Suburban rentals at their finest, 100% spacious 3-bedroom units with attached garages and bonus living space in the full basement. Located in well-rated Belton school district. 2000-2004 construction means low maintenance, modern systems. All utilities sub-metered including water and trash. Units Feature two bedrooms on the first level and primary suite with its own attached half bathroom, walk in closet, and vaulted ceilings on the second floor. Dedicated laundry room with side-by-side hookups on the ground floor. In demand units with low turnover and high tenant retention.
There is a full basement in every duplex where more finished living space can be added, easy to fit another bedroom and bathroom. Currently some basements are finished and some are not. Income upside of ~$375/mo/unit leaving the units three bedroom; that number would increase by adding finished square footage in the basement. Priced below recent comparable sales in Belton with similar size and year of construction.
Easy commute to anywhere in the Kansas City metro and ample employment along the thriving I-49 corridor. Properties like this rarely come up for sale. Do not miss this incredible opportunity!
Why we love it: Low turnover in these large duplex units in well-rated school district. Modern construction and priced below the two recently sold comparables in Belton. Several exit strategies for the next owner, can sell off as a package or sell individually to owner occupants as one side becomes vacant.
The Challenge: Some cosmetic updates may be needed as units turn over to maximize rental rates. Systems and roofs from year of construction will come due for replacement in the next 5-10 years.
The Value-add Play: Get all units up to market rents as leases renew. Consider finishing space in basement and adding a bedroom and bathroom to make these into 4 bedroom 2.5 bathroom units. On exit consider selling each duplex individually for maximum profit.