Emerald Lane Apartments

Multi-Family for Sale
Catylist Listing ID: 30418985
Property Subtypes: Low-Rise/Garden
Number of Units: 23 Units
Building Size (RSF): 9,864 SF
Gross Building Area: See Agent
Sale Price: $750,000
Unit Price: $32,608.70 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 5/20/2019

Overview / Comments

Description
Emerald Lane Apartments is a 23-unit multifamily investment opportunity consisting of 411 square foot studio apartments located two blocks south of Kellogg on Emporia Street with easy access to downtown and I-135.

Highlights
Very efficient unit layouts with multiple closet spaces in each unit
Central HVAC with multiple AC units replaced in recent years
Built in 1976
Designated Parking
Onsite Laundry
Occupancy (April 2019) – 96%
2018 Taxes - $5,823.89
NOI (Proforma) - $56,267
Cap Rate – 7.50%

Attachments & Media

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Tax ID/APN: 087128280220501500
Percent Occupied: 96%
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1976
Laundry: Shared

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,262 132,531 252,087
Median Age: 31.97 32.94 33.64
Households: 5,153 53,557 102,849

Contact

Photograph of Listing Agent

Nathan Farha

NAI Martens
KSCRE Member
Photograph of Listing Agent

Jeff Englert

NAI Martens
KSCRE Member
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