NOT LISTED FOR SALE

401 S State St Drexel, MO 64742

-- Bed
-- Bath
-- Sq Ft
0.47 Acres

Last Sold September 06, 2023

39 Days on Market

Highlights

  • No HOA
  • Utility Room
  • Paved or Partially Paved Lot
  • Central Air

About This Home

As of September 2023

Introducing a fantastic investment opportunity in the heart of Drexel, Missouri! A remarkable 4plex that combines convenience, charm, and the potential for lucrative returns. This property is perfectly suited for investors looking to capitalize on the growing demand for rental properties in this desirable location. Situated on a prime corner lot, this 4plex showcases an attractive exterior that invites tenants to explore what lies within. Each unit offers 2 bedrooms and 1 bath. The location on State St ensures excellent visibility and accessibility, making it highly desirable for potential tenants. Each unit boasts large windows that fill the rooms with abundant natural light, creating a bright and welcoming ambiance throughout. Tenants will appreciate the convenience of in-unit laundry facilities. The town's proximity to major highways allows for easy travel to nearby cities, ensuring convenience for tenants who work or study in the surrounding areas. Outside, the property offers ample parking spaces, ensuring convenience for both residents and visitors. The expansive lot provides potential for further development (another 4plex or storage units would be ideal to add more income/value) or outdoor amenities, such as a patio or green space, adding value to the property and enhancing its appeal. Whether you are an experienced investor or new to the real estate market, this 4plex offers the potential for attractive rental income and long-term appreciation. Schedule a showing today and seize the chance to secure a promising investment in a thriving community!

Last Agent to Sell the Property

JoLynn Tarantino

ReeceNichols - Overland Park License #SP00230429 Listed on: 06/02/2023

ReeceNichols - Overland Park

Last Buyer's Agent

Jan Sullivan

Platinum Realty LLC License #SP00232460

Platinum Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,022

Year Built

  • Built in 1998

Lot Details

  • 0.47 Acre Lot
  • Paved or Partially Paved Lot

Home Design

  • Quadruplex
  • Frame Construction
  • Composition Roof

Interior Spaces

  • 2-Story Property
  • Utility Room
  • Laundry in Basement
  • Built-In Electric Oven

Parking

  • 8 Parking Spaces
  • Off-Street Parking

Utilities

  • Central Air
  • Separate Meters

Listing and Financial Details

  • Assessor Parcel Number 05-03.0-06-020-005-004.000
  • $0 special tax assessment

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Gross Income $40,481

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,022

Year Built

Built in 1998

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadruplex
  • Year Built: 1998
  • Internet Address Display: Yes
  • Internet Consumer Comment: No
  • List Agent Full Name: JoLynn Tarantino
  • List Office Mls Id: HMSRAN_03
  • List Office Name: ReeceNichols - Overland Park
  • List Office Phone: 913-339-6800
  • Mls Status: Sold
  • Operating Expense: 4707
  • Age Description: 21-30 Years
  • Tax Special Amount: 0
  • Tax Total Amount: 2022
  • Value Range Pricing YN: 0
  • Maintenance Provided YN: 0
  • Special Documents Required YN: 0
  • Major Repair Costs: 0.00
  • Package: No
  • Special Features: None

Interior Features

  • Appliances: Refrigerator, Built-In Electric Oven
  • Basement: No
  • Laundry Features: In Basement, Utility Room
  • Stories: 2

Exterior Features

  • Roof: Composition
  • Construction Materials: Frame
  • Road Surface Type: Paved

Garage/Parking

  • Garage: No
  • Parking Features: Off Street
  • Total Parking Spaces: 8

Utilities

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

Condo/Co-op/Association

  • Association Fee Frequency: None
  • Type Of Management: Owner Manager

Association/Amenities

  • Association: No

Fee Information

  • Deposit: Kansas City Title

Schools

  • Junior High Dist: Drexel

Lot Info

  • Zoning: HI
  • Lot Size Area: 20400
  • Lot Size Sq Ft: 20400
  • Parcel Number: 05-03.0-06-020-005-004.000
  • Subdivision Name: Other
  • 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: 40481
  • Current Occupancy Rate: Over 95%
  • Unit Count: 1

Tax Info

  • Tax Annual Amount: 2022
  • Tax Abatement YN: 0

Range of Values:

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Average Value
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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

Property History

Date Event Price Change Sq Ft Price
09/06/2023 09/06/23 Sold -- -- --
07/12/2023 07/12/23 Pending -- -- --
06/12/2023 06/12/23 Price Changed $329,000 -6.0% --
06/02/2023 06/02/23 For Sale $349,950 +9.4% --
09/29/2022 09/29/22 Sold -- -- --
08/20/2022 08/20/22 Pending -- -- --
08/14/2022 08/14/22 For Sale $320,000 +68.5% --
05/14/2021 05/14/21 Sold -- -- --
03/05/2021 03/05/21 Price Changed $189,900 -5.0% --
01/11/2021 01/11/21 For Sale $199,999 -- --
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: 2437744

Heartland MLS