1208 White Oak St, Independence, MO 64050
2 Multifamily Properties Offered at $695,000 in Independence, MO
For Sale
Active
Asking Price $695,000
- Property Type
-
Multifamily
- Square Feet
- 7,050 SF
Listing Contacts
Alex Olson
Property Overview
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.
Highlights
- Amazing In Place Cash Flow – Day 1
- Housing Program Tenants – Top of the Market Rents!
- Major Cap-Ex Projects Already Completed
- In Place Cap Rate of 8%+ - Ability to get to a 10% Cap Rate!
- 13 Total Units
All available spaces
- Space
- Size
- 2,500 SF
- Space Subtype
- Multifamily
- Space
- Size
- 4,550 SF
- Space Subtype
- Multifamily
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