10% Cash-on-Cash with 4plex in Kansas City 'burb
FOR SALE - Excellent cash-flowing 4plex building in Lee's Summit, MO. WE have owned this building for 3 years and had planned to keep it longer-term for cash flow, but due to the need to pay off other debts we are wanting to sell it. Appraised in March 2014 for $277,000. Recent updates: new roof in 2012, New HVAC in 2 of the 4 units (other two are approx 8 years old) Many ceramic tile upgrades on all 4 units, some newer appliances. Asking $275,000.
Financial Overview:
Gross Income: $37,500
Taxes: $4,600
Insurance: $2,900
Vacancy & Repairs/Maint $5,625 (15%)
Management $3,000 (8%)
Lawn/Snow $1,200
HOA $60
Net Operating Income: $20,115 CAP Rate: 7.34%
If financed with 20% Down, cash-on-cash ROI would be approx 10.5% after debt service.
For more info, contact Mike at 816-365-7873 or email me at [email protected].
Thank you,