Maple Manor Apartments

For Sale

1409 W maple Ave, Independence, MO 64050

This Independence property for sale is located at 1409 W maple Ave. The current listed sale price for Maple Manor Apartments is $2,800,000.

Contacts

broker

Sterling H. Scott

SVN | Encompass Commercial

(816) 436-4600

Property Details

  • Property Type Multi-Family
  • Property Size 38,490 SF
  • Units 40
  • Year Built 1969
  • Year Renovated 2023
  • Date Updated Apr 10, 2024
Located in a great submarket with a high demand for affordable housing.Maple Manor apartments is a four building, 40 unit, low-rise apartment complex that has been well maintained and boasts 95% occupancy. This property is located in a great submarket that has a high demand for the affordable housing these units provide and have shown strength through continued rent increases. Significant improvements have been completed throughout the last one to five years including new roofs and siding, landscaping, and parking lot repairs. A majority of units have been renovated over the past year with new paint, flooring, countertops, bathrooms, and appliances. The next owner will benefit from reduced Capital Expenses. 17 units are dedicated to HAP so future management's ability to work with HUD compliance is a MUST. Having these 17 units dedicated is a huge benefit for the owners as you have the ability to give out the vouchers if someone has not yet received one. Current owners have recently signed a 5 year extension and completed a Rent Comp Study to increase all HAP rents (800, 900, 1000). On top of the 17 HAP units, a majority of tenants have Vouchers (80%). These vouchers provide guaranteed income every month so you can worry less about tenants missing rent. HUGE upside potential if you can increase the vouchers to HUDS FMR of $1,002, $1,164, $1,530.

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Reach out to the broker for more info on lease terms and amenities

Highlights

  • - Great location near Downtown Independence
  • - Day one cash flow with upside through continued operational efficiencies
  • - Onsite Parking and Onsite Laundry
  • - Affordable housing is in HIGH demand

Getting around

  • 53/100

    Walk Score ®

  • 32/100

    Transit Score ®

  • 30/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Independence, MO
  • Neighborhood Procter
  • Zip Code 64050
  • Market Kansas City

Points of Interest

  • Independence

    0.44 miles

  • Worlds of Fun Railroad Station

    6.32 miles

  • 22nd at Vine

    7.02 miles

  • Train and Tram Station

    7.88 miles

  • City Market

    8.04 miles

  • River Market North

    8.05 miles

  • Power and Light

    8.05 miles

  • Kauffman Center

    8.05 miles

  • Metro Center

    8.05 miles

  • Metro Center

    8.06 miles

  • Sinclair

    1.11 miles

  • Phillips 66

    1.14 miles

  • Casey's General Store

    2.10 miles

  • Hy-Vee Gas

    2.35 miles

  • QuikTrip Gas & Convenience Store

    2.81 miles

  • Conoco

    2.92 miles

  • QuikTrip

    3.01 miles

  • QuikTrip

    3.10 miles

  • Shell

    3.11 miles

  • QuikTrip

    3.14 miles

  • H

    0.28 miles

  • J

    0.32 miles

  • K

    0.32 miles

  • L

    0.33 miles

  • M

    0.39 miles

  • N

    0.42 miles

  • E

    0.45 miles

  • A

    0.46 miles

  • F

    0.48 miles

  • B

    0.49 miles

  • Higher Ground Hotel

    0.50 miles

  • Serendipity Bed & Breakfast

    0.63 miles

  • Ophelia's Restaurant & Inn

    0.97 miles

  • Deluxe Inn

    3.00 miles

  • Bluebird Motel

    3.08 miles

  • Super 8 by Wyndham Independence Kansas City

    3.24 miles

  • Truman Inn

    3.27 miles

  • Days Inn

    3.38 miles

  • Red Lion Inn & Suites

    3.43 miles

  • Adam's Mark Hotel & Conference Center at the Sports Stadium Complex

    3.48 miles

  • Price Chopper

    1.08 miles

  • Hy-Vee

    2.39 miles

  • Walmart Neighborhood Market

    2.60 miles

  • ALDI

    2.65 miles

  • Price Chopper

    2.93 miles

  • Burlington

    3.23 miles

  • Walmart Supercenter

    3.33 miles

  • Big Lots

    3.57 miles

  • Price Chopper

    3.60 miles

  • Hong Kong Supermarket

    3.91 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Sterling H. Scott

SVN | Encompass Commercial

(816) 436-4600