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QUAIL CREEK APARTMENTS FOR SALE
913 North 72nd Street
Kansas City, KS 66112
County: Wyandotte
65 Units
57,601 sq ft
Occupancy: 90%
Price: $2,200,000
Price Per Unit: $33,846
Cap Rate: 8.80%
Year Built: 1962
Quail Creek
Apartments is another great opportunity being
offered by The Neighborhood Group. 65 units in a
great area near shopping, Lowes Hardware Store and
also across the street from the Kansas City Kansas
Community College. The units are large (one bedrooms
are 920 square feet) and with this property having a
renovation in the last year, that included new
roofs, new windows, new patio sliders, painted
exterior and repaired decks.
All your major
capital improvements are done. With this renovation,
your maintenance expenses are lower and another
reason why this is a great property for your next
purchase.
The property
has been mismanaged and now with professional
management, we can deliver this property with the
potential of higher revenue numbers and a better Net
Operating Income. Recently passed County inspection
with flying colors.
Located across from the Kansas City Kansas Community
College, Lowes Hardware Store is to the East.
Located just off State Avenue, the main drive toward
the "Legends" Shopping center makes this property
easy access for all your tenants.
Financial Summary Proforma
Year: 2008
Scheduled Gross Income: $367,440
Effective Gross Income: $391,719
Operating Expenses: $199,000
Net Operating Income: $192,719
Unit Mix Information
One Bedroom - One bath
51 Units
700 sq ft
Avg. Mo. Rent: $450
One Bedroom - One bath Deluxe
2 Units
920 sq ft
Avg. Mo. Rent: $535
Two Bedroom - One bath
12 Units
920 sq ft
Avg. Mo. Rent: $550
call Michael Napovanice at (913)
362-6996 Ext: 201
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Apartment Investments
A Great New Book Full of What Investors
Need to Know.
Comment
Dear
Richard,
Thank You very much for your help on the
financing. The rate turns out to be better than
expected...
Joe D.
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