USAMOLee's SummitHamel Heights510 Ne Florence Ave

510 Ne Florence Ave, Lee's Summit, MO

Real Estate

For Sale

Listed price in listed location currency (USD).

$4,825,000

000

MLS® 2606130

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Residential Income

Size -

Garage Yes

Taxes $38,146

Days Active 1

Lot Size

Approx. Age 1965

MLS® Number 2606130

Property Address: 510 Ne Florence Ave, Lee's Summit, MO, 64063-2528

Average square foot calculated using Size range provided by listing agent.

Description

Lutz Sales + Investments is pleased to present this exclusive Lee’s Summit multifamily package, on the market for the first time in over 25 years. Priced at $4.85M, this rare opportunity consists of 15 contiguous duplexes (30 units total) in one of Kansas City’s strongest suburban markets. Great location + coveted contiguous duplexes = winning investment! This offering has tremendous upside potential. Investors can pursue multiple exit strategies including holding long term to capture steady cash flow and natural appreciation, renovating slowly over time to push rents to their highest levels, or repositioning and exiting as either a full package or by selling off individual duplexes to owner-occupants or single-investor buyers. The potential here is truly unlimited with many strategic options. All 15 duplexes are contiguous, identical, and feature spacious three-bedroom, 1.5-bathroom floor plans, maximizing economies of scale on insurance and operating expenses. Ownership also allows investors to capitalize on 100% bonus depreciation in 2026 and the sig tax advantages that come with real estate investing. This package qualifies for 1031 exchanges and is eligible for both local and agency debt, offering flexibility in financing. No HOA! Approximately 10 of the 30 units have been refreshed with new paint, flooring and upgraded finishes. Mechanicals are mixed and have been replaced as needed. Solid property management in place and would like to stay on if new ownership desires. Unrenovated “classic” finish units are renting between $1395 and $1425. Refreshed units have reached $1595 per month but the upper end of lease rates have not been tested. Lee’s Summit itself is one of the most desirable submarkets in the KC metro. Known for its high household incomes, top-rated schools, and family-friendly reputation, the city consistently draws strong tenant demand. The property sits just mins from Downtown Lee’s Summit with tons of new development all around!

MLS® Number2606130

Laundry LevelIn Garage

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age1965

Basement

DrivewayGarage, Off Street

Garage Spaces

Heat

A/C

Heating Fuel

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Mar 19, 2026List Date

$4,825,000List Price

Commute

Commute

Starting Address

Destination Address

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