Independence Multifamily Investment
1206 W White Oak St, Independence, MO 64050
Well-maintained 5-unit apartment building near downtown Independence and Graceland University.
Type:Multifamily
Property size:
3,840 SFPrice / SF:
$124/SF- Added:
- Mar 12, 2026
- Days on Market:
- 71
- Last Refresh:
- Mar 19 at 11:01 pm
Property Features for 1206 W White Oak St
General Information
- Standard status
- Active
- Size
- 3,840 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1925
Listing agent Michelle Lutz License #2018036086
Listing office Lutz Sales + Investments
Listing date Mar 12, 2026
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Lutz Sales + Investments
HighLights
- Prime Location: Minutes from downtown Independence and across from Graceland University
- Value‑Add Opportunity: Potential for rental growth through cosmetic upgrades.
- Strong Rental Demand: Located in a high‑demand area with walkable amenities and proximity to Independence Square.
- Unit Mix: Features four 1‑bedroom/1‑bath units and one 2‑bedroom/1‑bath unit.
- All units equipped with washer/dryer hookups.
- Classic Building: Character‑rich building built in 1925 with solid construction.
Overview
The White Oak Apartments is a 5-unit multifamily property constructed in 1925. The property is located minutes from downtown Independence and across the street from Graceland University. The building features a classic exterior and contains four 1-bedroom/1-bath units and one 2-bedroom/1-bath unit. All units have washer/dryer hookups. Cosmetic upgrades can further drive rental growth. All units have been updated to varying degrees over the past couple years. The landlord is responsible for water and gas, which are on a master meter. Electric is separately metered, and tenants pay their own electric, with the exception of 2 voucher tenants. The location provides close proximity to downtown shopping, coffee shops, grocery stores, parks, and a variety of restaurants, along with access to public transportation and commuter routes. Residents benefit from walkable amenities, nearby green space, and the historic Independence Square, creating rental demand. The property is an ideal asset for student and young professional housing.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$447.6K
NOI $40,284 @ 9.00% cap · cautious / downside scenario
Moderate
$575.5K
NOI $40,284 @ 7.00% cap · market / base-case scenario
Aggressive
$805.7K
NOI $40,284 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.3k | $20.40 |
| − Vacancy | −$5.1k | −$1.33 |
| EGI | $73.2k | $19.07 |
| − OpEx | −$33.0k | −$8.58 |
| NOI | $40.3k | $10.49 |
3,840 SF · lease $20.40/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$575.5K
$503.6K – $671.4K
NOI $40,284 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.13M
$993.0K – $1.32M
NOI $79,442 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Independence
- County
- Jackson
- State
- Missouri
- Longitude
- -94.4310571
- Latitude
- 39.0953778
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 5-unit apartment building near downtown Independence and Graceland University.
Where is this apartment building located?
The property is located at 1206 W White Oak St Independence, MO.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Prime Location: Minutes from downtown Independence and across from Graceland University; Value‑Add Opportunity: Potential for rental growth through cosmetic upgrades.; Strong Rental Demand: Located in a high‑demand area with walkable amenities and proximity to Independence Square.
