920 Countryside Ln, Oswego, KS
14.51% return
SP:
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Property Description

SWEET DEAL!! 16 unit complex in Kansas! 

8 x 2bed/1bath and 8 x 1bed/1bath units. 50% occupied. Vacant units need minor cosmetics to be brought up to leasable standards. Separate electric meters, on-site laundry to generate additional income, office, and nice playground. Less than 2 hours from Tulsa. Tons of rental demand, no available rentals in the area! Property has the potential to generate a 14.51% NET RETURN and gross $96k A YEAR once rehab is completed!! This is an opportunity that won't last in this market! 

Management already in place! Financing available!!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units16
  • Total bedrooms24
  • Total bathrooms16
  • Building size10578 sq. ft.
  • Lot size1.5 acres
  • Year built1986
  • CountyLabette County
  • Subdivision
  • ConstructionBrick
  • RoofAsphalt Shingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral Heat
  • CoolingCentral air

Property Financial Summary

  • Sale price $375,000
  • Estimated rehab 1 $100,000
  • Total investment $475,000
  • Type Proforma
  • Gross income (annually) $96,000
  • Operating expenses (annually) $27,057
  • Net income (annually) $68,943
  • Gross return 20.21%
  • Gross income (monthly) $8,000
  • Operating expenses (monthly) $2,255
  • Net income (monthly) $5,745
  • Net return 14.51%

Property Income & Expenses

  • Income
  • Laundry Income $400/month $4,800/year
  • Building 1
  • Unit 1: 2 bed / 1 bath $500/month $6,000/year
  • Unit 2: 2 bed / 1 bath $500/month $6,000/year
  • Unit 3: 2 bed / 1 bath $500/month $6,000/year
  • Unit 4: 2 bed / 1 bath $500/month $6,000/year
  • Building 2
  • Unit 5: 2 bed / 1 bath $500/month $6,000/year
  • Unit 6: 2 bed / 1 bath $500/month $6,000/year
  • Unit 7: 2 bed / 1 bath $500/month $6,000/year
  • Unit 8: 2 bed / 1 bath $500/month $6,000/year
  • Building 3
  • Unit 9: 1 bed / 1 bath $450/month $5,400/year
  • Unit 10: 1 bed / 1 bath $450/month $5,400/year
  • Unit 11: 1 bed / 1 bath $450/month $5,400/year
  • Unit 12: 1 bed / 1 bath $450/month $5,400/year
  • Unit 13: 1 bed / 1 bath $450/month $5,400/year
  • Unit 14: 1 bed / 1 bath $450/month $5,400/year
  • Unit 15: 1 bed / 1 bath $450/month $5,400/year
  • Unit 16: 1 bed / 1 bath $450/month $5,400/year
  • Total $8,000/month $96,000/year
  • Expenses
  • Property Taxes $342/month $4,105/year
  • Property Management $600/month $7,200/year
  • Maintenance reserve $250/month $3,000/year
  • Lawn care $33/month $400/year
  • Electric bill $164/month $1,968/year
  • Water, Sewer and Waste $574/month $6,888/year
  • Phone $83/month $996/year
  • Insurance (estimated) $208/month $2,500/year
  • Total $2,255/month $27,057/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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