Martini Corner Quad | 62 E 32nd St
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Martini Corner Quad 62 E 32nd St
4 Unit Apartment Building $825,000 ($206,250/Unit) 5.03% Cap Rate Kansas City, MO 64111
Investment Highlights
- Private porch areas and common area firepit
- Tenants pay all own utilities
- Low lawn maintenance - all rock
Executive Summary
Prime investment opportunity close to Downtown and Plaza areas of Kansas City and right off the new street car expansion line. This is a rare newer construction 4 building multi-family with modern finish levels and fully occupied. Off street parking. Tenants pay all utilities except for water and one unit is vacant for a potential owner occupant house hack. Walking distance to food/entertainment. One lot for easy management. Market rents are currently low and there is upside potential there.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$66,960
|
$20.93
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$66,960
|
$20.93
|
| Taxes |
$13,500
|
$4.22
|
| Operating Expenses |
$8,000
|
$2.50
|
| Total Expenses |
$21,500
|
$6.72
|
| Net Operating Income |
$45,460
|
$14.21
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $66,960 |
| Annual Per SF | $20.93 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $66,960 |
| Annual Per SF | $20.93 |
| Taxes | |
|---|---|
| Annual | $13,500 |
| Annual Per SF | $4.22 |
| Operating Expenses | |
|---|---|
| Annual | $8,000 |
| Annual Per SF | $2.50 |
| Total Expenses | |
|---|---|
| Annual | $21,500 |
| Annual Per SF | $6.72 |
| Net Operating Income | |
|---|---|
| Annual | $45,460 |
| Annual Per SF | $14.21 |
Property Facts
| Price | $825,000 | Apartment Style | Low Rise |
| Price Per Unit | $206,250 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 3,200 SF |
| Cap Rate | 5.03% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2019 |
| Property Subtype | Apartment |
| Price | $825,000 |
| Price Per Unit | $206,250 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Lot Size | 0.19 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2019 |
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Refrigerator
- Porch
Site Amenities
- Green Community
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $1,395 | 800 |
1 of 1
Walk Score ®
Very Walkable (88)
Bike Score ®
Very Bikeable (73)
zoning
| Zoning Code | Res (Residential) |
| Res (Residential) |
-
Ashley Kendrick -
Chartwell Realty
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Martini Corner Quad | 62 E 32nd St
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