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Updated over 8 years ago on .

User Stats

136
Posts
72
Votes
Christopher J Lemmon
  • Investor
  • Little Rock, IA
72
Votes |
136
Posts

Interested in KCK zip code 66102

Christopher J Lemmon
  • Investor
  • Little Rock, IA
Posted

I am interested in deals in KCK. I have one multi family in this zip code. A four plex I bought for $53,000 in 2013. I now have two of the 4 units rehabbed/updated, and upgraded the electrical box. It's 100% occupied currently. I have been studying the area and interested in SFR and multi families in the 66102 area. My goal is to buy long term hold rentals. I would consider turnkey rentals or rehab/wholesale properties. I am comfortable with the area and want to stay nearby because I have a business partner who lives in the zip code 66102 and manages my multi family for me. Does anyone have advice on how to find deals in this area? Also, I bought my first property at $18/square foot in about a "C" grade condition. It was occupied but needed to be updated a lot pretty badly.

For 66102, What price do other investors like to buy turn key properties now per square foot? I am thinking max $40/sqft. At what price for a property per square foot if it needs a major rehab? $10/sqft..?. 

After rehab I am now able to get $.65 - $.75 cents a sqft. monthly rent. That is with maximum added value, total gut rehab for the units with all new bathrooms, new kitchen cabinet, tile floor, granite counters, brand new appliances. 

What price per sqft monthly rent have other investors been able to get for 66102? Any other tips about this zip code welcome from more seasoned investors. ~ Chris