Seller's Agent in 2025
Michelle Lutz
Lutz Sales + Investments
(888) 220-0988
1 in this area
203 Total Sales
Last list price
3930 N Cherry St Kansas City, MO 64116
River View Neighborhood
--
Bed
--
Bath
--
Sq Ft
1.97
Acres
Highlights
- 85,813 Sq Ft lot
- No HOA
- Wood Siding
- North Kansas City High School Rated A-
- Forced Air Heating System
About This Home
As of June 2025Welcome to the Cherry Street Apartments, located in the thriving Northland with easy access to all of Kansas City. This property offers 1983 construction and all electric buildings with efficient studio units. The property is three buildings on one two acre parcel with 33 units in use with the 34 th unit converted to a coin operated laundry room. There is ample on site parking with a large dedicated parking lot and a park-like atmosphere.
Cherry Street Studios is under a five minute walk to the North Oak Bus Stop along North Oak Trafficway, a major thoroughfare. Additionally, it is a short drive to the new KCI Airport and close to restaurants, shopping, and retail. This property has experienced consistently high occupancy over the years as a clean, affordable choice for low-cost living. This property is ideal for residents seeking both convenience and community. The low price per door makes this property very attractive to investors seeking consistent high returns in the booming Northland Kansas City submarket.
Last Agent to Sell the Property
Lutz Sales + Investments Brokerage Phone: 913-426-5576 License #SP00239672 Listed on: 02/12/2025
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $15,234
Year Built
- Built in 1983
Home Design
- Composition Roof
- Wood Siding
Parking
- 50 Parking Spaces
- Paved Parking
- Off-Street Parking
Utilities
- No Cooling
- Forced Air Heating System
Additional Features
- 2-Story Property
- 1.97 Acre Lot
Listing and Financial Details
- Assessor Parcel Number 17-314-00-01-045.00
- $0 special tax assessment
Community Details
Overview
- No Home Owners Association
- 33 Units
Building Details
- Gross Income $250,088
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 12, 2025
Closed on
Jun 27, 2025
Sold by
Op 3 Llc
Bought by
3930 Cherry St Llc
Seller's Agent
Michelle Lutz
Lutz Sales + Investments
Buyer's Agent
Lee Ripma
Lutz Sales + Investments
List Price
$2,375,000
Sold Price
$2,050,000
Premium/Discount to List
-$325,000
-13.68%
Views
41
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-100.00%
Original Mortgage
$1,879,125
Outstanding Balance
$1,879,125
Interest Rate
6.81%
Mortgage Type
New Conventional
Estimated Equity
-$1,172,419
Purchase Details
Closed on
Feb 29, 2024
Sold by
Cherry Street Studios Llc
Bought by
Op 3 Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,170,000
Interest Rate
6.6%
Mortgage Type
New Conventional
Purchase Details
Closed on
Sep 22, 2017
Sold by
Palmer & Cooper Enterprises Llc
Bought by
Cherry Street Studios Llc
Purchase Details
Closed on
Dec 30, 2002
Sold by
Palmer Jerry L and Palmer Marilyn C
Bought by
Palmer & Cooper Enterprises Llc
Purchase Details
Closed on
May 31, 2002
Sold by
Cherry Street Apartments Llc
Bought by
Palmer Jerry L and Palmer Marilyn C
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$598,000
Interest Rate
6.92%
Mortgage Type
Commercial
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 | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | -- | Chicago Title | |
| Warranty Deed | -- | Chicago Title | |
| Warranty Deed | -- | Stewart Title | |
| Warranty Deed | -- | Stewart Title | |
| Warranty Deed | -- | -- | |
| Warranty Deed | -- | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,879,125 | New Conventional | |
| Previous Owner | $1,170,000 | New Conventional | |
| Previous Owner | $538,096 | Unknown | |
| Previous Owner | $598,000 | Commercial |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/27/2025 06/27/25 | Sold | -- | -- | -- |
| 04/01/2025 04/01/25 | Pending | -- | -- | -- |
| 03/27/2025 03/27/25 | Price Changed | $2,250,000 | -1.7% | -- |
| 03/05/2025 03/05/25 | Price Changed | $2,290,000 | -3.6% | -- |
| 02/12/2025 02/12/25 | For Sale | $2,375,000 | -- | -- |
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 | $15,234 | $189,110 | -- | -- |
| 2023 | $15,100 | $251,810 | $0 | $0 |
| 2022 | $11,207 | $134,140 | $0 | $0 |
| 2021 | $11,220 | $134,140 | $48,640 | $85,500 |
| 2020 | $11,435 | $126,450 | $0 | $0 |
| 2019 | $11,222 | $212,973 | $34,848 | $178,125 |
| 2018 | $11,781 | $126,840 | $0 | $0 |
| 2017 | $11,567 | $126,840 | $20,690 | $106,150 |
| 2016 | $11,567 | $126,840 | $20,690 | $106,150 |
| 2015 | $11,562 | $126,840 | $20,690 | $106,150 |
| 2014 | $11,737 | $126,840 | $20,690 | $106,150 |
Source: Public Records
Agents Affiliated with this Home
-
Michelle Lutz
-
Lee Ripma
Buyer's Agent in 2025
Lee Ripma
Lutz Sales + Investments
(619) 508-3803
1 in this area
83 Total Sales
Map
Source: Heartland MLS
MLS Number: 2525172
APN: 17-314-00-01-045.00
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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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