Westwood Arms Apartments

Multi-Family for Sale
Catylist Listing ID: 30569253
Property Subtypes: Government Subsidized, Low-Rise/Garden
Number of Units: 36 Units
Building Size (RSF): 26,640 SF
Gross Land Area: 2.60 Acres
Sale Price: $1,300,000
Unit Price: $36,111.11 Per Unit
Property Use Type: Investment
Building Name: Westwood Arms Apartments
Sale Terms: Cash to Seller
Cap Rate: 8.3%
Last Updated: 3/18/2020

Overview / Comments

- Cap Rate is based on Proforma
- Section 8: Accomodates Section 8 housing and rent and deposit is based upon income
- Parking: 55 stalls
- Layouts: 1 bedroom, 1 bathroom - 571 sq. ft.; 2 bedroom, 1 bathroom - 766 sq. ft.; 3 bedroom, 1 bathroom - 1,033 sq. ft.

Westwood Arms Apartments is located within walking distance of shopping, dining, and recreation and recently went through a major renovation including installation of new windows, doors and energy efficient central heat and A/C systems generating lower energy bills.

Included as standard in every apartment is a kitchen equipped with an oven/range, refrigerator and double basin sink with disposal plus washer/dryer hookups, quality carpet, vinyl and blinds with sliding glass door accessing the rear patio area.

Westwood Arms also has onsite management Monday, Wednesday and Friday between 9:00 a.m. and 4:00 p.m. with 24/7 emergency maintenance on-call.

Additional Details

Nearest MSA: Wichita
County: Sumner
Tax ID/APN: 0961551501011003000
Percent Occupied: 100%
Total Number of Buildings: 6
Number of Stories: 2
Year Built: 1972
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,404 8,676 8,676
Median Age: 38.25 38.13 38.13
Households: 2,255 3,422 3,422

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