$1,400,000 Price Analysis    ♡   Sullivan, MO 63080 Unknown bed None bath 15,564 SqFt ($89/SqFt) 1.29 acre lot. Built 1968 Listed 2024-05-21, Taxes $8,032 | May be USDA loan restricted due to income limits near Sullivan |
H2208 - Sullivan's largest multi-family complex
* Sale Pending *The Garden Apartments, is finally on the market and looking for a new Owner. This 2 building complex houses 14 - 2 bedroom units (2 are currently being used for storage and are not rented or renovated) and 9 - 3 bedroom units. As per the attached pictures, many units have recently been extensively renovated. All units have newer Trane electric furnaces and central air as well as low E windows.
Both buildings have newer roofs, one of which is 4 years old. One unit is being temporarily kept from the rental pool to allow Investors to see a sample unit without disturbing tenants. Operational income and expense reports are available for qualified and serious potential buyers who are looking for a CAP rate approaching 8%, with the potential (based on area rental amounts) to be closer to 10%.
Presented by David F. Plant at
Coldwell Banker Reeves.
Property MLS #24013730 from MARIS
Heating Features: Forced Air
Heating Fuel: Electric
Water Heaters: Electric
Lot Size Dimensions: 129X379X166X375
Lot Size Source: County Records
Lot Size Square Feet: 56367
Calculated Total Monthly Association Fees: 0
High School: Sullivan Sr. High
Middle School: Sullivan Middle
School District: Sullivan
Map directions Map directions Map directions Map directionsTenant Pays: Cable TV/Satellite, Electric, Sewer, Water
Source Listing Status: Pending
County: Franklin
Tax Year: 2023
Ownership: Private
Source Property Type: Multi-Family 5+
Area: Sullivan C-2(Frnkl)
Source Neighborhood: Ross Add 02
Postal Code Plus 4: 1757
Property Location: City
Subdivision: Ross Add 02
Property Subtype: Apartment Complex
Source System Name: C2C
Coming Soon Date: 2024-03-15
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2021 | $127,131 + $10,632 $137,763 | $8,032 |
| 2020 | $110,550 + $10,632 $121,182 | $7,205 |
| 2019 | $110,550 + $10,632 $121,182 | $7,211 |
| 2018 | $110,550 + $10,632 $121,182 | $6,351 |
| 2017 | $94,763 + $10,632 $105,395 | $6,407 |
| 2016 | $89,684 + $10,632 $100,316 | $6,029 |
| 2015 | $84,964 + $10,632 $95,596 | $5,760 |
| 2014 | $84,964 + $10,632 $95,596 | $5,580 |
| 2013 | $unknown + $unknown $95,596 | $5,488 |
| 2012 | $unknown + $unknown $87,327 | $4,844 |
| 2010 | $unknown + $unknown $87,327 | $4,745 |
| 2009 | $unknown + $unknown $87,327 | $4,717 |
| 2008 | $unknown + $unknown $83,795 | $4,533 |
$1,400,000
MARIS
Listing removed 2005-02-22
$699,000
MARIS
Listed 2005-02-14
$699,000
MARIS
Listing removed 2004-10-19
$695,000
MARIS
Listed 2003-10-06
$695,000
MARIS
Sold 2002-01-25
$0
MARIS
Listed 2001-10-17
$350,000
MARIS
Year Built: 1968
Building Features: No Units Furnished, Restriction-Pets, Smoke/Alarm Detector
Construction Materials: Brick Veneer Predom
Living Area Source: County Records
Property Age: 56
Total Above Grade Sqft Area: 15564
Architectural Style: Low/1-2
Restriction-Pets
Smoke/Alarm Detector
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.