Par Lane Fourplexes

Multi-Family for Sale
Catylist Listing ID: 30298722
Property Subtypes: Duplex/Fourplex
Number of Units: 24 Units
Building Size (RSF): 20,400 SF
Sale Price: $1,200,000
Unit Price: $50,000 Per Unit
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: 8.3%
Last Updated: 11/19/2018

Overview / Comments

• 24 units - 2 bedroom/1 bathroom (850 SF)

• Built in 1980

• Unit amenities: Washer/dryer hookups, Dishwashers, Fireplaces

• Rents: $650/month on renovated units and $550/month on un-renovated units

• Tenant pays all utilities, including water

• Recently began renovating units with new counter tops, painting cabinets/trim, new flooring and light fixtures. Three units have been completed.

•Recent Capital Improvements: siding repairs, deck repairs, exterior painting and roof replacement

2017 Taxes: $7,344
Price: $1,200,000
Proforma NOI: $99,735
Cap Rate: 8.3%
Gross Rent Multiplier: 7.4

Attachments & Media

Additional Details

Nearest MSA: Wichita
County: Sedgwick

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,393 90,388 188,850
Median Age: 35.36 37.77 35.86
Households: 6,079 36,692 74,508


Photograph of Listing Agent

Nathan Farha

NAI Martens
KSCRE Member
Photograph of Listing Agent

Jeff Englert

NAI Martens
KSCRE Member
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