Four-Duplex Multifamily
For Sale
$254,900
1019 N Spruce Ave, Wichita, KS 67214
Fully leased multifamily package with open-plan units, attached garages, and impact-resistant roofing.
Property Size2,100 SF
Price / SF$121.38
Days on Market99
Property Features for 1019 N Spruce Ave
General Information
Standard status
Active
Size
2,100 SF
Total Parking Spaces
8
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$1,974
Building Details
Buildings
4
Listing Agency:
Keller Williams Signature Partners, LLC
(316) 681-3600
Listed By:
Randy Ambrose · License #00050774B
(316) 312-3079
Source:
Exprealty
Added: Jul 11
Changed: Oct 11
Last Checked: Oct 16 at 12:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Signature Partners, LLC
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Investment Insights
Based on property information with market context.
This multifamily offering combines four duplexes in a single package, with all units currently leased. Each residence includes an open-concept arrangement connecting the living, dining, and kitchen areas, along with three bedrooms and two bathrooms. Granite countertops provide a consistent finish throughout the units, while insulated attached single-car garages support resident convenience and storage. The properties also feature durable 50-year impact-resistant roofs designed for long-term performance.
Located at 1019 N Spruce Ave in Wichita, Kansas, the portfolio is positioned as a fully occupied residential income property with established leasing in place. The package format provides multiple duplex buildings under one offering, while the repeated unit layouts and shared construction features create consistency across the portfolio.
Located at 1019 N Spruce Ave in Wichita, Kansas, the portfolio is positioned as a fully occupied residential income property with established leasing in place. The package format provides multiple duplex buildings under one offering, while the repeated unit layouts and shared construction features create consistency across the portfolio.
Key Highlights
- Four duplexes offered together as one multifamily package
- All units are fully leased
- Each unit includes three bedrooms and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,318
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,360
$346.4K
Cap Rate 7%
$247,400
$247.4K
Cap Rate 9%
$192,422
$192.4K
Market Conditions
NOI Build-Up for 2,100 SF
Gross rent
$26.5K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.7K $11.78/SF
− OpEx
−$7.4K −$3.53/SF
NOI
$17.3K $8.25/SF
Area
Wichita, KS
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,360
Cap Rate 7%
$247,400
Cap Rate 9%
$192,422
Alternative Uses
Best Use
Multifamily LT 5
$247.4K
$216.5K – $288.6K
NOI $17,318 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$230.1K
$201.4K – $268.5K
NOI $16,110 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$520.0K
$455.0K – $606.6K
NOI $36,398 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
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Business Placement
Demographics for 67214, KS
15,936
Population
8,197
Households
1.9
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
5.3 sq mi
ZIP Area
3,007
Density / Sq Mi
$36,636
Median Household Income
$25,518
Median Earnings
$752
Median Rent
$72,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Fully leased multifamily package with open-plan units, attached garages, and impact-resistant roofing.
Where is this duplex located?
The property is located at 1019 N Spruce Ave Wichita, KS.
What is the asking price?
The asking price for this property is $254,900.
What are key features of this property?
This property features: Four duplexes offered together as one multifamily package; All units are fully leased; Each unit includes three bedrooms and two bathrooms
