3024 N ARKANSAS AVE, Wichita

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


This Listing is Courtesy of: . This information is deemed reliable, but not guaranteed. The buyer is responsible for verifying all information. This information is provided for use by its members and is not intended for any other purpose. This information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data is updated on a daily basis. Some properties which appear for sale on this web site may subsequently have sold and may no longer be available.

Please register to continue searching properties with unlimited access.