Debt Offering Immediate Positive Leverage
2. Previous Building Renovations Allow New Capital to Focus on Rent-Generating Improvements
3. Ideal Unit Mix
4. Located on Kansas City Streetcar Line
5. Midtown Submarket Primed for Wave of Expansion
6. Vibrant Transit-Oriented Location in Heart of the Urban Core
7. Tax Abatement to Enhance Cash Yields
8. Highly Attractive Basis in Irreplaceable Location
9. Organic Rent Upside
10. First Leasing Season without External Impediments
11. Premier Amenity & Commercial Spaces
Originally developed in the 1920’s as the historic Netherland hotel, the two properties were converted in 2020-2022 into uniquely branded apartment communities featuring a total of 134 units with first-floor commercial spaces. Serving as a cornerstone of the Midtown submarket, each building underwent a complete transformation, including complete excavation of all materials and replacement of all buildings systems (except select windows preserved as part of the historic tax credit program). Landmark features of the communities now include the Netherland’s Blanc champagne bar and rooftop event space, along with the Monarch’s rooftop pool featuring skyline views. Together, these properties offer a boutique living experience with a mix of historic architecture and modern luxury.
Netherland & Monarch are strategically located on the same block as a platform stop for the Kansas City Streetcar line, providing free and convenient transportation bolstered by reserved parking in surface lots adjacent to the properties. With walkability to the bustling Westport Entertainment District and Main Street corridor, the unit mix was thoughtfully designed and intentionally programmed with 92% studios and one-bedroom units which cater to the young professional demographic.
Owned and managed by the developer, this offering is a rare opportunity to acquire historic, boutique assets with a long-term competitive advantage in Kansas City’s urban core.
CBRE is offering Netherland & Monarch together, UNPRICED, and subject to individual Fannie Mae loan assumptions. A call for offers date will be announced during marketing.
PROPERTY HIGHLIGHTS
1. Assumable Debt Offering Immediate Positive Leverage
2. Previous Building Renovations Allow New Capital to Focus on Rent-Generating Improvements
3. Ideal Unit Mix
4. Located on Kansas City Streetcar Line
5. Midtown Submarket Primed for Wave of Expansion
6. Vibrant Transit-Oriented Location in Heart of the Urban Core
7. Tax Abatement to Enhance Cash Yields
8. Highly Attractive Basis in Irreplaceable Location
9. Organic Rent Upside
10. First Leasing Season without External Impediments
11. Premier Amenity & Commercial Spaces
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 0.28 AC |
| No. Units | 134 | Building Size | 80,823 SF |
| Property Type | Multifamily | Average Occupancy | 94% |
| Property Subtype | Apartment | No. Stories | 11 |
| Apartment Style | Mid-Rise | Year Built | 1928 |
| Building Class | B | Parking Ratio | 1.48/1,000 SF |
| Sale Type | Investment |
| No. Units | 134 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 80,823 SF |
| Average Occupancy | 94% |
| No. Stories | 11 |
| Year Built | 1928 |
| Parking Ratio | 1.48/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
SITE AMENITIES
- Controlled Access
- Clubhouse
- Fenced Lot
- Fitness Center
- Pool
- Community-Wide WiFi
- Multi Use Room
- Pet Washing Station
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 33 | - | 360 - 11,880 |
| 1+1 | 90 | - | 593 - 50,405 |
| 2+2.5 | 11 | - | 1,327 - 13,270 |
PROPERTY TAXES
| Parcel Number | 30-220-27-09-00-0-00-000 | Improvements Assessment | $3,043,058 CAD |
| Land Assessment | $79,624 CAD | Total Assessment | $3,122,682 CAD |
PROPERTY TAXES
Parcel Number
30-220-27-09-00-0-00-000
Land Assessment
$79,624 CAD
Improvements Assessment
$3,043,058 CAD
Total Assessment
$3,122,682 CAD
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