McCORMICK APARTMENTS

Multi-Family for Sale
Catylist Listing ID: 30268699
Property Subtypes: Low-Rise/Garden, Mid-Rise
Number of Units: 24 Units
Building Size (RSF): 19,024 SF
Sale Price: $900,000
Unit Price: $37,500 Per Unit
Property Use Type: Investment
Building Name: McCormick Apartments
Sale Terms: Other
Average Occupancy Rate: 100
Last Updated: 12/17/2018

Overview / Comments

-Located in stable neighborhood with well-maintained single-family residences.
-Close proximity to Newman University, Friends University, Central Business District and industrial employment district on South West Street.
-Rent upside with existing leases.
-Approximately 20,000 cars per day at Meridian & McCormick.
-Units are all electric.
-Recent capital improvements—parking lot resurfacing, stairways, and exterior paint.
-New electrical boxes and new electrical disconnects for Zoneline HVAC.
-Through-the-wall Zoneline - all electric heating and cooling.
-Owner pays water/sewer, trash and cable TV.
-Tenant pays electric.

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Zoning: LIMITED COMMERCIAL
Percent Occupied: 100%
Total Number of Buildings: 2
Number of Stories: 2
Year Built: 1977
Parking Type: Surface
Heat Type: Electricity

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,072 106,352 242,022
Median Age: 31.86 33.55 33.65
Households: 5,705 43,710 97,377
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