BRANSON EAST APARTMENTS - 223 SWEET GUM KIRBYVILLE, MISSOURI 65679 FOR SALE | $459,900
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BRANSON EAST
APARTMENTS
223 SWEET GUM
KIRBYVILLE, MISSOURI 65679 STEVE KELLY
INVESTMENT SALES
AMG COMMERCIAL REALTY
skelly@amg-cr.com
816.965.7985
M U LT I FA M I LY A S S E T
FOR SALE | $459,900
Contents Summary Location Photos Rent Roll Proforma Disclosure Notice Agent Bio
Summary
PROPERTY OVERVIEW
The Branson East Apartments are a one-building, three floor
multifamily property featuring six 2 bedroom/1 bath
apartments. The 6-unit property is located just east of
Branson in Kirbyville, MO. Kirbyville gives residents the feel
of laidback living with the convenience of Branson less than
10 minutes away.
Originally built in 1993, this property recently underwent
extensive renovations including; upgraded flooring, carpet,
new appliances, updated kitchens, bathrooms, and sought-
after features such as sliding barn doors for the in-unit
washers and dryers.
PROPERTY HIGHLIGHTS
Updated Interior Units
OFFERING SUMMARY
Sale Price $459,900 Value Add Opportunity for Buyer through
Utility Billback and other Recurring Charges
Unit Count 6
Unit Mix (6) 2BRx1BA
Unit Size 840 SF – 856 SF
Great highway access for tenants to commute into
Property Tax $1,530.70 Branson.
Lot Size 0.59 AC
Year Built 1993
Submarket East Branson 100% Occupied
Silver Dollar City
Branson, MO
223 Sweet Gum
Apartments (Kirbyville, MO)
Table Rock Lake
Location
MO/AR Stateline
LOCATION DESCRIPTION
The Branson East Apartments are located in the Branson/Tri-Lakes area of
4.8 Miles to Branson
Missouri. This area's economy has historically been dominated by the City
of Branson, a regional tourist destination. The Tri-Lakes area has
experienced dynamic and continual growth in size in the last three decades
increasing by more than 45%. Attractions such as the Tanger Outlet Malls,
Silver Dollar City, Branson Landing, and Table Rock Lake, have continued to 13.2 Miles to Silver Dollar City
draw tourists as well as substantial job opportunity to Branson and the (Largest Employer in the Tri-
Lakes Area)
surrounding communities. With the growth, the demand for housing has
increased as well. Many multifamily properties in the area have transitioned
to nightly rentals leaving properties such as Branson East Apartments with
historically low vacancies due to the demand for apartments.
11.9 Miles to Table Rock Lake
Kirbyville enjoys the best of both worlds for residents. Escaping the hustle
and bustle of Branson, Kirbyville offers residents a suburban and rural feel
all while being within a few minutes drive to the amenities and higher
wages that Branson has to offer.
Photos
Photos
Rent Roll Unit Unit Unit Unit Size (SF) Lease Current Number Bed Bath End Rent #301 2 BR 1 BA 840 SF 11/30/2022 $725.00 #302 2 BR 1 BA 840 SF 04/01/2023 $725.00 #303 2 BR 1 BA 856 SF M2M $725.00 #304* 2 BR 1 BA 856 SF 6/1/2023 $775.00 #305 2 BR 1 BA 856 SF 10/31/2022 $775.00 #306** 2 BR 1 BA 856 SF 6/30/2022 $725.00 Totals 5,104 SF $4,450.00 * #304 – Previous tenant vacating 6/4/22, new tenant moving in at increased rate of $775 ** #306 – Tenant is renewing, but with an increase to $775
Price $459,900
NOI (Stabilized/Proforma) $29,025
DSCR 1.19
Est. Annual Debt Service $24,480
Est. Monthly Debt Service $2,040
Loan Amount $367,200 – 4.50% fixed; 25-year amortization
Loan to Value (LTV) 80.00%
Required Cash In (%) 20.00%
Required Cash In $91,800
Annual Debt Service (Actual) $24,480
Proforma Monthly Debt Service (Actual) $2,040
Est. Depreciation Expense $15,000
Est. Interest Expense (Annual) $16,357
Expense Not Included in NOI $31,261
NOI (Stabilized/Proforma) $29,025
Annual Debt Services (Actual) $24,480
Free Cash Flow $4,545
Cash on Cash Return (CoC) 4.95%
Year 1 Principal Reduction/Equity Increase $8,135
Combined Cash + Equity $12,680
Overall Year 1 Return 13.80%
Disclosures, Notices and Confidentiality AMG operates within a family of companies with many subsidiaries and/or related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, and investment fund management. At times different Affiliates may represent various clients with competing interests in the same transaction. This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property. This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and AMG Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete, nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner. Neither the Owner or AMG, Inc, nor any of their respective directors, officers, Affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner or AMG You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or AMG Purchaser acknowledges that AMG is acting on behalf of Owner as exclusive broker in connection with the sale, and also acknowledges that AMG is not the agent of the Purchaser. Purchaser agrees to pay all brokerage commissions, finder’s fees, and other compensation to which any broker (except AMG) finder or other person may be entitled in connection with the sale of the Property if such claim or claims for commissions, fees or other compensation are based in whole or in part on dealings with Purchaser or any of its representatives; and Purchaser agrees to indemnify and hold harmless AMG and Owner, their respective affiliates, successors, and assigns, employees, officers, and directors against and from any loss, liability or expense, including reasonable attorneys fees arising out of any claim or claims by any broker, finder or similar agent for commissions, fees, or other compensation for bringing about any sale of the property to Purchaser if such claim or claims are based in whole or in part on dealings with Purchaser or any of its representatives. Disclaimer © 2022 AMG The information contained in this document has been obtained from sources believed reliable. While AMG does not doubt its accuracy, AMG has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
Agent Bio
Steve Kelly
Investment Sales
Steve Kelly is an industry expert with over 20-years of professional
experience within the real estate and financial industry. Primarily
focused on the successful scaling of the banking industry, his pivot to
full-time brokerage has been a smooth transition. Aside from scaling
816.965.7985 banks, Steve comes from a solid background focused on commercial
banking, mergers and acquisitions, capital markets, and real estate
skelly@amg-cr.com financing and investment analysis. Steve’s well-rounded background of
qualifications have led him into pursing his passion of Investment
Sales.
When Steve isn’t busy helping his clients with their real estate
investments and acquisitions, he enjoys spending time outdoors
with his family in the Springfield, MO area.
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