593 N Somerset Ter
Olathe, KS 66062
Multifamily Property For Sale
·
8 Units
Property Facts
| No. Units | 8 | Building Size | 5,190 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1984 |
| Building Class | B | Parking Ratio | 1.54/1,000 SF |
| Lot Size | 0.06 AC | ||
| Zoning | R5 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.06 AC |
| Building Size | 5,190 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1984 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | R5 |
About 593 N SOMERSET TER , OLATHE, KS 66062
Property consists of eight 1-bedroom units that vary in size but average 640 sq. ft each. Seven of the eight units have washer/dryer hook-ups inside the unit (none currently have washer/dryer in them). Half of the units have been undated within the past four years, the other half need cosmetic repairs/updating as units turn over. The most recent "upgrade" cost approximately $5k for paint, flooring, updated countertops in kitchen & bath and misc. repairs. Mechanicals range from 10+ years old to newly replaced: hot water heaters, window AC/Heat (no central HVAC), refrigerator, oven/range. HOA provides lawn care, snow removal & trash service. Roof is approximately 7-10 years old and was replaced by previous owner. Some deferred maintenance required to exterior. Rents are almost all below market and if washer/dryer added all the rents can be increased significantly. Separately metered.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $560.00 | 640 |
Property Taxes
| Parcel Number | DP13500000-0T0D | Improvements Assessment | $49,587 |
| Land Assessment | $6,878 | Total Assessment | $56,465 |
Property Taxes
