Nice 20 Unit Apartment Complex Sold 30% Below Market Value.

201 N Alanthus Ave, Stanberry, MO 64489

$850,000 After Repair Value -
$600,000,000 Asking Price -
$35,000 Cost of Repairs =
$0 Potential Profit

Property Details

Asking Price $600,000,000

After Repair Value $850,000

Costs of Repairs $35,000

Potential Profit $0

Living Area 17220.00 ft2

Property Type Multi-Family

Bedrooms 2

Bathrooms 1

Half Bathrooms N/A

Parking 0

Listed with Agent 0

EPI (Estimated Potential Income)

Potential Rental Income $129,128

Yearly Expenses $55,709

Property Taxes $4,665

Net Operating Income $73,419

Cap Rate 11

Property Description

Value added opportunity because rents are under market value and property is being sold 28% below market value. This property is designated as a 20 unit family apartment complex which is a mix of 14-1 bedroom units and 6-2 bedroom units. The property was constructed in two phases - twelve units were constructed in 1982 and the remaining 8 units were constructed in 1992. There is complex also has a laundry area and a common area. Owner is offering to take back a 20% 2nd mortgage. Buyer may be able to obtain 100% financing to purchase with a 80/20 loan.

Repairs Needed

1) The sidewalks and parking lots need patching. 2) A few outside globe lights need replacing. 3) A few railings need repairing. 4) Trees need trimming. 5) Replacement of a few window screens. 5) 3 vacant units need to carpeting, painting and cleaning.

CONTACT LISTING OWNER

Get direct access to the seller

Save as Favorite
Write a Note

Ask the Seller

Questions on 201 N Alanthus Ave, Stanberry MO

Waiting for the seller to respond your question.

This form is for general questions only. Asking for personal information is not allowed.

Nearby Deals

Some random deals around the area (20)

Hundreds of properties in Missouri! Check Deals in Missouri