904 Short St Lathrop, MO 64465

Property Details for 904 Short St

Year built

1998

Property size

9,546 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a 10-unit apartment portfolio situated in Lathrop, Missouri, a thriving town conveniently located north of Kansas City. The portfolio comprises four buildings – three duplexes and one fourplex – totaling 9,546 square feet on two legal parcels. All ten units are two-bedroom apartments, built between 1997 and 2000, boasting modern layouts and finishes. Each unit includes an in-unit washer and dryer, adding significant appeal to renters. Attached garages are featured in the duplexes, while the fourplex offers convenient on-site parking. Currently operating at 100% occupancy, this portfolio offers immediate cash flow potential. The property's sub-metered utilities contribute to efficient management. The asking price is $985,000, translating to $98,500 per unit and $103.18 per square foot. This represents a compelling value proposition, particularly considering the below-replacement-cost pricing and the potential for increased rental income as leases expire and units are brought up to market rent. While smaller markets can present challenges in finding reliable property management, the current owner has established a strong relationship with a capable property manager who is willing to continue working with the new owner. This portfolio offers a blend of stability and growth potential in a desirable location. The addresses included are: 800-02 Wolf Dr, 804-06 Wolf Dr, 805-07 Wolf Dr, and 904 Short St, all in Lathrop, MO 64465.

Location Insight

City

Lathrop

County

Clinton

State

Missouri

Longitude

-94.338333668337

Latitude

39.544047627855