InvestorsHub Logo
Followers 175
Posts 18721
Boards Moderated 2
Alias Born 11/29/2010

Re: 841191 post# 90294

Monday, 07/28/2014 7:24:43 PM

Monday, July 28, 2014 7:24:43 PM

Post# of 163729
This is a terribly "blighted" abandoned retail ghetto in south Kansas City with two "$39 per night" welfare hotels nearby.

Records show APT purchased four parcels all all on 12/29/2011 ---$5 million (8844 Hillcrest), $300,000 (8932 Hillcrest), $300,000 (8830 Hillcrest) and $300,000 (no address). That included 18 acres and commercial 2 buildings (one of them . That came to $6.2 million 2-1/2 years ago.

http://www.jacksongov.org/SalesSearch/%28S%285f4qhfmnknsicb55bm2cop55%29%29/Results.aspx

This puts the appraised value much MUCH lower based on "comparable" properties in the area.
http://commercial-properties.findthebest.com/l/1921307/8844-Hillcrest-Rd-Kansas-City-MO-64138

I'm not an expert in kc real estate. But here in Chicago, depending on the location and demand, 2.2m an acre is definitely possible.


We're entitled to our own opinions --but not our own facts.