Trolley Park Lofts
Multifamily | 55 Units | Upscale Urban Living in Downtown Kansas City
Marketing description
Berkadia is pleased to present the exclusive opportunity to acquire Trolley Park Lofts, a coveted multifamily loft asset located in Downtown Kansas City, MO – just minutes from the T-Mobile Center, Power & Light District and a host of major local employers.
Trolley Park Lofts was originally constructed in 1907 for the Noyes/Norman Shoe Company of St. Joseph, serving as a manufacturing and storage facility. Designed by notable Kansas City architects Shepard & Farrar, the building reflects an Industrial/Neoclassical Revival aesthetic characteristic of the era. While the ground-floor storefronts have been modernized over time, the upper floors and overall structural character remain largely intact. Consistent with much of the surrounding Garment District, the property has its roots in the early twentieth-century textile and apparel trade, when major clothing and shoe companies used these buildings to distribute product across regional and national markets.
Fully renovated in 2014, Trolley Park Lofts offers 55 units, comprised of 29 one-bedroom units and 26 two-bedroom residences, with an average size of 907 square feet. Loft-style units feature elevated ceiling heights, enhancing natural light and openness throughout the living areas. Residents enjoy walkability to neighborhood amenities, in addition to spacious floor plans, high ceilings and a comprehensive amenity package including a fitness center, clubhouse, outdoor common areas, controlled access system, bicycle storage, lobby area and resident storage space. The property also features approximately 6,800 square feet of ground floor commercial office space that is currently leased to a single tenant through November 2030.
With in-place rents below those of many competing properties, there is significant potential to increase revenue through a strategic value-add program.
Contact us today to discuss this unique investment opportunity in further detail and to arrange a property tour.
LINK TO PROPERTY WEBSITE AND DOCUMENT CENTER: https://properties.berkadia.com/trolley-park-lofts-493117/
Investment highlights
- 55 total units, featuring 29 one-bedroom and 26 two-bedroom units
- Spacious units average unit size of 907 square feet with high loft ceilings, including exposed wood beams
- Fully renovated 2014 including updated unit interiors and amenities
- $280K in recent CapEx since current Owner’s acquisition in 2024, approximately $200k for replacement of entire elevator hydraulic system and $80K for installation of new HVAC in roughly 10 units
- Value-add potential through strategic in-unit upgrades
- Below market rents significant potential to increase revenue
- Ground floor commercial space currently leased to a single tenant, the City Metropolitan Crime Commission, through November 2030. The City Metropolitan Crime Commission is a long-established organization that has been in operation since 1949.
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