$1,110,000
$1,075,000
3.3%For more information regarding the value of a property, please contact us for a free consultation.
26,946 SqFt
SOLD DATE : 09/16/2021
Key Details
Sold Price $1,110,000
Property Type Apartment
Sub Type Apartment Complex
Listing Status Sold
Purchase Type For Sale
Square Footage 26,946 sqft
Price per Sqft $41
Subdivision Market St-Hyde & Ferrell
MLS Listing ID SCK600178
Sold Date 09/16/21
Style Garden
Total Fin. Sqft 26946
Originating Board sckansas
Year Built 1964
Annual Tax Amount $11,421
Tax Year 2020
Lot Dimensions 37307
Property Sub-Type Apartment Complex
Property Description
Don't miss out on this wonderful opportunity to purchase a 41 unit apartment complex!!! It is conveniently located just north of downtown Wichita, with easy access to I 135. Studio, 1 bedroom, and 2 bedroom units available. Built in 1964. 26,946 total square feet. Situated on 0.86 acres. Concrete decks repaired in 2016 to 2017. 30 year TPO roof was placed in 2017. 41 total units, and 16 are vacant. Current income of $9710 per month and full occupancy would be $17980 per month! Amenities include an on-site laundry facility, covered parking, enclosed courtyard area, all-electric except laundry hot water heaters. Five studios rented between $310 and 350. Thirty-One 1-bedroom units rented between $410 and $475. Seven 2 bedroom units with one being used as the office rented between $450 and $575. Tenants pay for electricity - individual meters. Owner pays for trash, water, common area electricity. There is one gas bill for the dryer in the laundry area, which is not a substantial expense. Owner does their own lawn care and quarterly spraying for bugs/pest control.
Location
State KS
County Sedgwick
Direction E. Murdock & Broadway, West to Market, North to Properties
Rooms
Basement None
Interior
Heating Central Electric, Individual Unit
Cooling Individual Units, Central Electric
Flooring Carpet
Fireplace No
Appliance Range/Oven, Refrigerator
Heat Source Central Electric, Individual Unit
Exterior
Garage Description Covered, Parking Garage
Utilities Available Gas, Public, Sewer Available
View Y/N Yes
Roof Type Other - See Remarks
Total Parking Spaces 41
Building
Unit Features [{\"UnitTypeActualRent\":410,\"UnitTypeBedsTotal\":31,\"UnitTypeType\":\"Unit 1\",\"UnitTypeKey\":\"SCK600178Group_1\"},{\"UnitTypeActualRent\":450,\"UnitTypeBedsTotal\":7,\"UnitTypeType\":\"Unit 2\",\"UnitTypeKey\":\"SCK600178Group_2\"}]
Architectural Style Garden
Structure Type Brick Veneer
Schools
Elementary Schools Park
Middle Schools Marshall
High Schools North
School District Wichita School District (Usd 259)
Others
Security Features Central Laundry,Fenced
Financing Other
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