106 SARATOGA Avenue
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $999,000 |
| No. of Units: | 8 |
| Year Built: | 1900 |
| Opportunity Zone: | No |
| Price per unit: | $124,875 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-HMLSKS-2607450
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