East Elm St, Independence MO 64050

Built in 1964, these are three nearly identical duplexes containing two 2-bed/1-bath units in a predominantly owner occupied “B” neighborhood. They require minimal updating and are currently rented at below market rent. Tenants are TAW and there is an opportunity to value-add through raising rents and the addition of a legal third bedroom in the basement level. The Cap Rate at 8.8% is very attractive for a property in a B neighborhood. We believe there is 18% built-in equity on each duplex. This would be a great addition to your portfolio – multiple duplexes with strong growth opportunities.