448 NE Churchill Street, Lees Summit, MO 64086

Property Description

Rarely does a fourplex come along with this combination of location, size, condition, and tenant appeal. Fully occupied, built in the 1980s, and Class A located in beautiful Lees Summit, this property offers a unique opportunity to own quality small multifamily in one of the Kansas City metros most desirable suburban markets. The building features two oversized 3-bedroom, 1.5-bath units of approximately 1,400 square feet and two spacious 2-bedroom, 1.5-bath units of approximately 1,250 square feet. Each unit has its own private exterior entrance, garage with opener, washer/dryer hookups, central heating and cooling, stainless steel appliances, and private rear patio. Interiors have been updated with LVP flooring, tile, modern colors, vanities, and countertops, while the primary bedrooms feature vaulted ceilings and walk-in closets. The residential setting, private entrances, individual garages, and private rear patios give tenants a sense of ownership that is hard to replicate in a typical apartment property. Tenants pay their own water/sewer, electric, gas, and trash, there is no HOA, and regular owner expenses are minimal. Current rents are estimated to be approximately $100?$300 below market depending on leasing strategy, providing additional upside for the next owner. Located in the highly regarded Lees Summit School District and just minutes from shopping, restaurants, parks, lakes, Highway 50, and Highway 291, this is a rare chance to acquire a stabilized fourplex in an outstanding suburban location.