9715 35Th TerIndependence, MO 64052

Property Details for 9715 35Th Ter

Year built

1987

Construction

WOOD

Lot size

1.04 AC

Property size (Sq ft)

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

Latitude

39.0574

Longitude

-94.4647

CBSA code

28140

CBSA name

KANSAS CITY, MO-KS METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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