NOT LISTED FOR SALE

321 S Cherry St Olathe, KS 66061

Estimated Value: $255,000

3 Beds
3 Baths
1,335 Sq Ft
$191/Sq Ft Est. Value

Last Sold October 17, 2019

Current estimated payment $1,567/month

8 Days on Market

About This Home

As of October 2019

Triplex Turn Key Investment Property with great Cap Rate. 100% Occupancy with long term tenants(700+550+400). Yearly lease through 2020. In the middle of downtown Olathe, walking distance to the courthouse! Newly bathroom renovated in UnitA, Newly water heather, sum pump, the whole gas line, and furnace!
Bring in all offers! Need to 1031 and move fast.
Selling in its present condition. Owner-agent

Last Agent to Sell the Property

Ashley Stone

Platinum Realty LLC License #SP00236467 Listed on: 08/28/2019

Platinum Realty LLC

Last Buyer's Agent

Anthony Kisivo

EXP Realty LLC License #BR00228515

EXP Realty LLC

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1900

Lot Details

  • 5,847 Sq Ft Lot

Parking

  • Off-Street Parking

Home Design

  • Triplex
  • Frame Construction
  • Composition Roof
  • Stone Trim

Interior Spaces

  • 2-Story Property
  • Radiant Floor

Utilities

  • Window Unit Cooling System
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Assessor Parcel Number DP52000068 0016

Community Details

Overview

  • 3 Units
  • Olathe Subdivision

Building Details

  • Gross Income $19,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Triplex
  • Age Description: 101 Years/More
  • Legal Description: OLATHE S 10'LOT15 ALL LOT 16 &N 5'L
  • Package: No
  • Year Built: 1900
  • Exclude From Reports: No
  • Internet Address Display: Yes
  • Internet Automated Valuation Dis: No
  • Internet Consumer Comment: No
  • Internet Entire Listing Display: Yes
  • List Agent Full Name: Ashley Stone
  • List Office Mls Id: PRKC
  • List Office Name: Platinum Realty LLC
  • List Office Phone: 888-220-0988
  • Maintenance Provided: No
  • Mls Status: Sold
  • Operating Expense: 6969
  • Special Documents Required: No
  • Unit Type: 3 Bedroom
  • Value Range Pricing: No
  • Special Features: None

Interior Features

  • Basement: No
  • Stories: 2

Exterior Features

  • Roof: Composition
  • Construction Materials: Frame, Stone Trim

Garage/Parking

  • Garage: No
  • Parking Features: Off Street

Utilities

  • Cooling: Window Unit(s)
  • Heating: Natural Gas, Radiant
  • Sewer: City/Public
  • Utilities: Other
  • Cooling: No
  • Water Source: City/Public

Condo/Co-op/Association

  • Type Of Management: Owner Manager

Lot Info

  • In Floodplain: No
  • Zoning: single
  • Lot Size Area Units: Square Feet
  • Lot Size Sq Ft: 5847.00
  • Parcel Number: DP52000068 0016
  • Subdivision Name: Olathe

Rental Info

  • Existing Lease Terms: Negotiable

Building Info

  • Number of Units Total: 3

Multi Family

  • Gross Income: 19800
  • Current Occupancy Rate: Over 95%
  • Operating Expenses Include: All Utilities

Tax Info

  • Tax Abatement: No

MLS Schools

  • School District: Olathe

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 29, 2014
Sold by
Smith Jordan D and Smith Tracey
Bought by
Stone Erik and Stone Acharawaree
Current Estimated Value
$255,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$61,575
Outstanding Balance
$19,237
Interest Rate
4.25%
Mortgage Type
Commercial
Estimated Equity
$235,763

Purchase Details

Closed on
Jul 10, 2008
Sold by
Smart Properties Llc
Bought by
Smith Jordan D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$59,250
Interest Rate
6.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 28, 2007
Sold by
Smart Stace J and Smart Kristy L
Bought by
Smart Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$55,875
Interest Rate
6.21%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 16, 2007
Sold by
Goncalves Levi L and Goncalves Tania L
Bought by
Smart Stacey J and Smart Kristy L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$55,875
Interest Rate
6.21%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 14, 2001
Sold by
Mullins William H and Mullins Norma R
Bought by
Latorre Waldir M and Latorre Odelia M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
6.52%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Stone Erik -- Kansas Secured Title
Smith Jordan D -- Continental Title Co
Smart Properties Llc -- None Available
Smart Stacey J -- Continental Title Co
Latorre Waldir M -- Kansas Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Stone Erik $61,575
Previous Owner Smith Jordan D $59,250
Previous Owner Smart Stacey J $55,875
Previous Owner Latorre Waldir M $60,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/17/2019 10/17/19 Sold -- -- --
08/28/2019 08/28/19 For Sale $135,000 -- $101 / Sq Ft
Source: Heartland MLS

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
2025 $2,917 $30,464 $6,785 $23,679
2024 $2,917 $26,531 $3,695 $22,836
2023 $3,041 $26,818 $3,695 $23,123
2022 $2,574 $22,160 $3,361 $18,799
2021 $1,978 $16,192 $3,057 $13,135
2020 $1,881 $15,272 $2,780 $12,492
2019 $1,662 $13,444 $2,414 $11,030
2018 $1,574 $12,661 $2,193 $10,468
2017 $1,431 $11,419 $2,193 $9,226
2016 $1,239 $10,189 $2,193 $7,996
2015 $1,121 $9,257 $2,193 $7,064
2013 -- $8,889 $2,003 $6,886
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Heartland MLS

MLS Number: 2185741

Heartland MLS

APN: DP52000068-0016

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