Courtesy of: SimmonsSales Team, RE/MAX Area Real Estate, simmons.remax@gmail.com
Courtesy of: SimmonsSales Team, RE/MAX Area Real Estate, simmons.remax@gmail.com
$999,000
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Lot: 1.53 Acres
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Other
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$999,000
106 SARATOGA Avenue 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.
Courtesy of: SimmonsSales Team, RE/MAX Area Real Estate, simmons.remax@gmail.com
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