9715 35th S Ter, Unit B1 Independence, MO 64052-1194

Property Details for 9715 35th S Ter

Year built

1987

Construction

WOOD

Lot size

1.04 lot acres

Property size

1,404 SF

Property type

Garden apartment buildings

APN

32-210-05-27-03

APU

32210052703

Description

Hampton Court Apartments presents a compelling value-add investment opportunity in Independence, Missouri. This two-building, 43,210-square-foot apartment complex comprises 54 units, boasting a remarkable 96% occupancy rate and a strong 7.37% capitalization rate. Built in 1987, the property sits on a 1.78-acre lot and benefits from a strategic location near major highways (Highway 40 and Interstate 70), providing convenient access to downtown, industrial zones, and entertainment districts. The property's average unit size is 30% larger than comparable properties, allowing for significant rent growth potential. A proven rent gap of $150-$200 per unit exists, offering immediate upside. Further enhancing its appeal is a 5.22% fixed-rate assumable loan with approximately four years remaining, minimizing upfront capital requirements. The property's strong performance is underscored by its consistent occupancy exceeding 90% over the past year and its alignment with the growing demand for workforce housing. The surrounding neighborhood shows robust activity, with over 70 single-family homes selling in the past 36 months, ranging from $95,000 to $285,000. This property offers a blend of immediate cash flow and long-term value appreciation, making it an attractive investment for discerning buyers. The property's address is 9715 E 35th Ter, Independence, MO 64052. The asking price is $3,500,000, translating to $64,814 per unit and $81 per square foot. The Net Operating Income (NOI) is $270,320.

Location Insight

City

Independence

County

Jackson

State

Missouri

Longitude

-94.4647

Latitude

39.0574

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments