11316 Lewis Avenue, Kansas City, MO 64134

Property Description

INVESTMENT OPPORTUNITY: 11316 Lewis Ave offers the ease of stepping directly into an established, income-producing rental without the renovation and stabilization work that often comes with an investment purchase. This 4-bedroom, 2-bath, 1,272 sq. ft. home is currently tenant-occupied at $1,950 per month and has been thoughtfully updated and well-maintained with LVP flooring, quartz countertops, stainless steel appliances and updated bathrooms. For investors looking to add more than one quality property to their portfolio, 11316 Lewis Ave may also be purchased as an optional two-property package with 6905 E 112th St. 6905 is a 3-bedroom, 1-bath home with a 1-car garage, also tenant-occupied and currently renting for $1,550 per month. Together, the two properties generate $3,500 in monthly rent and $42,000 in annual gross rental income. Offered together at $375,000, the package has an estimated stabilized NOI of $28,243 and estimated 7.53% cap rate, based on 5% vacancy, 10% property management, 8% maintenance reserve, actual property taxes and insurance. 6905 E 112th St (MLS #2640896) and 11316 Lewis Ave (MLS #2640900) are offered together for $375,000. Also available as Multifamily package (MLS #2640901). The properties can be purchased separately or together. Please do not disturb tenants.