All Forum Posts by: Mark Boek

216-218 Pacific Dr. 

Belton, Mo 64012 

Add to your cash flow with this mixed package of 3 properties: residential / multi-family / office building with prime locations.

http://win3propertylistings.com/view.php?item=3282...

http://win3propertylistings.com/view.php?item=3282...

http://win3propertylistings.com/view.php?item=3282...

Property 1:

Address: 7900 E 87th St, Raytown, Mo 64138

The details are as follows:

Freshly Remodeled Home with Large Fenced Yard Will Make a Great Long-Term Rental!

This 3 bedroom / 2 bath home was remodeled with a retail buyer in mind, so it will make a great rental for your tenants.

1 car garage

Full unfinished basement

Large fenced back yard

Nice deck

New carpet, new paint, new cabinets, new light fixtures / ceiling fans, updated bathroom

Updated electrical

Fireplace

Repairs: HVAC, water heater, dishwasher and stove were stolen and will need to be replaced. This home is rent-ready other than that.

Schools: Raytown schools -per Raytown Schools website (recommend confirmation by buyer)

Built 1952

1630 Square feet

.46 acre per Jackson County website

Yearly Taxes: $1054.16 per Jackson County website

Purchase Price: $65,000.00

Market Rent: $900

$6,561.64 Net Operating Income after 5% vacancy, 7% Mgmt, 10% Mntnc, Insurance, & Taxes

(This is not a guarantee of future income)

To view pictures of the property, go to my website at:

http://win3propertylistings.com/view.php?item=3282...

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Property 2:

519 E 23rd St, Independence, Mo 64055

Tri-Plex in Independence With Possible Extra Income From Garage / Storage Rental

2 – 1 bedroom units which rent for $550.

1 – 2 bedroom units which rents for $600.

Nice extra-deep 1 car garage which could be rented for additional $100-$200/month cash flow.

Roof approximately 3 years old.

Built 1953

2015 Taxes: $847.12 per Jackson County website

Purchase Price: $76,200

$11,632 Net Operating Income after 5% vacancy, 7% Mgmt, 10% Mntnc, Utilities, Insurance, & Taxes

Owner pays gas, water and trash

Repairs needed:

Carpet in 2 upstairs units.

Small leak in downstairs unit – appears to be from exterior concrete stair / exterior wall junction due to excessive rainfall.

To view pictures of the property, go to my website at:

http://win3propertylistings.com/view.php?item=3282...

______________________________________________________________

Property 3:

High Visibility Office Building in Independence

521 E 23rd St

Independence, Mo 64055

Upstairs unit rents for $525/mo – currently rented.

Approximately 400 square feet

Reception area, 2 offices, 1 bathroom, storage room

Unit has been used as insurance office, church, and tattoo shop.

Lower unit is currently vacant. It has been used as a residence and office space

Approximately 400 square feet

Has open office area, 1 office, bathroom with shower, and closet

Repairs:

Downstairs carpet

Built 1949

2015 Taxes: $2,045.66 per Jackson County website

Purchase Price: $63,800 -- this pricing applies only if building is purchased as package with the following properties:

519 E 23rd St, Independence, Mo 64055

7900 E 87th St, Raytown, Mo 64138

$5,465.44. Net Operating Income after 5% vacancy, 7% Mgmt, 10% Mntnc, Utilities, Insurance, & Taxes

Owner currently pays gas for both units, but they are billed separately. Require tenants to pay their own gas and the yearly Net Operating Income should increase by $2,024!

To view pictures of the property, go to my website at:

http://win3propertylistings.com/view.php?item=3282...

______________________________________________________________

Thanks, and have a blessed day

Mark Boek

816-401-3544

Owner Agent

610 Frandsen Rd, Independence, Mo 64050

Purchase Price: $26,000.00

3 bedroom / 1 bath on fenced corner lot
Detached garage
Roof approximately 5 years old
Foundation work completed approximately 5 years ago
Independence schools – per Independence School District website. (please confirm)

Built 1934

1049 square feet per county records
Lot size: .19 acre per county records

Market Rent: $800 / mo
Net Operating Income after 5% vac. provision, 10% mgmt, 10% maintenance, taxes, & insurance: $6066
(Numbers are for illustration purposes only and are not a guarantee of future income)

2014 Taxes: $630

Repairs needed:
Kitchen update
Bathroom update
New electrical
New plumbing
New air conditioner
Current basement access door is in kitchen floor. Buyer may want to relocate it for larger kitchen area
Interior paint / minor drywall repair
Flooring
Some exterior siding repair


.

Call Mark at 816-401-3544 with questions or to see the inside



owner agent

Add to your monthly cash flow with this owner financed home in Independence, Mo.

Address: 1315 N Main St, Independence, Mo 64050

The details are as follows:

Located near the historic Independence square.

Mature trees, a great front porch, a few blocks from school, and a fenced yard make this a desirable home for tenants

Master bedroom is located conveniently on the main level, as well as the laundry room.

This home offers lots of closet space for your tenants' “stuff“, as well as an upstairs play area / office area / possible 4th bedroom.

Electric stove stays.

Ceiling fans in living room and dining room.

Furnace installed 2010

Unsure of age of central A/C, appears newer. Also has a window unit upstairs.

Carpet in living room, dining room, and bedrooms.

Ceramic tile floors in kitchen, laundry and bathrooms.

Newer double pane windows.

Separate out-building in back is ideal for studio, workshop, or storage. Also has attic storage available

Off-street parking possible off of alley in back.

Conveniently located within short walking distance to Chrisman High School

Schools: Independence (per Independence School District web site - please confirm)

Built 1860

1804 Square feet

.27 acre per Jackson County website

Yearly Taxes: $1157.06 per Jackson County website.

Market Rent: $850-900/mo

$377.72 Monthly Principle and Interest payment.

Purchase Price: $75,000.00

Investor Owner Finance Terms:

$12,000 down.

6% interest amortized over 30 years.

Entire balance due in 7.5 year.

$6,150.94 Net Operating Income after 5% vacancy, 10% Mgmt, 10% Mntnc, Insurance, & Taxes

To view pictures of the property, go to my website at:

http://win3propertylistings.com/view.php?item=3281...

Rent ready. Exterior siding on wall of outbuilding could use some repair - see picture on website.

______________________________________________________________

Thanks for looking,

Mark Boek

816-401-3544

Owner Agent

10510 E 23rd St

Independence, Mo 64052

Great corner location on 23rd St.

So many options! Ideal location for chiropractor / doctor / dental office, insurance agent, stock broker, mortgage broker, CPA, attorney. . .

Owner is currently using majority of upstairs for his chiropractic practice. 1 room upstairs is rented to 1 long term residential tenant (5 yrs) for $400/mo. Basement apartment is rented to 1 residential tenant for $600/mo. Both are month to month rentals. Units are not on separate meters.

Convert upstairs to all commercial, lease to one tenant or lease to multiple tenants who need only a small office - or leave as-is with residential tenants in place.

Current upstairs layout accommodates waiting room, reception area, kitchen area, conference room, 3-4 offices, storage area, and 2 bathrooms.
Upstairs has approximately 1365 sq ft (recommend confirmation by buyer)

Parking lot can accommodate 10 cars based on past parking arrangement.

Zoned O-1 -- Office-Residential per City of Independence. A minimum of 50% of upstairs must be used for office per city (recommend confirmation by buyer)

Independence schools -per Independence Schools website (recommend confirmation by buyer)

.27 acre per Jackson County website
2014 Taxes: $1757.69 per Jackson County website

Seller is retiring, so the majority of the upstairs currently in use will be ready for a new tenant. $525/mo has been used in the scenario below for the area currently occupied by the seller, in addition to the current rents of $400 and $600.

Purchase Price: $75,000.00

$11,615.86 Net Operating Income after 5% vacancy, 10% Mgmt, 10% Mntnc, Insurance, & Taxes Cap Rate: 15.5

(utilities are paid by seller.)

New furnace installed in fall of 2013. Could use updated interior and exterior paint, flooring, and possibly a roof in the next few years. 

You can message me or call 816-401-3544

Thanks for looking,

Mark Boek

Here are 5 occupied Kansas City rental properties for sale along with one property needing rehab. This opportunity will require immediate action, as the seller is poised to move ahead with another buyer if closing cannot be completed within 2 weeks.

Cash purchase only.

They all have rental agreements in place except for 5600 E 40th St.

You can see additional pictures using the links under each property. I took the pictures last Tuesday 3/17/15.

Duplex - 2610 & 2612 Benton Blvd, Kansas City, Mo 64127

Purchase Price: $59,500

Both units are 2bed. / 1 bath

Rent: 1536/mo Both units are Sec 8 (landlord pays utilities for upstairs unit)

http://win3propertylistings.com/view.php?item=3280...

2832 Van Brunt Blvd, Kansas City, Mo 64128

Purchase Price: $35,000

3 Bed / 2 Ba

Rent: 600/mo (new lease this month)

http://win3propertylistings.com/view.php?item=3281...

4314 E 24th St, Kansas City, Mo 64127

Purchase Price: $24,500

3 bed / 1.5 Ba

Currently Rented: 554/mo Sec 8

http://win3propertylistings.com/view.php?item=3281...

5600 E 40th St, Kansas City, Mo 64130

Purchase Price: $9,500

3 bed / 1 ba

Rent: 0 (market rent:600)

House had fire damage. Seller has pulled permits and started rehab. Siding on house is partially complete. Needs windows, electrical, plumbing, drywall, cabinets, doors. Has new roof

http://win3propertylistings.com/view.php?item=3281...

3733 Mersington Av, Kansas City, Mo 64128

Purchase Price: $18,000

2 bed / 1 Ba

Rent: $500 (lease signed this month)

http://win3propertylistings.com/view.php?item=3281...

5618 E 39th Ter, Kansas City, Mo 64130

Purchase Price: $17,000

3 Bed / 1 Ba

Currently Rented: 500/mo

Seller did not have key to show inside. He said tenant keeps it very clean inside. Could use siding and AC unit. Current tenant did not want him to install a/c unit, currently uses a window unit.

http://win3propertylistings.com/view.php?item=3281...

Please let me know right away if you have interest, as we have a short time frame on this package.

Thanks for looking,

Mark Boek

@Andrew Fingado yes, price is firm.

Thanks

@Patrick L. @Hubert Hultgren sorry, but I do not have square footage, just the footage from the county website of 1333 - which I assume is for the entire front house. The 2 bedroom unit is the full first floor of the house, so it is a good-sized unit. It also has a covered porch off the back as you can see in the picture below. The other two units are smaller sized 1-bedroom units.

I anticipate rents could be increased $100 each on A unit (downstairs house - current rent 475), and C unit (upstairs - current rent 350) (based on similar Craigslist listings) The other 1 Bedroom "B" unit with the garage is at full market rent at $450. 

(Just realized I had switched the rent amount for the 2 bdrm and 1 bdrm in my original post - sorry about that. Gross rents are still the same)

Thanks

@Jeff McCaskey  , I was surprised at the 7% as well. They do charge a $35/mo internet marketing fee when they're marketing for tenants, but it still seems to be a good deal (unless you had a lot of turnover/vacancies)

@Patrick L. , here are a couple of more multi-family comps off the mls from the last 180 days within about a half mile - they are a bit newer, but I think they give a good idea of the market:

11316 E 15th Street - Duplex - 79,500 - 41 Days On Mkt - one side vacant

11405 E 19 Stree - Duplex - 90,000

2009 S Claremont Avenue - Duplex - 82,500 - fully rented

If I was paying all cash I might look for better numbers, but since it's a low entry cost it seems like a winner for me