Seller's Agent in 2020
Aaron Clemons
Clemons Real Estate LLC
(913) 940-2047
2 in this area
36 Total Sales
1409 W Maple Ave Independence, MO 64050
Procter NeighborhoodEstimated Value: $2,796,000
--
Bed
--
Bath
--
Sq Ft
1.66
Acres
About This Home
As of September 2020Calls made over the weekend will be returned the following business day.
The subject offering, Maple Manor Apartments, is a four-building, low-rise apartment complex located just off of Truman Road in Independence, Missouri. The four buildings at 1409-1415 Maple Ave. have brick exteriors and mansard-style roofs. Access to the on-site parking lot (65 spaces) is available to all residents. In total, Maple Manor consists of 8 one-bedroom units, 24 two-bedroom units, and 8 three-bedroom units, all of which are separately metered for electric. There are 17 units receiving HUD Section 8 housing support which also have their utilities paid for by the landlord. The current owners have invested significant capital into the asset within the past 3 years. finishes. Laundry facilities are located onsite. This includes adding new roofs and siding to all 4 buildings and updating the units with newer appliances and durable
With affordable housing becoming a growing need in recent years, Maple Manor provides a necessary affordable housing option for this market. The property should maintain a high level of occupancy and demand in the future.
Although rental rates are in-line with similar properties in this market, there is a significant value upside for an investor to improve operating performance by reducing expenses, particularly through a focused third-party management strategy.
Located in an established submarket, with easy access to entertainment, retail, and job opportunities
Significant revenue upside for investors in reducing operational and mgmt expenses
Separately metered for electric
Onsite parking available for 65 spaces
Last Agent to Sell the Property
Clemons Real Estate LLC License #BR00221922 Listed on: 02/14/2020
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $26,976
Year Built
- Built in 1969
Lot Details
- 1.66
Home Design
- Brick Frame
- Synthetic Roof
- Metal Siding
Parking
- 65 Parking Spaces
- Paved Parking
- Off-Street Parking
Additional Features
- 3-Story Property
- Central Air
- Basement
Community Details
- 40 Units
- Gross Income $281,020
Listing and Financial Details
- Assessor Parcel Number 26-330-10-03-00-0-00-000
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Jan 18, 2024
Sold by
Maple Manor Apartments Llc
Bought by
Maple Manor Mo Llc
Total Days on Market
18
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,060,000
Outstanding Balance
$2,035,583
Interest Rate
7.03%
Mortgage Type
New Conventional
Purchase Details
Listed on
Feb 14, 2020
Closed on
Aug 4, 2020
Sold by
Hwr Holdings Llc
Bought by
Maple Manor Apartments Llc
Seller's Agent
Aaron Clemons
Clemons Real Estate LLC
Buyer's Agent
David Van Noy Jr.
Van Noy Real Estate
List Price
$2,000,000
Sold Price
$2,000,000
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
3.1%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jul 16, 2020
Sold by
Maple Manor Apts Llc
Bought by
Hwr Holdings Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,500,000
Interest Rate
3.1%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Feb 4, 2009
Sold by
Maple Manor Lp
Bought by
Maple Manor Apts Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,107,400
Interest Rate
5.17%
Mortgage Type
Purchase Money Mortgage
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Maple Manor Mo Llc | -- | Stewart Title | |
| Maple Manor Apartments Llc | -- | None Available | |
| Hwr Holdings Llc | -- | Ambassador Title Services | |
| Maple Manor Apts Llc | -- | Old Republic Title Company O |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Maple Manor Apartments Llc | $2,060,000 | |
| Previous Owner | Hwr Holdings Llc | $1,500,000 | |
| Previous Owner | Maple Manor Apts Llc | $1,107,400 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/30/2020 09/30/20 | Sold | -- | -- | -- |
| 03/03/2020 03/03/20 | Pending | -- | -- | -- |
| 02/14/2020 02/14/20 | For Sale | $2,000,000 | -- | -- |
Source: Heartland MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $26,976 | $393,243 | $33,630 | $359,613 |
| 2023 | $26,976 | $393,243 | $33,630 | $359,613 |
| 2022 | $11,031 | $149,340 | $22,924 | $126,416 |
| 2021 | $11,026 | $149,340 | $22,924 | $126,416 |
| 2020 | $11,336 | $149,176 | $22,924 | $126,252 |
| 2019 | $11,154 | $149,176 | $22,924 | $126,252 |
| 2018 | $17,413 | $222,326 | $18,342 | $203,984 |
| 2017 | $16,632 | $222,326 | $18,342 | $203,984 |
| 2016 | $16,632 | $210,254 | $14,110 | $196,144 |
| 2014 | $12,720 | $164,377 | $14,110 | $150,267 |
Source: Public Records
Agents Affiliated with this Home
-
Aaron Clemons
-
David Van Noy Jr.
Buyer's Agent in 2020
David Van Noy Jr.
Van Noy Real Estate
(816) 536-7653
1 in this area
305 Total Sales
Map
Source: Heartland MLS
MLS Number: 2207205
APN: 26-330-10-03-00-0-00-000
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Listing Information presented by local MLS brokerage: TEN-X, INC., local REALTOR®- Arlene Richardson - (888)952-6393
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