Seller's Agent in 2024
Alex Olson
Legendary Apartment Brokers
(816) 591-0825
2 in this area
33 Total Sales
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.
Last Agent to Sell the Property
Legendary Apartment Brokers Brokerage Phone: 816-591-0825 License #2019043249 Listed on: 03/06/2024
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/07/2024 06/07/24 | Sold | -- | -- | -- |
| 05/16/2024 05/16/24 | Pending | -- | -- | -- |
| 03/25/2024 03/25/24 | Price Changed | $695,000 | -4.1% | -- |
| 03/06/2024 03/06/24 | For Sale | $725,000 | -- | -- |
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,222 | $16,082 | $4,228 | $11,854 |
| 2024 | $2,222 | $32,072 | $779 | $31,293 |
| 2023 | $2,171 | $32,072 | $779 | $31,293 |
| 2022 | $898 | $12,160 | $570 | $11,590 |
| 2021 | $898 | $12,160 | $570 | $11,590 |
| 2020 | $814 | $10,706 | $570 | $10,136 |
| 2019 | $801 | $10,706 | $570 | $10,136 |
| 2018 | $729 | $9,309 | $455 | $8,854 |
| 2017 | $729 | $9,309 | $455 | $8,854 |
| 2016 | $701 | $8,867 | $350 | $8,517 |
| 2014 | $686 | $8,867 | $350 | $8,517 |
Seller's Agent in 2024
Alex Olson
Legendary Apartment Brokers
(816) 591-0825
2 in this area
33 Total Sales
N
Buyer's Agent in 2024
Non MLS
Non-MLS Office
(913) 661-1600
3 in this area
7,911 Total Sales
Source: Heartland MLS
MLS Number: 2476238