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Listed by SimmonsSales Team • RE/MAX Area Real Estate
$ 999,000
Est. payment /mo
Active
106 SARATOGA AVE Excelsior Springs, MO 64024
1.53 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
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
