7402 Overton AVE, Raytown, MO 64133
7402 Overton AVE, Raytown, MO 64133
7402 Overton AVE, Raytown, MO 64133
7402 Overton AVE, Raytown, MO 64133
7402 Overton AVE, Raytown, MO 64133
7402 Overton AVE, Raytown, MO 64133
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D.J. Merrill

D.J. Merrill

+1(816) 807-8797
Listed by Nicholas Ambrosio • Peak Real Estate Partners, LLC
$ 2,950,000
Est. payment | /mo

1.56 Acres Lot

Save
$ 2,950,000
Est. payment | /mo
Save

1.56 Acres Lot

Key Details

Property Type Single Family Home, Condo

Sub Type Apartment

Listing Status Pending

Purchase Type For Sale

Subdivision Park Farm

MLS Listing ID 2622533

Year Built 1965

Annual Tax Amount $24,922

Lot Size 1.560 Acres

Acres 1.56

Property Sub-Type Apartment

Source hmls

Property Description

The Overton Apartments is a 40-unit apartment complex located in Raytown, MO. The property is strategically located right off 350 Highway, giving tenants easy access to both 435 and 470 Highways, making it a strong fit for workforce housing. The current ownership group has owned and managed the property for roughly 15 years and have passionately taken care of the property throughout their duration of ownership. 14 furnaces and 14 HVAC's systems have been replaced since 2019, with the majority being replaced in the last 3 years. One roof was replaced in 2017, two roofs were replaced in 2021 and the final roof was replaced in 2022. The current owner has two voucher tenants, five mid-term rental tenants, while the rest are market rate tenants. The units have received renovations sporadically throughout ownership, but majority leave value add potential for the next owner. The large spacious units, combined with the exposed brick and balconies, allow for a premium to be achieved in the market, as well as winning tenants in general. There is also room to add an additional two units in each basement, but this would remove the laundry facilities from the property.

Location

State MO

County Jackson

Zoning R2.5

Interior

Heating Forced Air

Cooling Electric

Fireplace N

Exterior

Parking Features false

Utilities Available Cent Water Heater, Separate Meters

Roof Type Synthetic

Building

Story 3

Sewer Unknown

Water City/Public - Verify

Structure Type Brick/Mortar

Schools

School District Raytown

Others

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Heartland MLS KS / Southeast Kansas AOR
D.J. Merrill

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(816) 807-8797

dj@movekchomes.com

9593 N McGee St, Kansas City, MO 64155, USA

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7402 Overton AVE