$399,000
SOLD NOV 26, 2024
Last list price
-- Bed
-- Bath
-- Sq Ft
0.3 Acres

Recently Sold

9 Days on Market

Highlights

  • No HOA
  • Forced Air Heating and Cooling System
  • Utility Room

About This Home

As of November 2024

3560 S. Lynn Street is a 4-unit, brick exterior building located at the end of a quiet cul-de-sac in Independence, Missouri. Built in 1969, the property dwells in a neighborhood of rental properties and provides tenants 6 off-street parking spaces at the rear of the building. The Lynn property stands 2-stories on a slab with a pitched composition shingle roof on over a quarter acre lot. The building is separately metered for gas, electric and water (tenants responsible for all utilities + trash) and the building has completed significant renovations over the last two years. These capital improvements are highlighted by the new roof, new deck/stairs, new HVAC, new furnace and unit make-readies/renovations (3 of 4 units). All units at the property are two-bedroom, one-bathroom units with an approximate unit size of 750 square-feet (+/-). All units have front/rear access and are identical footprints.
All units feature washer/dryer hookups, vinyl flooring, carpeted bedroom, ceiling fans, good closet space and individual mechanical rooms. Three of the four units have windows units for cooling while the other has central air. 3560 Lynn has excellent commuter accessibility to highways/interstates and nearby shops/restaurants (Noland). The building has a history of high occupancy (100% currently) with efficient 3rd party management in place. The asset presents an appeal to both the stabilized and value-add investor. Buyer could continue to manage property as-is with small incremental improvements or look to enhance finishes, install central air in the remaining 3 units, and provide laundry equipment in units to increase rents. The property does lie within a designated Opportunity Zone and the neighborhood (Harvest Village) has an active right of first refusal in place.

Last Agent to Sell the Property

Brice Bradshaw

Compass Realty Group Brokerage Phone: 913-219-7074 License #SP00219113 Listed on: 10/03/2024

Compass Realty Group

Co-Listed By

Parker Beck

Compass Realty Group Brokerage Phone: 913-219-7074 License #SP00238832

Last Buyer's Agent

Greg Brickhouse

Brickhouse Real Estate Service License #1999091022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,152

Year Built

  • Built in 1969

Lot Details

  • 0.3 Acre Lot

Home Design

  • Quadruplex
  • Composition Roof

Interior Spaces

  • 2-Story Property
  • Utility Room

Parking

  • 6 Parking Spaces
  • Off-Site Parking

Utilities

  • Window Unit Cooling System
  • Forced Air Heating and Cooling System
  • Separate Meters

Listing and Financial Details

  • Assessor Parcel Number 33-220-03-23-00-0-00-000
  • $0 special tax assessment

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • Harvest Village Subdivision

Building Details

  • Gross Income $34,043

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,152

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Year Built: 1969
  • Co List Office Mls Id: HMSCMLC
  • Co List Office Name: Compass Realty Group
  • Co List Office Phone: 816-280-2773
  • Internet Address Display: Yes
  • Internet Consumer Comment: No
  • List Agent Full Name: Brice Bradshaw
  • List Office Mls Id: HMSCMLC
  • List Office Name: Compass Realty Group
  • List Office Phone: 816-280-2773
  • Mls Status: Sold
  • Operating Expense: 21888
  • Age Description: 51-75 Years
  • Tax Special Amount: 0
  • Tax Total Amount: 3152
  • Value Range Pricing YN: 0
  • Maintenance Provided YN: 0
  • Special Documents Required YN: 0
  • Major Repair Costs: 0.00
  • Package: No
  • Attribution Contact: 913-219-7074
  • Special Features: None

Interior Features

  • Basement: No
  • Laundry Features: Utility Room
  • Stories: 2

Exterior Features

  • Roof: Composition
  • Construction Materials: Brick Veneer, Concrete

Garage/Parking

  • Garage: No
  • Parking Features: Off Site
  • Total Parking Spaces: 6

Utilities

  • Cooling: Electric, Window Unit(s)
  • Heating: Forced Air
  • Sewer: City/Public
  • Utilities: Ind Water Heaters, Separate Meters
  • Cooling: No
  • Water Source: Public

Condo/Co-op/Association

  • Association Fee Frequency: None
  • Type Of Management: Off-Site Mgmt

Association/Amenities

  • Association: No

Fee Information

  • Deposit: Security 1st

Schools

  • Junior High Dist: Independence

Lot Info

  • Zoning: R
  • Lot Size Area: 12937
  • Lot Size Sq Ft: 12937
  • Parcel Number: 33-220-03-23-00-0-00-000
  • Subdivision Name: Harvest Village
  • ResoLotSizeUnits: SquareFeet
  • In Flood Plain: No

Building Info

  • Number of Units Total: 4

Rental Info

  • Existing Lease Terms: One Year Lease

Multi Family

  • Gross Income: 34043
  • Current Occupancy Rate: Over 95%
  • Unit Count: 1

Tax Info

  • Tax Annual Amount: 3152
  • Tax Abatement YN: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 3, 2024
Closed on
Nov 25, 2024
Sold by
Perona John
Bought by
Lynn Street Llc
Seller's Agent
Brice Bradshaw
Compass Realty Group
Buyer's Agent
Greg Brickhouse
Brickhouse Real Estate Service
List Price
$399,000
Views
34
Current Estimated Value
$441,290

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.93%

Purchase Details

Closed on
Sep 6, 2022
Sold by
Maximillian Grust
Bought by
Lynn Street Llc

Purchase Details

Closed on
Jun 15, 2022
Sold by
Barhorst Christopher K and Barhorst Myla K
Bought by
Ruth Street Capital Llc

Purchase Details

Closed on
Oct 2, 2000
Sold by
Becerra Hector and Becerra Juanita F
Bought by
Barhorst Christopher

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$98,100
Interest Rate
7.99%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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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 Type Sale Price Title Company
Quit Claim Deed -- Security 1St Title
Warranty Deed -- Security Title
Quit Claim Deed -- Security 1St Title
Special Warranty Deed -- --
Special Warranty Deed -- None Listed On Document
Warranty Deed -- Assured Quality Title Compan
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $98,100 Purchase Money Mortgage
Closed $5,450 No Value Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/26/2024 11/26/24 Sold -- -- --
10/12/2024 10/12/24 Pending -- -- --
10/03/2024 10/03/24 For Sale $399,000 -- --
Source: Heartland MLS

Tax History Compared to Growth

Source: Public Records

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 $3,225 $44,225 $4,528 $39,697
2024 $3,152 $46,550 $6,059 $40,491
2023 $3,152 $46,550 $6,059 $40,491
2022 $2,470 $33,440 $2,852 $30,588
2021 $2,469 $33,440 $2,852 $30,588
2020 $2,223 $29,252 $2,852 $26,400
2019 $2,187 $29,252 $2,852 $26,400
2018 $1,994 $25,458 $2,482 $22,976
2017 $1,994 $25,458 $2,482 $22,976
2016 $1,963 $24,820 $3,040 $21,780
2014 $1,921 $24,820 $3,040 $21,780
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Heartland MLS

MLS Number: 2513467

Heartland MLS

APN: 33-220-03-23-00-0-00-000