709 W Truman Rd - Apartments FOR SALE


Independence, MO 64050- Heart of Independence
$1,350,000 USD
913-426-5576
709 W Truman Rd, Independence, MO for Sale
$1,350,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

709 W Truman Rd
Independence, MO 64050
Heart of Independence


HIGHLIGHTS

  • Historic Building Completely Rebuilt in 2005
  • All Electric Building with Full Modern Fire Suppression Systems
  • Private Balconies
  • On-site Parking Lot and Secured Building Entry
  • Spacious Units Featuring Updated Finishes and Modern Appliances

OVERVIEW

Located in the heart of Independence, Missouri, Patriot Place is an incredible opportunity to purchase a 17-unit multifamily asset with 2005 construction. A registered historic building, Patriot Place was completely rebuilt in 2005 after a fire, with the insurance carrier investing $1.4 million to bring it to modern standards—including a full fire sprinkler system. The result is 2005 construction interiors with a brick facade. Full sprinkler system and all electric building keeps insurance costs low and the interiors of the buildings have modern construction finishes. The well-maintained property offers 12 one-bedroom/1-bath units with private balconies, three large studio units and two studio units. Each unit features spacious layouts, updated finishes, modern appliances, and large windows. Resident amenities include on-site coin laundry (landlord owned), a dedicated parking lot, and secured entry. With quick access to Truman Road and proximity to shopping, dining, and transportation, this meticulously maintained asset combines modern reliability, historic appeal, and excellent location—making it an ideal cash-flowing investment in Independence’s growing rental market.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

17

PRICE/UNIT

$79,412

CAP RATE

Request Cap Rate

% LEASED

82%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Patriot Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1924

PARKING SPACES

33

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,890 SF

ZONING

R-30

APN/PARCEL ID

26-340-02-02-01-0-00-000,26-340-02-12-00-0-00-000

ASK ABOUT THIS PROPERTY

Michelle LutzLutz Sales + InvestmentsMore Info
913-426-5576

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Michelle LutzLutz Sales + InvestmentsMore Info
913-426-5576

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.