34 Unit Multifamily Complex For Sale 

2807-15 Merriam Ln Kansas City, KS 66106

Purchase Price 2,300,000.00

Estimated Rehab Costs - $422,000.00

Stabilized Cap Rate - 8.9%

This property is a diamond in the rough. Sits on the cusps of Johnson County adM: just minutes from the Ikea shopping center. Heavy value add property with huge potential upside. The property boasts 34 units on a 2.9 acre lot; 

Central air, and Laundry sites in the building as well

26 - 1-bed/bath up to 734 sq. ft.

7 - 2-bed and 1-bath all are 1,035 sq. ft. 

1 - 3-bed and 2-bath 1,356 sq. ft.

Adjacent to the property sits a vacant 1-acre lot that has the potential to fit 2 new apartment buildings consisting of 8-12 units each. This land is included in the sale. 

Current occupancy sits at about 40%. Electrical wiring needs to be run from new meters to units. Electricity and plumbing are the biggest cause for low occupancy. Can’t rent out a unit with no electricity! Recently completed CapEx covered new roofs, gutters, light fixtures, and fresh paint in units. Other CapEx covered a new security system that is app controlled, wired for google fiber, and a new gas line. 

The financials reflect a terrible management company as well as many units not being able to be rented du to no electrical wiring to the unit

Financials available upon request

🔥Contact me today at 586-556-1365 to set up a walk through and to submit your highest and best offer🔥

BUYERS ARE REQUESTED TO DO THEIR OWN DILIGENCE ON THIS PROPERTY. YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY.

● Buyer pays all closing costs

● Get in touch with us now!

NOTE: YOU ARE STRICTLY PROHIBITED FROM CONTACTING ANY SELLER.

Make an Offer: Submit your offer and information at the top of this screen by clicking "Make an Offer".

Contract: A contract will be delivered electronically once an agreement has been made and must be executed by Final Buyer within 24 hours. Once the contract is signed, we will introduce you to our third party Title Company we use who will help facilitate the closing process.

Earnest Money Deposit (EMD) must be wired to the Title Company within 1 day of Contract signing.

Closing Costs: End Buyer will pay all closing costs and will be outlined on the final settlement statement of the deal. 

💪 YOU CAN CLICK THE 🙌 WIN IT NOW BUTTON AND AVOID ALL THE BIDDING (WHICH WILL HAPPEN ON THIS DEAL) AND 🔐 LOCK IT DOWN RIGHT NOW 💥

DISCLAIMER: This is an Assignment of Contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT Brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.