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Dharam Chaudhari

dharam@reco.realestate +1(913) 906-8600

Listed by SimmonsSales Team • RE/MAX Area Real Estate

$999,000

Est. payment - /mo

1.53 Acres Lot

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Package of Properties

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2607450

Year Built 1900

Annual Tax Amount $6,319

Lot Size 1.530 Acres

Acres 1.53

Property Sub-Type Package of Properties

Source hmls

Property Description

Divine Property Management, LLC presents a 6-property residential investment portfolio totaling 8 rental units located throughout Excelsior Springs and Kansas City, Missouri. Offered as a PACKAGE SALE ONLY at $999,000, the portfolio consists of five single-family rental properties plus one triplex. Properties include 51 N Emerson St, Kansas City; 236 Valley St, Excelsior Springs; 1123 St Louis Ave, Excelsior Springs; 1125 St Louis Ave, Excelsior Springs; 1249 St Louis Ave, Excelsior Springs; and 106 Saratoga Ave, Excelsior Springs, a 3-unit property. The portfolio is currently 100% occupied across all 8 rental units and generates $8,525 in current scheduled monthly revenue, or $102,300 annually, based upon current contractual base rents plus recurring monthly pet fees. Seller-supplied annual operating expenses reflected in the portfolio analysis include property taxes of $6,318.40 and insurance of $7,097.00, totaling $13,415.40 and producing a simplified NOI of approximately $88,884.60. At the $999,000 offering price, this equates to an approximate 8.90% simplified going-in capitalization rate based upon the supplied tax and insurance expenses. 106 Saratoga participates in the Excelsior Springs Chapter 353 Tax Abatement District and includes seller-owned coin-operated laundry equipment providing supplemental income not included in the scheduled rental revenue stated above. Portfolio is owner-managed with no third-party property management currently in place. This offering provides investors an opportunity to acquire 8 occupied residential rental units through one coordinated acquisition. Comprehensive portfolio memorandum, lease information, tax, insurance, utility/appliance and seller due-diligence disclosures are available for qualified investor review. Buyer to independently verify all financial, property, lease and operating information during contractual due diligence.

Location

State MO

County Clay

Zoning Multi

Interior

Heating Electric, Forced Air

Cooling Electric, Window Unit(s)

Fireplace N

Appliance Dishwasher, Refrigerator, Electric Range

Laundry Central Laundry, Utility Room

Exterior

Parking Features true

Utilities Available Other

Roof Type Composition,Metal,Tar/Gravel

Building

Story 3

Sewer Public Sewer

Water Public

Structure Type Frame

Schools

School District Excelsior Springs

Others

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

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Dharam Chaudhari

+1(913) 906-8600

FOUNDER | CEO License ID: Licensed in KS,MO,IA,NE

106 SARATOGA AVE Excelsior Springs, MO 64024

Dharam Chaudhari

Key Details

Location

Interior

Exterior

Building

Schools

Others

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106 SARATOGA AVE