NOT LISTED FOR SALE

3508 Wilson Ave Leavenworth, KS 66048

Estimated Value: $3,300,000

-- Bed
-- Bath
-- Sq Ft
0.92 Acres

Last Sold October 18, 2024

88 Days on Market

Highlights

  • In Ground Pool
  • No HOA
  • Paved or Partially Paved Lot
  • 40,000 Sq Ft lot
  • Central Air

About This Home

As of October 2024

40 units. 38 are 1BR 1BA, 2 are 2BR 1BA. This is an as-is 7% cap rate with proven ability to hit a 9% cap. Exceptionally high occupancy history, well maintained and professionally operated. This is a GEM that you need to see. Each one bedroom unit is very spacious (see photos and tours) with many upgrades and modern finishes. Every unit has it's own exterior access - reducing owner expenses (hallway CAM) and gives tenants sense of privacy (stay longer, rent faster). A beautiful pool attracts great rents and great tenants. All units have modern comfort of central heating and cooling with many updated heating and cooling elements. Located next to University of Saint Mary, VA Medical Center, region's hospital, and all major retailers and job centers for the county. Sandwiched between Leavenworth and Lansing and just north of downtown KC, this is a exceptional asset that is easy to operate and gives any new ownership group in place cash flow. Upgrade units by adding washer and dryer in unit to get top of market rents, finish remaining units to more high end finishes. Sell off parcels over time, build additional units, or keep for long term wealth. Includes 69 Ash, 59 ash and the Wilson properties (8 total parcels). 59 ash is a vacant lot zoned residential - build additional units, a house to flip or maintain for resident privacy.

Last Agent to Sell the Property

Alex Olson

Legendary Apartment Brokers Brokerage Phone: 816-591-0825 License #2019043249 Listed on: 07/18/2024

Last Buyer's Agent

Alex Olson

Legendary Apartment Brokers Brokerage Phone: 816-591-0825 License #2019043249 Listed on: 07/18/2024

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $30,000

Year Built

  • Built in 1976

Lot Details

  • 0.92 Acre Lot
  • Paved or Partially Paved Lot

Parking

  • Off-Street Parking

Home Design

  • Slab Foundation
  • Brick Frame
  • Composition Roof

Kitchen

  • Free-Standing Electric Oven
  • Dishwasher
  • Disposal

Utilities

  • Central Air
  • Heating System Uses Natural Gas

Additional Features

  • 3-Story Property
  • In Ground Pool

Listing and Financial Details

  • Assessor Parcel Number 101-12-0-10-04-003.00-0
  • $0 special tax assessment

Community Details

Overview

  • No Home Owners Association
  • 40 Units

Recreation

  • Community Pool

Building Details

  • Gross Income $469,440

Property Details

Home Type

Apartment

Est. Annual Taxes

$30,000

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Apartment
  • Year Built: 1976
  • Internet Address Display: Yes
  • Internet Consumer Comment: No
  • List Agent Full Name: Alex Olson
  • List Office Mls Id: HMSLEAB
  • List Office Name: Legendary Apartment Brokers
  • List Office Phone: 816-591-0825
  • Mls Status: Sold
  • Operating Expense: 167664
  • Age Description: 41-50 Years
  • Tax Special Amount: 0
  • Tax Total Amount: 30000
  • Value Range Pricing YN: 0
  • Maintenance Provided YN: 0
  • Special Documents Required YN: 0
  • Major Repair Costs: 0.00
  • Package: No
  • Attribution Contact: 816-591-0825
  • Special Features: VirtualTour

Interior Features

  • Appliances: Dishwasher, Disposal, Refrigerator, Free-Standing Electric Oven
  • Basement: No
  • Laundry Features: Central Laundry
  • Stories: 3

Exterior Features

  • Roof: Composition
  • Construction Materials: Brick & Frame, Concrete, Slab Construction
  • Pool Features: Inground
  • Road Surface Type: Paved

Garage/Parking

  • Garage: No
  • Parking Features: Off Street

Utilities

  • Cooling: Electric
  • Heating: Electric, Natural Gas
  • Sewer: City/Public
  • Utilities: Ind Heat And Air, Ind Water Heaters
  • Cooling: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association Amenities: Pool
  • Association Fee Frequency: None
  • Type Of Management: Other

Association/Amenities

  • Association: No

Fee Information

  • Deposit: Superior Ttle and Escrow

Schools

  • Junior High Dist: Leavenworth

Lot Info

  • Zoning: R-MF
  • Lot Size Area: 40000
  • Lot Size Sq Ft: 40000
  • Parcel Number: 101-12-0-10-04-003.00-0
  • Subdivision Name: Other
  • ResoLotSizeUnits: SquareFeet
  • In Flood Plain: No

Building Info

  • Number of Units Total: 40

Rental Info

  • Existing Lease Terms: One Year Lease

Multi Family

  • Gross Income: 469440
  • Current Occupancy Rate: 90-95%
  • Unit Count: 2

Tax Info

  • Tax Annual Amount: 30000
  • Tax Abatement YN: 0

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/18/2024 10/18/24 Sold -- -- --
10/15/2024 10/15/24 Pending -- -- --
07/18/2024 07/18/24 For Sale $3,300,000 -- --
Source: Heartland MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Heartland MLS

MLS Number: 2499234

Heartland MLS