Multifamily Housing - For Sale
1740 North Minneapolis Street Wichita, KS 67214
Details & Description
Price: $975,000
  • Property Type Multifamily for Sale
  • Lot Size Acres 0.877
  • Building Sq Ft 15,540
  • Building Price per Sq Ft $62.74
  • Land Sq Ft 38,199
  • Land Price per Sq Ft $25.52
  • NOI $35,421
  • CAP Rate % 3.60
Great investment opportunity! Over 90% occupied and ready to make you money! All 24 units are 3 bedrooms putting them at $40.6K a unit! Over the last 2-3 years 40K worth of make ready repairs have been made including water heaters, air conditioners, plumbing, electrical, and more. Currently at a gross yearly income of $131,460 with the opportunity of $144,000 at full capacity. Owner owns all appliances at the moment including window units. Tenants pay gas, electric, and $30 water fee. Owner pays water and trash as well as lawn maintenance. Parking is paved and provides 1 spot per unit as well as street parking.Preapproval/POF required for showings, common and vacant units shown only. Title company to be Kansas Secured Title. Current PM company charges $30/mo water charge but owner pays the water bill. Tenants responsible for window units, all current units are owned by owner. Each unit has its own gas powered furnace. Owner owns all appliances. Selling agent responsible for personally verifying schools, measurements, and tax information. Please submit all offers to HollyHaws@kw.com. Escrow Instructions: Buyer and Seller understand Earnest Money will be held by Buyer Representative until offer acceptance by all parties. Within 5 business days of Effective date, Buyers Representative will deliver earnest money to Escrow Agent.
Additional Photos
Listing Agents
Holly Haws

Team@hrtwichita.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

1740 North Minneapolis Street

Wichita, KS 67214

Listing ID: 203005
$975,000
For Sale
  • Property Type Multifamily for Sale
  • Lot Size Acres 0.877
  • Building Sq Ft 15,540
  • Building Price per Sq Ft $62.74
  • Land Sq Ft 38,199
  • Land Price per Sq Ft $25.52
  • NOI $35,421
  • CAP Rate % 3.60
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Description

Great investment opportunity! Over 90% occupied and ready to make you money! All 24 units are 3 bedrooms putting them at $40.6K a unit! Over the last 2-3 years 40K worth of make ready repairs have been made including water heaters, air conditioners, plumbing, electrical, and more. Currently at a gross yearly income of $131,460 with the opportunity of $144,000 at full capacity. Owner owns all appliances at the moment including window units. Tenants pay gas, electric, and $30 water fee. Owner pays water and trash as well as lawn maintenance. Parking is paved and provides 1 spot per unit as well as street parking.

Preapproval/POF required for showings, common and vacant units shown only. Title company to be Kansas Secured Title. Current PM company charges $30/mo water charge but owner pays the water bill. Tenants responsible for window units, all current units are owned by owner. Each unit has its own gas powered furnace. Owner owns all appliances. Selling agent responsible for personally verifying schools, measurements, and tax information. Please submit all offers to HollyHaws@kw.com. Escrow Instructions: Buyer and Seller understand Earnest Money will be held by Buyer Representative until offer acceptance by all parties. Within 5 business days of Effective date, Buyers Representative will deliver earnest money to Escrow Agent.

Attachments & Files
Points of Interest & Demographic Radii
Points of Interest
Demographic Radii
POIs provided for entertainment purposes only. Data comes from multiple data sources as well as users and agents. MyEListing makes no claims whatsoever as to the accurancy and/or completeness.
 
Wichita History of Multifamily Housing for Sale

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Wichita Area Market Trends

Listing Demographics for 1740 North Minneapolis Street Wichita, KS 67214

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population8,76784,130210,296
Population Median Age343537
Population by Age0-9 Yrs1424 (16%)11874 (14%)30006 (14%)
10-19 Yrs1557 (17%)12533 (14%)27707 (13%)
20-29 Yrs1198 (13%)14680 (17%)34116 (16%)
30-39 Yrs1003 (11%)11846 (14%)28346 (13%)
40-49 Yrs1203 (13%)9329 (11%)23204 (11%)
50-59 Yrs846 (9%)9059 (10%)24327 (11%)
60-69 Yrs842 (9%)8546 (10%)23223 (11%)
70+ Yrs694 (7%)6265 (7%)19367 (9%)
Median HH Income$25,316$40,497$43,059
Total Household Income< 24K1697 (49%)10922 (32%)24736 (28%)
25-49K1064 (31%)9099 (27%)24048 (27%)
50-74K392 (11%)6069 (18%)15564 (18%)
75-99K104 (3%)3518 (10%)8915 (10%)
100-199K156 (4%)3431 (10%)10365 (12%)
200K+16 (0%)632 (1%)2304 (2%)
Highest Education LevelNo Diploma1197929419934
Diploma or GED15821360636526
Some College15511221232650
Assoc. Degree28335949567
Bachelors Degree367799323168
Higher Degree119535013512
Total Housing Units4,34440,35999,443
--Owner-Occupied1,30216,04743,568
--Renter-Occupied2,12817,62542,364
Owner-Occupied Values< 100K1187885821646
100-199K94564415510
200-299K109373355
300-399K62161268
400-499K0163651
500K+62281139
Total Working Age Population6,42364,360163,430
In Work Force3,76842,083105,670
Not In Work Force2,65522,27757,761
Workforce Employed3,10338,70998,403
Workforce Unemployed6603,2346,890
Civlian Workforce3,76341,943105,293
Military Workforce5140377
Total Households3,43033,67185,932
Family Households1,65617,36146,644
Non-Family Households1,77416,31139,288
Married Couple56410,54930,554
Other Family1,0916,81116,091
Married w/Child2274,71312,372
Single Male w/Child1977751,982
Single Female w/Child4823,4207,454

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Kansas2,688,418+62,853,118+52,988,194+53,140,008
Sedgwick County452,869+10498,365+6530,232+7565,494

Total Working Age Population:

Total Households:

Total Working Age Population:

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No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

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Closest Commercial Airports
Airport Distance (mi)
Wichita Eisenhower National Airport (ICT) 8
Tulsa International Airport (TUL) 131
Joplin Regional Airport (JLN) 159