As a broker who has over twenty five years of experience in multifamily properties I like to help investors find deals. Not everyone knows where to find the listings so I thought I would share what is currently on the market with you.
I chose Raytown, MO because I am familiar with the area and I like the rental market there. Turn-Key Properties LLC manages hundreds of rental properties in the area and I have found that Raytown rentals move quickly.
To start with Raytown is a small area nearly completely surrounded by Kansas City, MO. I have included in this search properties from the MLS listed as being in the Raytown School District. With the current and steadily deteriorating condition of the Kansas City, MO school district, we have seen a steady increase in demand for affordable housing in the Raytown area.
Why start with the MLS? I know most serious commercial real estate brokers do not pay much attention to the MLS, but many residential real estate agents often list property and don't know where else to advertise it.
The other site of importance to the multifamily real estate market is of course Loopnet.com I one really interesting listing on that site.
If I may be of assistance to you in seeing or gathering more information about these or other listings give me a call. I know this market inside and out. Ben 816-313-8876
El Dorado Apartments
58 units currently listed at $1,895,000, the property has been on the market for a while.
I am fairly confidant the reason for selling is the fact that the neighboring Wal-Mart and Hy-Vee have vacated the neighborhood. However, the good news is that there has been quite a lot of interest in the site from several large HOME IMPROVEMENT stores.
If that happens you will see an increase in employment opportunities in the area and with that a greater demand for affordable housing.
I like this property for several reasons.
- High occupancy: 94%
- Affordability: Zilpy.com suggest the rental rate for a 2 bedroom in the area to average $550.
- Location: The property is located in close proximity to several attractions, including the sports stadiums, stores, restaurants, entertainment and two major Interstates!
- Condition: The property has been fairly well maintained.
- Upside Potential: When this commercial property next door does get developed into something new it will undoubtedly bring jobs and renters.
- Bus Route: The Metro bus comes to within 2 blocks of the site.
Turn-Key Properties LLC
7312 e 67th St.
Kansas City, MO 64133