Miller's Crossing

Multi-Family for Sale
Catylist Listing ID: 30331260
Property Subtypes: Low-Rise/Garden
Number of Units: 46 Units
Building Size (RSF): 31,800 SF
Gross Building Area: See Agent
Gross Land Area: 3.10 Acres
Sale Price: $1,300,000
Unit Price: $28,260.87 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 9/24/2018

Overview / Comments

46 unit low-rise/garden multifamily complex in Newton, KS. Local ownership purchased this property in 2011 and has completed a number of significant improvements to the property. Miller’s Crossing has had a 4 year average of 90% occupancy and is currently sitting at a occupancy rate of 95%. Miller’s Crossing can be considered for the Neighborhood Revitalization Program, which issues tax credits for renovating properties around Newton, KS. Ownership also has for a sale Studios @ 501- a 21 unit, 95% occupied, mid-rise complex in Downtown Newton that could be included as a package deal.

-Half the roofs replaced in 2012
-One-third of units refurbished including new windows and AC units
-All new low flow toilets installed in 2016
-New exterior paint and new carpet and paint in twelve units completed in 2017
-Value Add Opportunity through renovation completion and raising rents

Attachments & Media

Additional Details

Nearest MSA: Wichita
County: Harvey
Percent Occupied: 90%
Year Built: 1975

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Photograph of Listing Agent

Trent Garman

NAI Martens
KSCRE Member
Photograph of Listing Agent

Jeff Englert

NAI Martens
KSCRE Member
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