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3560 S Lynn Street

Independence, MO 64055
  • $399,000
  • STATUS: Active
  • ON SITE: 152 Days
  • ID#: 2443713
UPDATED: 86 min ago
$399,000
  • 0
    BEDS
  • 0.3
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1969
County:

School Ratings & Info

School District:

Description

3560 S. Lynn Street is a 4-unit, brick exterior building located at the end of a quiet cul-de-sac in Independence, Missouri. Built in 1969, the property dwells in a neighborhood of rental properties and provides tenants 6 off-street parking spaces at the rear of the building. The Lynn property stands 2-stories on a slab with a pitched composition shingle roof on over a quarter acre lot. The building is separately metered for gas, electric and water (tenants responsible for all utilities + trash) and the building has completed significant renovations over the last year mainly to the exterior/cosmetics with light unit rehabs. These capital improvements are highlighted by the new roof, new deck/stairs, new HVAC and unit make-readies/renovations ($68,000+ in CAPEX last 12 months). All units at the property are two-bedroom, one-bathroom units with an approximate unit size of 750 square-feet (+/-). All units have front/rear access and are identical footprints. All units feature washer/dryer hookups, vinyl flooring, carpeted bedroom, ceiling fans, good closet space and individual mechanical rooms. Three of the four units have windows units for cooling while the other has central air. 3560 Lynn has excellent commuter accessibility to highways/interstates and nearby shops/restaurants. The building has a history of high occupancy (100% currently) with efficient 3rd party management in place. The asset presents an appeal to both the stabilized and value-add investor. Buyer could continue to manage property as-is with small incremental improvements or look to enhance finishes, install central air in the remaining 3 units, and provide laundry equipment in units to increase rents.

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Heartland MLS Terms of Use

The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. ("Heartland MLS"). Copyright 2023, Heartland Multiple Listing Service, Inc. Heartland MLS and Ron Henderson & Associates | Keller Williams Northland Partners do not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non-commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring. The data relating to real estate displayed on this website comes in part from the Heartland Multiple Listing Service database compilation. Data last updated: 2023-12-07T13:45:31.25.

Based on information submitted to the MLS GRID as of 2023-12-07T13:45:31.25 All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.kansascityagent.com/homes/141283369
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3560 S Lynn Street Independence, MO 64055

  • Price: $399,000
  • Status: Active
  • On Site: 152 Days
  • Updated: 86 min ago
  • ID#: 2443713
0
Beds
0
Baths
0
½ Baths
0.3
Acres
1969
Built
Neighborhood:
Harvest Village
County:
Jackson
Area:
206 - Independence Area
School District:
Independence
Property Description
3560 S. Lynn Street is a 4-unit, brick exterior building located at the end of a quiet cul-de-sac in Independence, Missouri. Built in 1969, the property dwells in a neighborhood of rental properties and provides tenants 6 off-street parking spaces at the rear of the building. The Lynn property stands 2-stories on a slab with a pitched composition shingle roof on over a quarter acre lot. The building is separately metered for gas, electric and water (tenants responsible for all utilities + trash) and the building has completed significant renovations over the last year mainly to the exterior/cosmetics with light unit rehabs. These capital improvements are highlighted by the new roof, new deck/stairs, new HVAC and unit make-readies/renovations ($68,000+ in CAPEX last 12 months). All units at the property are two-bedroom, one-bathroom units with an approximate unit size of 750 square-feet (+/-). All units have front/rear access and are identical footprints. All units feature washer/dryer hookups, vinyl flooring, carpeted bedroom, ceiling fans, good closet space and individual mechanical rooms. Three of the four units have windows units for cooling while the other has central air. 3560 Lynn has excellent commuter accessibility to highways/interstates and nearby shops/restaurants. The building has a history of high occupancy (100% currently) with efficient 3rd party management in place. The asset presents an appeal to both the stabilized and value-add investor. Buyer could continue to manage property as-is with small incremental improvements or look to enhance finishes, install central air in the remaining 3 units, and provide laundry equipment in units to increase rents.
Exterior Features

Construction Materials Brick VeneerConcrete Garage YN No Parking Features Off Site Parking Total 6 Roof Composition

Interior Features

Basement YN No Cooling ElectricWindow Unit(S) Cooling YN No Heating Forced Air Laundry Features Utility Room Unit Type Type 2 Bedroom

Property Features

Age Description 51-75 Years Association Fee 0 Association Fee Frequency None Association YN No In Flood Plain No Listing Agreement Exclusive Right To Sell Listing Terms CashConventional1031 Exchange Maintenance Provided YN No Possession Funding Property Sub Type Quadruplex Sewer City/Public Tax Total Amount 2470 Utilities Ind Water HeatersSeparate Meters Water Source Public Zoning R

Listing information © 2023 Heartland MLS as distributed by MLSGRID.
Listing courtesy of Compass Realty Group.



Heartland MLS Terms of Use

The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. ("Heartland MLS"). Copyright 2023, Heartland Multiple Listing Service, Inc. Heartland MLS and Ron Henderson & Associates | Keller Williams Northland Partners do not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non-commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring. The data relating to real estate displayed on this website comes in part from the Heartland Multiple Listing Service database compilation. Data last updated: 2023-12-07T13:45:31.25.

Based on information submitted to the MLS GRID as of 2023-12-07T13:45:31.25 All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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