3024 N ARKANSAS AVE, Wichita

$1,200,000
MLS: 593891

List Price: $1,200,000
MLS Number: 593891
Property Type: Apartment Complex
3024 N ARKANSAS AVE, Wichita, 67204

Class: Multi-Family
Year Built: 1978
School District: Wichita School District (USD 259)
County: Sedgwick

Property Description

INVESTMENT OPPORTUNITY!!! Rare chance to purchase a 32 unit apartment complex in north Wichita with all but seven units currently being rented! This package consists of (8) Four-plexes with an office/shed all on just over two acres of land at 30th North & Arkansas Avenue. These buildings have stone and maintenance free exteriors. The unit mix consists of three floor plans. There are (30) 1-BR Units (1/2 of these are loft units) and (2) 2-BR Units. Rent varies from $365-515 per month but most are $430 per month. The 1-BR units are either single story or 2-story units with lofts. The landlord provides an oven/range and refrigerator. The exterior has 3 separate parking lots with approximately 2 parking stalls per unit. Current cash flow gross is about $10k per month but with an attentive eye and a few improvements to the interior raising rents could be closer to $15k per month. Current Rent Roll is in the property information packet. All units are total electric. Tenants pay electric and water. Owner pays lawn, trash, 2 electric house meters and water on shop. About 1/2 of the units have updated central air conditioning units. All tenants have written leases (they typically do 1 year leases which convert to month to month thereafter) with deposits. Please do not disturb tenants.

Class: Multi-Family
Property Type: Apartment Complex
County: Sedgwick
Style: Side By Side
Approximate Age: 21 – 35 Years
Year Built: 1978
Num Units: 32
Num of Stories: Two
Parking: 2 per Unit,Street Parking
Exterior Construction: Frame,Vinyl,Other/See Remarks
Roof: Composition
Lot Size SqFt: 90604
Utilities: Public,Sewer
Parcel ID: 08709-932-0-43-03-005.00-D
Auction Date: 0000-00-00

Appliances: Over/Range,Refrigerator
Cooling: Central Electric
Heating: Central Electric
Amenities Safety FeaturesFire Alarm

School District: Wichita School District (USD 259)
Elementary School: Ortiz
Middle School: Pleasant Valley
High School: Heights

Directions: 29TH STREET NORTH AND ARKANSAS AVE – NORTH TO PROPERTY.

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