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MAJOR PRICE REDUCTION. Seller wants to sell! Over an 8% cap rate as-is! Get to 10% cap rate by placing program/voucher tenants in remaining units. This is a package of 13 doors across 2 buildings - 1208 W. White Oak Street (5 plex), 423 N. Spring Street/317 W. Farmer Street (8 plex), Independence, MO (All located less than a mile from each other). Experience exceptional cash flow, low price per unit yet in a suburban setting. Continue to build wealth by cash flowing, increasing rents using program-based tenants (Swope Health, ReStart, etc...), and maintaining property. As Kansas City continues to appreciate so will Independence. Hold for 5-10 years and expand your real estate portfolio. Implement bill back programs and reduce owner-paid utilities with LED lighting, low flow toilets, and more. Rare exceptional in place income and cap rate. Lots of recent CapEx - new windows (all units!) new roof (1 building), partial roof replacement (one building), new exterior paint (both buildings), new flooring and paint as units have turned and time has allowed. See supplements for owner expense statement, rent roll, proposed business plan, insurance quote, detailed building information and more. Tenants can walk to historic downtown Independence where there are bustling shops, entertainment, farmers market, bars, restaurants and more. No seller financing or assumable debt. Buildings must be sold together.
- Directions
- W. Truman Road to Chrystler Avenue, turn right on White Oak (on the corner). 423 N. Spring Street & 317 W. Farmer Street -- next door to each other. 1208 W. White Oak -- a few blocks to the west of other two properties (less than a mile)
- Subdivision
- Forbis Park
- City
- Independence
- County
- Jackson
- Property Type
- Residential Income / Package of Properties
- Listing Updated
- Mar 27, 2024 at 11:03am
- MLS Number
- 2476238
- Property Tax
- $6,000
- Zoning
- $Res
- Home Owners Association
- No
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