Maple Manor Apartments Listing Details & Market Data

1409 W maple Ave, Independence, MO 64050

  • For Sale $2,800,000
  • 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.

Want more info on this listing?

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

Contacts

broker

Sterling H. Scott

SVN | Encompass Commercial

(816) 436-4600

Location

Getting Around

  • Walk Score ®

    Somewhat Walkable (53)

  • Transit Score ®

    Some Transit (32)

  • Bike Score ®

    Somewhat Bikeable (30)
Powered by Walk Score ®
  • 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

  • La Plaza

    0.85 miles

  • Square Pizza

    0.85 miles

  • Up Dog

    0.87 miles

  • Mugs Up Diner

    0.88 miles

  • Little Caesars

    0.88 miles

  • Subway

    0.91 miles

  • Courthouse Exchange

    0.92 miles

  • Burger King

    0.92 miles

  • El Pico

    0.93 miles

  • Rheinland Restaurant

    0.94 miles

  • Graceland University

    0.07 miles

  • Columbian School

    0.27 miles

  • Bryant Elementary School

    0.53 miles

  • Procter Elementary School

    0.59 miles

  • Carlisle School

    1.01 miles

  • Alton School

    1.01 miles

  • Independence Academy

    1.02 miles

  • Central State College

    1.08 miles

  • Santa Fe Trail Elementary School

    1.08 miles

  • Oldham School

    1.31 miles

  • Hanthorn Early Education

    2.43 miles

  • Cotton Candy Daycare Center

    5.77 miles

  • Children's Choice

    5.95 miles

  • Downtown Day Care

    6.56 miles

  • Alphabet Academy Child Care

    7.27 miles

  • Inspire Early Education Center

    7.38 miles

  • Lakewood Kindercare

    7.38 miles

  • Sonshine Day Care Center

    7.67 miles

  • Golden Oaks Education Center

    8.32 miles

  • St. Luke's Hospital Child Care Center

    8.86 miles

Contact Listing Broker

broker

Sterling H. Scott

SVN | Encompass Commercial

(816) 436-4600