Current Tenant Rate: $850-$925/month
Should be : $1,300-$1,400/month
This property overall is in good condition, does need updated fixtures, but the income potential is AMAZING!!
1424 E Mart-Way Cir, Olathe, KS 66061 (6 Plex)
17546 W 111th Pl Olathe, KS 66061 (Duplex)
547 E Spruce St. Olathe, KS 66061 (4 Plex)
1336 N Martway Dr. Olathe, KS 66061 (Duplex)
Cap rate sits at 7.2% after adjusting for an avg 10% vacancy rate & increased rent to $1,250/unit at a $580k purchase price.
Operating expenses: $13,234
📅 Tenants currently paying month to month.
Property is currently on MLS - We are under contract! We completely intend to close ourselves as we also own several multi-unit buildings... However, wanted to give our investor community an opportunity to own this asset as well.