Listed by Berkshire Hathaway HomeServices PenFed Realty Wichita
$2,950,000
Riverside Villages
Details
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Units 36
Cap Rate 5.8%
NOI $171,246
Occupancy 97.2%
Tenancy Single
Pro-Forma Cap Rate 6.48%
Pro-Forma NOI $191,250
Year Built 1967
Year Renovated 2013, 2018
Buildings 2
Stories 3
Acreage 0.892
Multifamily | 36 Units | $81,944/unit
Marketing description
Introducing an exceptional investment opportunity in South Hutchinson, KS. This 24,398 SF multifamily property boasts 36 units and a prime location in the thriving South Hutchinson area. Built in 1967 and thoughtfully renovated in 2019, the property offers modern amenities and a solid foundation for long-term value. With a zoning of R-4 and an impressive 90% occupancy rate, this property presents a compelling investment for multifamily and high-rise investors seeking a strong, income-generating asset with significant growth potential. Don't miss the chance to add this impressive property to your portfolio.
Investment highlights
- Entire exterior vinyl siding, replaced within last 10 years
- New windows and doors when siding was replaced
- New flat roofs on both buildings
- Club house remodel opportunity to create tenant amenity or 2 bedroom unit
- New pool with all replaced equipment
- Strong occupancy history
Listing Contacts
Listed by Berkshire Hathaway HomeServices PenFed Realty Wichita
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$171,246.00
$14,270.50/mo
Valuation Metrics
0
DSCR
5.8%
Cap Rate
5.8%
ROI
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