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Mix Packet of Four Rented Duplexes, 5-Units Apt. Building + A Store [Kansas City Metro]

Asking
401 N 7th St,
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SOLD

Overview

  • Updated On:
  • June 2, 2021

Property Description

Important note: the seller will ONLY accept offer/s that includes all FIVE properties

About this packet has:

  1. Four duplexes (i.e. 8  doors/units)
    1. Simply Do It’s suggested offer per duplex: $180,000
  2. One 5-units apartment building + a storefront
    1. Simply Do It’s suggested offer for the building: $255,000
  3. Asking price for the entire packet: $1,045,000

IMPORTANT

  1. Actual address: call/email/ask us.
  2. Any rental and lease info has not been verified yet – the seller will only be able to provide such info after offer acceptance (we are still trying to get some of the info sooner rather than later)
  3. Priority will be given to investor-buyers that are able to buy multiple properties – One buyer can buy the entire package, or multiple buyers can each buy one and anything in between.

 

  1. 5-unit building
    1. The apts are 2 studios, a 1bd, a 2bd, and a 3bd. 
    2. Is there parking? Yes, there is designated parking right outside the building.
    3. Is there additional space (basement/storage)? There is a full unfinished basement for storage
    4. Any of the duplexes/Apt. – are any sec.8 or other gov. agency program? No
    5. Is the retail part of the building OR a separate title? It is part of the building
    6. Notes from the seller:
      1. There are no maintenance issues except for what may be when a tenant moves out.
      2. All units are currently rented.
      3. The roof is less than 10 years old.
  2. Duplexes
    1. Basements: do they have ones? un/finished? There is no basement in the duplexes. The garage level is the lowest level.
    2. All duplexes are: 3/2, Built in 2000

 

 

Financial Info

Duplexes

Duplex Jan 21 Feb 21 Mar 21 Apr 21 Total Per Unit (Ann.)
201 $825 $825 $825 $825 $9,900
203 $825 $825 $825 $825 $9,900
Ar. Se. $1,650 $1,650 $1,650 $1,650 $19,800
406 $895 $895 $895 $9,845
408 $825 $900 $900 $8,700
Ey. To. $1,720 $0 $1,795 $1,795 $18,545
503 $850 $850 $850 $850 $9,350
504 $895 $895 $895 $895 $10,740
Or. Fl. $1,745 $1,745 $1,745 $1,745 $20,090
505 $825 $825 $825 $825 $9,900
506 $895 $895 $895 $895 $10,740
Ma. Oc. $1,720 $1,720 $1,720 $1,720 $20,640
Total $6,835 $5,115 $6,910 $6,910 $79,075

Av. Ra (215)
Gi. Se.

Duplex-Fin-Analysis

 

 

Lease Info
Duplex Lease Y/N Lease begins Lease ends Mo Rent Is rent current Security Deposit Tenant pays* RE Taxes 2020 (estimated) Mo. Insurance (estimated)
201 Y M2M M2M 850 yes 850 H | HW | G | E | W | S $1,440 $59
203 N 07/18 06/19 825 yes 825 H | HW | G | E | W | S $1,440 $59
406 Y 03/21 03/22 940 yes 940 H | HW | G | E | W | S $1,440 $59
408 Y 11/20 10/21 895 yes 895 H | HW | G | E | W | S $1,440 $59
503 Y 09/20 10/21 850 yes 850 H | HW | G | E | W | S $1,440 $59
504 Y 05/20 04/21 895 yes 895 H | HW | G | E | W | S $1,440 $59
505 N 03/18 03/19 825 yes 825 H | HW | G | E | W | S $1,440 $59
506 N 03/19 03/20 895 yes 895 H | HW | G | E | W | S $1,440 $59

*H – Heat, HW – Hot Water, E – Elec., W – Water, S – Sewer, G – Gas

 

Apt. Building

  • Bldg Sq Ft: 8,600
  • Lot Sq Ft: 5,663
  • Yr Built: 1897
Retail store $725 $725 $725 $725 $8,700
Apartments
Apt 1 $350 $350 $350 $350 $4,300
Apt 2 $375 $375 $375 $375 $4,475
Apt 3 $500 $500 $500 $500 $6,000
Apt 4 $400 $400 $400 $400 $4,000
Apt 5 $500 $500 $500 $500 $5,500
$2,125 $2,125 $2,125 $2,125 $24,275
Total $2,850 $2,850 $2,850 $2,850 $32,975

Rental COMPs: there is not enough data to run COMPs analysis in the area.

Building-Analysis

 

Lease Info
Retail Lease Y/N Lease begins Lease ends Mo Rent Is rent current Security Deposit Tenant pays* RE Taxes 2020 (estimated)
Mo. Insurance (estimated)
Retail store missing (blank) (blank) 775 yes (blank) H | HW | G | E | W | S
Apartments
Apt 1 3/21 (blank) (blank) 375 vacant 375 H | HW | G | E | W | S
Apt 2 Y 06/20 05/21 375 yes 375 H | HW | G | E | W | S
Apt 3 Y 10/20 09/21 400 yes 400 H | HW | G | E | W | S
Apt 4 Y 01/21 01/22 450 yes 450 H | HW | G | E | W | S
Apt 5 Y 01/21 01/22 475 yes 475 H | HW | G | E | W | S
$1,349 $318

*H – Heat, HW – Hot Water, E – Elec., W – Water, S – Sewer, G – Gas

 

EXPENSES

Jan 21 Feb 21 Mar 21 Apr 21 Total Per Expense
Maintenance $192 $0 $800 $340 $5,293
Management Fee $877 $878 $882 $882 $6,064
Insurance Duplexes
$5,623
Insurance Apartments
$3,818
Property Taxes Duplexes
$10,168
Property Taxes Apts & Retail
$1,349
Total Annual Exp
$1,069 $878 $1,682 $1,222 $32,314.88

 

Multi-Property Disclosure

Multi_Family_Property_Disclosure

 

 

FAQ

  • Can I buy with a mortgage?
    • Yes, and we have preferred lenders for you to use if you wish.
  • Do you know the condition of each unit internally?
    • Not yet.
  • Do you have a local property manager we can use?
    • Yes, we sure do.
  • Can I buy cash?
    • Yes, of course.
  • Can I buy more than 1 property?
    • Yes
  • Is there a way for me to buy all and get financing for all of them under 1 mortgage?
    • Generally speaking yes, and we have a lender who may be able to do it.

 

Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.

Address: 401 N 7th St
State/County:
Zip: 64477
Country: United States
Open In Google Maps
Property Id : 31128
House Number: 401
walkscore38 / Car-Dependent more details here

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