Three-Unit Residential Income
1105 Connecticut Street Lawrence, KS 66044
For Sale
$199,900
MULTI_FAMILY - Lawrence, KS
Property Size1,957 SF
Price / SF$102.15
Days on Market81
Property Features for 1105 Connecticut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 2
- Window features
- Wood Frames, Vinyl Frames
- Basement
- Full, Unfinished
- Standard status
- Active
- Size
- 1,957 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Please see Offer Instructions.
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Frame, Wood Siding
- Roof type
- Composition
Listing Agency:
STEPHENS REAL ESTATE, INC
(785) 841-4500
Listed By:
KEVIN PHENIX
(785) 691-6230
Added: May 7
Changed: Jul 25
Last Checked: Jul 26 at 2:06PM
MLS# 165596
Copyright © 2026 Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1900 and has been converted into three separate units. Two of the units offer 1 bedroom and 1 bathroom, and a spacious 2-bedroom, 1-bath unit is located on the second floor. Each unit includes its own laundry.
The property includes off-street parking accessed from the alley. A detached structure previously used as an accessory dwelling unit is also on site. The listing is for sale as-is, with inspections welcome and the seller making no repairs.
Additional terms noted by the seller include willingness to consider owner-financed offers. The property is located at 1105 Connecticut Street in Lawrence, Kansas, and the remarks indicate it is just blocks from downtown Lawrence and shopping, dining, and KU-related amenities.
The property includes off-street parking accessed from the alley. A detached structure previously used as an accessory dwelling unit is also on site. The listing is for sale as-is, with inspections welcome and the seller making no repairs.
Additional terms noted by the seller include willingness to consider owner-financed offers. The property is located at 1105 Connecticut Street in Lawrence, Kansas, and the remarks indicate it is just blocks from downtown Lawrence and shopping, dining, and KU-related amenities.
Key Highlights
- 1900‑built frame home with wood siding and a composition roof
- Converted into 3 separate units: two 1BD/1BA units and one 2BD/1BA unit on the second floor
- Each unit includes its own laundry
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.5k | $17.64 |
| − Vacancy | −$1.4k | −$0.71 |
| EGI | $33.1k | $16.93 |
| − OpEx | −$14.9k | −$7.62 |
| NOI | $18.2k | $9.31 |
1,957 SF · lease $17.64/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$277.4K
$242.7K – $323.6K
NOI $19,418 @ 7.0% cap · market cap 9.71%
Second Best
Apartment 5plus
$260.4K
$227.8K – $303.8K
NOI $18,227 @ 7.0% cap · market cap 9.12%
Theoretical Best
Retail
$575.9K
$503.9K – $671.9K
NOI $40,312 @ 7.0% cap · market cap 20.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Converted into three separate units with in-unit laundry and off-street parking accessed from the alley.
Where is this triplex located?
The property is located at 1105 Connecticut Street Lawrence, KS.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 1900‑built frame home with wood siding and a composition roof; Converted into 3 separate units: two 1BD/1BA units and one 2BD/1BA unit on the second floor; Each unit includes its own laundry
