Jacobs Apartments

Multi-Family for Sale
Catylist Listing ID: 30345613
Property Subtypes: Low-Rise/Garden
Building Status: Proposed
Number of Units: 10 Units
Building Size (RSF): 6,500 SF
Gross Building Area: See Agent
Sale Price: $340,000
Unit Price: $34,000 Per Unit
Property Use Type: Investment
Building Name: Jacobs Apartments
Sale Terms: Cash to Seller
Cap Rate: 11.09%
Average Occupancy Rate: 100
Last Updated: 4/15/2019

Overview / Comments

KW Commercial is pleased to present a 100% occupied, fully renovated, high yield multi family investment opportunity in downtown Wichita. Jacobs Apartments has undergone significant capital improvements which has allowed ownership to add significant value in their short time of ownership. The opportunity allows an investor a high yield opportunity at very affordable rent rates.

-100% Occupied
-New 2018 TPO Roof
-New Insulation, windows, electrical, plumbing, and HVAC
-Includes basement with W/D hookup
-Management available
-Near new hotel, Via Christi hospital, and excellent nearby neighbors
-Over $50,000 of CapEx in the last year

Financials

Finance Data Year 2018
Potential Rental Income $62,280 (Annual)
Gross Operating Income $54,040 (Annual)
Net Operating Income $34,854 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Wichita
County: Sedgwick
Tax ID/APN: 087125160330400600
Percent Occupied: 100%
Property Condition: Good
Number of Stories: 2
Parking Type: Surface
Laundry: Shared
Heat Type: Electricity, Natural Gas
Heat Source: Central
Fuel: Gas, Electric
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,325 123,959 237,911
Median Age: 31.95 33.36 33.91
Households: 5,394 50,325 97,298
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