Seller's Agent in 2024
Brice Bradshaw
Compass Realty Group
(913) 375-3850
1 in this area
28 Total Sales
503 Barnett Ave Kansas City, KS 66101
Riverview NeighborhoodEstimated Value: $522,338
6
Beds
2
Baths
--
Sq Ft
5,663
Sq Ft Lot
Highlights
- No HOA
- Wood Siding
- 4-minute walk to Saint John’s Park
- Forced Air Heating and Cooling System
About This Home
As of July 2024The Barnett mixed-used portfolio is a 3 building, 6 unit offering situated in the historic Strawberry Hill neighborhood in Downtown Kansas City, Kansas. KU Medical’s Strawberry Hill Campus anchors the north part of the neighborhoods making it one of the most popular pockets in the KCK submarket. All buildings are on one parcel, with four addresses and one master meter for water across all buildings. The lot includes 2 single-family rental houses built in 1930 (610 N. 5th Street & 509 Barnett Avenue) and one commercial mixed-use building built in 1916 (612 N. 5th Street & 503 Barnett Avenue). The commercial space serves as a neighborhood bar, Dewey’s (opened May 2024), while the west (rear) and upper-level offer 3 apartment/rental units. The lot provides 4 tandem spaces on the northwest side and street parking. The houses and bar are separately metered for gas and electric and the apartment units in the commercial building are all-electric units.
The rental unit mix is comprised of 5 two-bedroom/one-bathroom rentals with an approximate unit size of 800 square-feet (+/-). The single-family rentals feature central air, hardwood floors, fully equipped kitchens, washer/dryer hookups (basements) and vinyl windows. The rentals in the commercial building feature hardwoods, central air and/or mini-splits, good natural light and are all electric. The buildings are currently owner-operated and have Section 8/housing vouchers tenants occupying some units. The Barnett portfolio has excellent commuter accessibility to highways/interstates and Kansas City’s central commerce corridor. The asset presents an appeal to both the stabilized and value-add investor. Buyer could continue to manage properties as-is with small incremental improvements or look to rehab the single-family rentals/apartments increasing rents to market. A value-add project could also include splitting up the parcel and water metering to mitigate cost and individually sell off holdings.
Last Agent to Sell the Property
Compass Realty Group Brokerage Phone: 913-219-7074 License #SP00219113 Listed on: 06/03/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,474
Year Built
- Built in 1930
Lot Details
- 5,663
Home Design
- Brick Frame
- Stone Frame
- Composition Roof
- Wood Siding
Parking
- 4 Parking Spaces
- On-Street Parking
- Off-Street Parking
Utilities
- Forced Air Heating and Cooling System
- Master Gas Meter
- Master Water Meter
Additional Features
- 2-Story Property
- 5,663 Sq Ft Lot
- Basement
Listing and Financial Details
- Assessor Parcel Number 117600
- $0 special tax assessment
Community Details
Overview
- No Home Owners Association
- 6 Units
- Fowlers Add Subdivision
Building Details
- Gross Income $66,131
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 3, 2024
Closed on
Jul 23, 2024
Sold by
Real Estate Options Llc
Bought by
Chwc Land Trust
Seller's Agent
Brice Bradshaw
Compass Realty Group
Buyer's Agent
Jessica Zieg
LOCAL AGENT
List Price
$399,000
Views
51
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.75%
Original Mortgage
$430,950
Outstanding Balance
$428,038
Interest Rate
6.95%
Mortgage Type
New Conventional
Estimated Equity
$94,300
Purchase Details
Closed on
Oct 10, 2014
Sold by
Gardner Bank
Bought by
Real Estate Options Llc
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,300
Interest Rate
4.13%
Mortgage Type
Future Advance Clause Open End Mortgage
Purchase Details
Closed on
Jul 9, 2014
Sold by
City Vision Ministries Inc
Bought by
Gardner National Bank
Purchase Details
Closed on
Aug 1, 2007
Sold by
Schmelzle Michael F
Bought by
City Vision Ministries Inc
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 | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Chwc Land Trust | -- | Accurate Title | |
| Real Estate Options Llc | $117,000 | First American Title | |
| Gardner National Bank | -- | None Available | |
| City Vision Ministries Inc | -- | Benson Title Co Inc |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | Chwc Land Trust | $430,950 | |
| Previous Owner | Real Estate Options Llc | $722,500 | |
| Previous Owner | Real Estate Options Llc | $722,500 | |
| Previous Owner | Real Estate Options Llc | $105,300 | |
| Previous Owner | City Vision Ministries Inc | $183,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/29/2024 07/29/24 | Sold | -- | -- | -- |
| 06/11/2024 06/11/24 | Pending | -- | -- | -- |
| 06/03/2024 06/03/24 | For Sale | $399,000 | -- | -- |
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 | $8,343 | $54,826 | $4,720 | $50,106 |
| 2023 | $8,474 | $52,118 | $3,385 | $48,733 |
| 2022 | $6,885 | $42,152 | $3,337 | $38,815 |
| 2021 | $7,263 | $43,622 | $2,925 | $40,697 |
| 2020 | $6,300 | $37,876 | $2,925 | $34,951 |
| 2019 | $5,341 | $32,137 | $2,721 | $29,416 |
| 2018 | $5,063 | $30,647 | $2,815 | $27,832 |
| 2017 | $5,154 | $30,920 | $2,702 | $28,218 |
| 2016 | $4,792 | $28,487 | $2,947 | $25,540 |
| 2015 | $4,900 | $28,784 | $2,947 | $25,837 |
Source: Public Records
Agents Affiliated with this Home
-
Brice Bradshaw
-
Parker Beck
Seller Co-Listing Agent in 2024
Parker Beck
Compass Realty Group
(913) 375-3850
1 in this area
28 Total Sales
-
Jessica Zieg
J
Buyer's Agent in 2024
Jessica Zieg
LOCAL AGENT
(785) 640-4173
4 in this area
46 Total Sales
Map
Source: Heartland MLS
MLS Number: 2491976
APN: 117600
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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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