Lenexa Duplex for Sale at 8836-8838 Gallery, Lenexa, KS 66215
This Lenexa duplex is for sale for only $200,000 and has two units that have been renting for $990 per month. The seller has lived in one side and enjoyed the rent revenue from the other side. These units would be great for someone who wants to do the same and begin building wealth through real estate investment or for someone else who wants to rent both sides to create investment income.
Each unit has three bedrooms and 2.5 baths. In addition, each unit has an unfinished walk out basement so a creative investor may be able to create a studio apartment there and create more income. These units are in a popular area in Lenexa, KS located in a convenient area of the city where services, restaurants, and highway access are conveniently located. Add some cosmetic touches and take the step toward building wealth through real estate investment.
Duplexes and multifiamily units afford a unique opportunity to investors. Buyers can purchase a full duplex and live in one half and rent the other half. Buyers can use FHA or conventional loans to purchase a duplex. If they are living in one side, it is considered a residential loan and not an investment loan which comes with higher down payment and interest rate requirements. Buyers must qualify for the payment level without using the rental income in their calculations, but it is a great way to have a renter help pay the mortgage. Several years ago my son and his wife bought a duplex in Missouri and that is what they have done. He told me the other day that his mortgage is about $100 per month when the rent is netted out. I am so proud of them and would like to see other people take advantage of this kind of purchase.
To view the unit and see whether this is a purchase that makes sense for you, call me and I will arrange a private showing. Call or text me at 913-233-9547 to arrange for a showing.
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