McCurdy Auction - Thursday, September 16th, 2021 at 3:00 PM

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30757823
Status: Pending
Number of Units: 34 Units
Building Size (RSF): 31,750 SF
Gross Building Area: See Agent
Gross Land Area: 1 - 2 Acres
Sale Price: See Agent
Property Use Type: Investment, Business
Building Name: Golf Park Apartments
Usable Size (USF): 31,750 SF
Sale Terms: Other
Up For Auction: Yes
Auction Type: Undisclosed Reserve
Cap Rate: Undisclosed
Last Updated: 9/17/2021

Overview / Comments

ONLINE ONLY!!! Offering a 34 unit apartment complex located near the corner of Harry and Oliver! This property sits across the street from Clapp Memorial Park, offering you a nice scenic view. There are (24) 2 bedroom units and (10) 3 bedroom units, providing you a total possible monthly income of over $21,000. Currently, all of the units are tenant-occupied except for five units. 

4 buildings with a total square footage of 31,750
On 1.52 Acres
On-site parking
Built-in 1983
Located just a few miles from Downtown Wichita
Tenants pay all utilities except for trash removal
All upper units have a balcony with all the main floor units having a patio area
Separate laundry room off the kitchen with washer & dryer hookups
Galley style kitchen
Kitchen/dining combination
Each unit has 2 bathrooms, one with a tub/shower combination and one with a walk-in shower
A lot of the units have been updated 
Current monthly income is approximately $19,013.33 with an annual income of approximately $228,156.00
A total of $13,700.00 in security deposits
Although many of the long-term tenants have lower rents, the more current rent has been $750 for a 3 bedroom and $650 for a 2 bedroom. Current rental rates when calculated throughout all the units would provide a realistic future potential in excess of $270,000 per year

Unbelievable investment opportunity to purchase the Golf Park Apartments!!!
Property offered at ONLINE ONLY auction. | 10% Buyer's Premium will be added to the final bid. | BIDDING OPENS: Tuesday, August 31st, 2021 at 2:00 PM (cst) | BIDDING CLOSES: Thursday, September 16th, 2021 at 3:00 PM) (cst).  Bidding will remain open on this property until 1 minute has passed without receiving a bid. Property available to preview by appointment. $100,000 anticipates closing on or before 30 days from the date of sale. A 45-day close is available at the discretion of the purchaser with a deposit of $150,000 in earnest money at the time of contracting.

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Tax ID/APN: 087127360220301300A
Percent Occupied: 90%
Total Number of Buildings: 4
Property Condition: Good
Number of Stories: 2
Year Built: 1983
Construction/Siding: Brick
Parking Ratio: 68 (per 1000 SF)
Parking Type: Surface
Parking Description: 2 per unit
Total Parking Spaces: 68
Laundry: In Each Unit
Heat Type: Natural Gas
Heat Source: Central
Fuel: Gas
Air Conditioning: Engineered System
Zoning Description: GO General Office
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,333 105,166 241,601
Median Age: 32.7 33.08 33.51
Households: 7,392 43,483 96,988


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