Four-Unit Multifamily
For Sale
$770,000
605-607 NE Lynn St, Lees Summit, MO 64063
Two duplex buildings provide occupied residential units in a consistent configuration.
Property Size5,736 SF
Days on Market54
Property Features for 605-607 NE Lynn St
General Information
Standard status
Active
Size
5,736 SF
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Asking Price
$770,000
Building Details
Building Size
5,736 SF
Year Built
1966
Buildings
2
Listed By:
Isaac Holtz
(319) 480-9007
Source:
Clemonsrealestate
Added: Sep 6
Changed: Oct 25
Last Checked: Oct 28 at 6:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Isaac Holtz
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Investment Insights
Based on property information with market context.
This multifamily property comprises two duplex buildings with four occupied units in total. Each residence offers two bedrooms and one-and-a-half baths, creating a consistent layout across the property. The buildings were constructed in 1966.
The property is located at 605-607 NE Lynn Street in Lee's Summit, Missouri. Its four-unit configuration provides a compact multifamily holding with established occupancy and uniform residential layouts.
The property is located at 605-607 NE Lynn Street in Lee's Summit, Missouri. Its four-unit configuration provides a compact multifamily holding with established occupancy and uniform residential layouts.
Key Highlights
- Four occupied multifamily units across two duplex buildings
- Each unit includes 2 bedrooms and 1.5 baths
- Constructed in 1966
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,469
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,380
$1.2M
Cap Rate 7%
$878,129
$878.1K
Cap Rate 9%
$682,989
$683.0K
Market Conditions
NOI Build-Up for 5,736 SF
Gross rent
$92.9K $16.20/SF
− Vacancy
−$5.1K −$0.89/SF
EGI
$87.8K $15.31/SF
− OpEx
−$26.3K −$4.59/SF
NOI
$61.5K $10.72/SF
Area
Lees Summit, MO
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,229,380
Cap Rate 7%
$878,129
Cap Rate 9%
$682,989
Alternative Uses
Best Use
Multifamily LT 5
$878.1K
$768.4K – $1.02M
NOI $61,469 @ 7.0% cap · market cap 7.98%
Second Best
Apartment 5plus
$784.4K
$686.4K – $915.2K
NOI $54,910 @ 7.0% cap · market cap 7.13%
Theoretical Best
Specialty Retail
$1.46M
$1.27M – $1.70M
NOI $101,906 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 64063, MO
20,965
Population
9,104
Households
2.3
Avg Household Size
36
Median Age
34%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
3,437
Density / Sq Mi
$77,966
Median Household Income
$47,877
Median Earnings
$1,151
Median Rent
$242,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two duplex buildings provide occupied residential units in a consistent configuration.
Where is this multifamily property located?
The property is located at 605-607 NE Lynn St Lees Summit, MO.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Four occupied multifamily units across two duplex buildings; Each unit includes 2 bedrooms and 1.5 baths; Constructed in 1966
