$979,000
$979,000
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1.54 Acres Lot
SOLD DATE : 09/01/2023
Key Details
Sold Price $979,000
Property Type Multi-Family
Sub Type Package of Properties
Listing Status Sold
Purchase Type For Sale
Subdivision Marlborough Heights
MLS Listing ID 2434401
Sold Date 09/01/23
Annual Tax Amount $5,072
Lot Size 1.540 Acres
Acres 1.54
Property Description
Please see Offering Memorandum in supplements for more detailed analysis of the portfolio including individual property overviews, financial breakdown and other helpful info. See Addendum A or OM for list of addresses. The subject offering consists of 10 single-family rental properties in Kansas City, Missouri. All homes are situated blocks off the Paseo Boulevard and provide similar levels of make and finish. In Q4 of 2022, current ownership made in a change in 3rd party management and since, has maintained high levels of occupancy with decreased spending (currently 100% occupied). Two of the tenants that occupy these single-family rentals are on Section 8/housing vouchers. All homes in the portfolio have hardwood floors, washer/dryer hookups, basements and at least two bedrooms and one bathroom. Specific homes have washer/dryers provided by the landlord, fireplaces, garages/sheds, fenced lots and multiple levels. The portfolio provides new ownership a great value-add opportunity with potential to sell homes individually to maximize value in a residential market in need of inventory with strong demand. Incremental improvements to the property including the conversion to central air in all homes, landlord provided washer/dryers in all units and uniform make-readies to kitchens and bathroom will result in higher rents exceeding $1,000+. Homes along the Paseo have a close proximity to Brookside Shopping District, Waldo District, Rockhurst University, UMKC, Country Club Plaza, Loose Park, Swope Park and Research Medical Hospital.
Location
State MO
County Jackson
Zoning R-5
Rooms
Basement true
Interior
Heating Forced Air
Cooling Electric, Window Unit(s)
Fireplace N
Exterior
Garage true
Utilities Available Ind Heat And Air, Ind Water Heaters, Separate Meters
Roof Type Composition
Building
Story 1
Sewer City/Public
Water Public
Structure Type Stucco, Wood Siding
Schools
School District Kansas City Mo
Others
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
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