Listed by Berkshire Hathaway HomeServices PenFed Realty Wichita
$900,000
1646/1658 S Fern Ave
Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Year Built 1980
Stories 2
Acreage 0.485
Multifamily
Marketing description
High-Yield 12-Unit Portfolio | 100% 2-Bedroom Mix | Near Universities
Seize a rare multi-family opportunity at the corner of S Fern and Merton. This portfolio consists of three (3) well-positioned quadplexes situated on two adjacent lots, offering a streamlined management experience and a consistent revenue stream.
Investment highlights
- The Asset: Twelve (12) uniform 2-Bedroom, 1-Bathroom units. This consistency simplifies maintenance and ensures a predictable leasing cycle.
- Income Stability: Current rents range from $675 to $750, providing immediate cash flow with clear "value-add" potential to bring all units to the top-of-market rate.
- Prime Corner Location: Occupying the NE corner of S Fern Ave, these buildings enjoy high visibility and a spacious, residential feel that attracts long-term tenants.
- Strategic Location: Just blocks from Friends University and Newman University, and minutes from the Delano District. This is a high-demand rental corridor for students, healthcare workers, and downtown professionals.
- Investment Snapshot: 3 Quadplexes | 12 Total Units | 100% 2BR/1BA Mix | Prime Corner Lot.
Listing Contacts
Listed by Berkshire Hathaway HomeServices PenFed Realty Wichita
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