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CALL JUSTIN TO FIND OUT MORE: 816-875-6961 |
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27 Cash Flowing Properties... Ready to go! |
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This offering consists of 27 single-family homes in urban Kansas City. The package boasts a 96% occupancy rate (26 of 27) and a strong collection history; the average length of residency is more than 3 years.
The current annual rent roll is at $172,620 (assuming $600 for the one vacancy). There is legitimate upside to $197,100 when fully rented and at current market rates. Many of the rents are under market by 10-20%.
Tenants pay all utilities. Property taxes represent only 5% of the current rent roll and should only shrink as a percentage of income as rents are brought in line with market.
The properties have been owned and well-maintained by one owner for many years and most are conveniently located within a square mile of each other in historic Swope Park. Management is being transitioned for the sale and the long-time owner may be available for an extended period.
At a 15.4% CAP and roughly 50% cash on cash, this is an excellent turnkey cash flow investment. However, there is potential to ratchet up operating cash flow from the projected $85,000 to $105,000, yielding a 17.8% CAP and a +60% cash on cash. |
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| ASKING PRICE: $900,000 Units: 27 Price Per Unit: $33,333 Annual Rent Roll: $172,620 Estimated Annual Expenses: ($31,166) Estimated Annual NOI: $141,454 Estimated Cap Rate: 15.4% |
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