3560 South Lynn Street

Independence, MO 64055

$399,000
Price
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Description

3560 S. Lynn Street is a 4-unit, brick exterior building located at the end of a quiet cul-de-sac in Independence, Missouri. Built in 1969, the property dwells in a neighborhood of rental properties and provides tenants 6 off-street parking spaces at the rear of the building. The Lynn property stands 2-stories on a slab with a pitched composition shingle roof on over a quarter acre lot. The building is separately metered for gas, electric and water (tenants responsible for all utilities + trash)...3560 S. Lynn Street is a 4-unit, brick exterior building located at the end of a quiet cul-de-sac in Independence, Missouri. Built in 1969, the property dwells in a neighborhood of rental properties and provides tenants 6 off-street parking spaces at the rear of the building. The Lynn property stands 2-stories on a slab with a pitched composition shingle roof on over a quarter acre lot. The building is separately metered for gas, electric and water (tenants responsible for all utilities + trash) and the building has completed significant renovations over the last two years. These capital improvements are highlighted by the new roof, new deck/stairs, new HVAC, new furnace and unit make-readies/renovations (3 of 4 units). All units at the property are two-bedroom, one-bathroom units with an approximate unit size of 750 square-feet (+/-). All units have front/rear access and are identical footprints.
All units feature washer/dryer hookups, vinyl flooring, carpeted bedroom, ceiling fans, good closet space and individual mechanical rooms. Three of the four units have windows units for cooling while the other has central air. 3560 Lynn has excellent commuter accessibility to highways/interstates and nearby shops/restaurants (Noland). The building has a history of high occupancy (100% currently) with efficient 3rd party management in place. The asset presents an appeal to both the stabilized and value-add investor. Buyer could continue to manage property as-is with small incremental improvements or look to enhance finishes, install central air in the remaining 3 units, and provide laundry equipment in units to increase rents. The property does lie within a designated Opportunity Zone and the neighborhood (Harvest Village) has an active right of first refusal in place.

Listing Agents

  1. Brice Bradshaw

    Brice Bradshaw

    Listing Agent

    Compass

  2. Parker Beck

    Parker Beck

    Alternative Listing Agent

    Compass

    parker.beck@compass.com

    P: (913)-375-3850

Property Details for 3560 South Lynn Street

Zoning
R
LISTING UPDATED: 10/12/2024 07:13 AM

Property Details for 3560 South Lynn Street

StatusPending
MLS #2513467
Days on Market9
Taxes$3,152 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1969
Lot Size0.30 AC / 12,937 SF
CountyJackson County

Building Information for 3560 South Lynn Street

Stories2Residences4Year Built1969Building Size-Lot Size0.30 AC / 12,937 SF

Property Information for 3560 South Lynn Street

Summary
Location and General Information
  • City: Independence
  • County Or Parish: Jackson
  • Directions: From Noland Rd go West on E 35th Street south Turn left on S Lynn Street. Fourplex is on the end of the cul-de-sac.
  • Latitude: 39.054331
  • Longitude: -94.418881
  • MLS Area Major: 206 - Independence Area
  • Zip Code: 64055
  • State Or Province: MO
  • Subdivision: Harvest Village
Taxes and HOA Information
  • Association Fee: $.00
  • Association Fee Frequency: None
  • Association: No
  • Tax Abatement YN: No
  • Tax Special Amount: 0
  • Tax Annual Amount: $3,152.00
  • Parcel Number: 33-220-03-23-00-0-00-000
  • Tax Annual Amount: $3,152.00
School Information
  • High School District: Independence
Parking
  • Garage: No
  • Parking Features: Off Site
  • Parking Total: 6.0
Property
Lot Information
  • Lot Size Area: 12,937.00
  • Lot Size Source: Public Records
  • Lot Size SqFt: 12,937.00
  • Lot Size Units: Square Feet
Property and Assessments
  • Construction Materials: Brick Veneer, Concrete
  • Documents Available: Financial Details, Lease Agreements
  • Documents Count: 3
  • Age Description: 51-75 Years
  • FEMA 100 Yr Flood Plain: No
  • Legal Description: HARVEST VILLAGE LOT 12
  • Special Documents Required YN: 0
  • Type Of Management: Off-Site Mgmt
  • Listing Agreement: Exclusive Right To Sell
  • Photos Count: 17
  • Year Built: 1969
Utilities
  • Sewer: City/Public
  • Utilities: Ind Water Heaters, Separate Meters
  • Water Source: Public
Interior and Exterior Features
Exterior Features
  • Package: No
  • Laundry Features: Utility Room
  • Roof: Composition
Interior Features
  • Basement YN: No
  • Bathrooms Total: 0
  • Unit Type: 2 Bedroom
  • Cooling: Electric, Window Unit(s)
  • Central Air YN: No
  • Heating: Forced Air
  • Stories Total: 2
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
Income & Expenses
  • Gross Income: $34,043.00
  • Maintenance Provided YN: No
  • Operating Expense: $21,888.00
  • Operating Expense Includes: Accounting, Advertising, Exterminator, Legal, Maintenance, Insurance, Property Mgmt, Real Estate Tax, Refuse Collection, Supplies
Unit 1
  • Unit Type: Unit SQFT: 750
  • Unit Type: Baths Total: 1
  • Unit Type: Type: 2 Bedroom
  • Unit Type: Units Total: 4
Rental
Rent Information
  • Current Occupancy Rate: Over 95%
  • Deposit: Security 1st
  • Existing Lease Terms: One Year Lease

Property History for 3560 South Lynn Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 3560 South Lynn Street

This home is within Independence 30 School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
John W. Luff Elementary School
PublicPK to 5

Bridger Middle School
Public6

Pioneer Ridge Middle School
Public7 to 8

Truman High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Based on information from one of the following Multiple Listing Services: Heartland MLS, South Central Kansas MLS, Sunflower Association of REALTORS, Lawrence Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Heartland MLS, South Central Kansas MLS, Sunflower Association of REALTORS , Lawrence Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.