Address
1208 W White Oak Street, Independence, MO
Price
$ 695,000
Property Attributes
- MLS#2476238
- TypeMulti-Family
- CountyJACKSON
- CityIndependence
- Area206 - Independence Area
- NeighborhoodForbis Park
- Zip64050
- Style
- Year Built1925
- Taxes$ 6000
- Price$ 695,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1,798 SqFt
Data Source:
Heartland MLS (HMLS)
Property Description
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.
| Price History | |
|---|---|
| 3/6/2024 | Listed $725,000 |
| 3/25/2024 | 5% - $695,000 |
General Features
| Sewer | City/Public |
|---|---|
| Heating | Baseboard,Wall Furnace |
| Cooling | Window Unit(s) |
| Utilities | Cent Water Heater,Ind Water Heaters |
| Roof | Composition |
| Zoning | Res |
| Construction Materials | Vinyl Siding,Wood Siding |
| Year Built | 1925 |
| Property SubType | Package of Properties |
| Assoc Fee Paid Per | None |
| County | Jackson |
| Property Type | Residential Income |
| HOA / Comm Assn | No |
| Subdivision Name | Forbis Park |
| Garage Y/N | Yes |
| Status | Active |
| 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 ot |
| City | Independence |
| High School District | Independence |
| Total Units | 13 |
| MLS Area | 206 - Independence Area |
| Lot Size Square Feet | 1798 |
| Street Name | White Oak |
| Listing Terms | Cash,Conventional,1031 Exchange,Private |
| Public Remarks | 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 - 1 |
| Standard Status | Active |
| In Flood Plain | No |
| HMS_MaintenanceProvidedYN | No |
Interior Features
| Total Stories | 2 |
|---|---|
| Basement (Y/N) | Yes |
| Air Conditioning Y/N | No |
| Street Suffix | Street |
| Unit Type | 1 Bedroom,3 Bedroom,Other Unit |
Exterior Features
| Parking Features | Off Street,On Street |
|---|---|
| Water Source | City/Public - Verify |
| Lot Size Area | 1798 |
| Lot Size Units | Square Feet |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 64050
Price
Taxes
Visits
Year Built
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Last Updated: May 1, 2024 9:37 AM UTC
