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Blog 316-529-3100 team@langere.com

1808 N Market St Wichita KS 67214

$495,000 Price 5,686 sq. ft.

INCOME PRODUCING MULTI-FAMILY PACKAGE - Property consists of two 4plexes and one Duplex, for a total of Ten 1 bedroom, 1 bathroom units. Eight of the ten units are currently rented for $495 per month, and two of the ten units rent for $400 per month, for a total gross income of $4,760 or $57,120 per year. Rental increase notices will be sent out soon and increase rents to approx $5,000 per month or $60,000 per year. Eight of the ten units have been updated inside, including new laminate flooring, new granite countertops, new fiberglass tub unit, new toilet, new bathroom vanity, mirror and light fixture, new faucets, new bedroom carpeting and pad. Two of the $400 per month units have long-term tenants who have lived here and paid on time for 10 plus years and are therefore not updated. Major improvements include - new HVAC systems in 9 of the 10 units between 2020 and 2022, all windows and front and back doors replaced in 8 of the remodeled units between 2020 and 2022. Seller has extra matching laminate flooring in storage that may transfer to buyer. Tenants pay electric and gas, Landlord pays water and trash. Refrigerator and Oven are provided by landlord and will transfer with sale, property has no laundry hookups, Laundromat located 1 block away. 1808 and 1802 are on east side of market street with shared parking lot, and 1809 is across Market to the west, parking is in alley. Rent roll and expense reports are included in MLS listing. Copies of leases will be provided with an accepted contract. Property to be sold as is, seller to make no repairs. To sellers knowledge, systems and appliances are in working order, assuming normal wear and tear. Seller member is a licensed real estate broker in the state of KS.

Listed by Reece Nichols South Central Kansas

At a Glance

Status
Active
MLS ID
616341
Type
Apartment Complex
Year Built
1950
Lot
acres
Neighborhood
County
Sedgwick
Area
307
School District
Wichita School District (USD 259
Elementary
Irving
Middle School
Marshall
High School
North

Location

Wichita 67214 1808 N Market St

Property Details

Exterior Details
Lot Size
19109
Roof
Composition
Interior Details
Appliances
Over/Range, Refrigerator
Basement
None
Basement Finish
None
Cooling
Central Electric
Flood Insurance
Unknown
Floors
Other/See Remarks
Heating
Central Gas, Forced Air
Property Details
Above Grade Source
Court House
HOA
No
Owner Paid Expenses
Lawn Maintenance, Trash, Water/Sewer
Ownership
Individual
Tax Specials Yearly
79
Tax Year
2021
Tenant Paid Expenses
Electric, Gas
Total Tax Specials
0
Utilities
Natural Gas, Sewer

The information being provided is provided exclusively for consumers’ personal, non-commercial use, and that it may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing. This information is not verified for authenticity or accuracy, is not guaranteed and may not reflect all real estate activity in the market. ©1993-2021 South Central Kansas MLS. All rights reserved.