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    Turnkey Apartment Complex in Kansas Title is generated by Realmo AI

    103 E 7th Ave, South Hutchinson, KS 67505

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    Claim this Listing
    For Sale
    $3,300,000

    MULTI_FAMILY - Other - South Hutchinson, KS

    Property size:
    24,408 SF
    Price / SF:
    $135/SF
    Added:
    Mar 9, 2026
    Days on Market:
    83
    Last Refresh:
    May 29 at 11:06 pm

    Property Features for 103 E 7th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    54
    Bathrooms
    36
    Rooms
    Bathroom 17, Bathroom 29, Bedroom 18, Bedroom 48, Bathroom 19, Bedroom 10, Bedroom 52, Bedroom 26, Bathroom 18, Bedroom 25, Bedroom 46, Bedroom 5, Bathroom 2, Bedroom 29, Bedroom 1, Bedroom 39, Bedroom 44, Bathroom 13, Bathroom 12, Bathroom 31, Bedroom 45, Bathroom 6, Bedroom 54, Bathroom 20, Bedroom 14, Bedroom 31, Bedroom 35, Bathroom 22, Bedroom 32, Bedroom 37, Bedroom 43, Bedroom 27, Bathroom 36, Bedroom 53, Bathroom 21, Bathroom 30, Bathroom 11, Bedroom 16, Bedroom 49, Bedroom 3, Bathroom 27, Bedroom 38, Bathroom 32, Bedroom 8, Bathroom 15, Bedroom 11, Bathroom 33, Bedroom 40, Bedroom 7, Bedroom 33, Bedroom 36, Bathroom 7, Bedroom 30, Bathroom 23, Bathroom 8, Bedroom 41, Bedroom 6, Bathroom 5, Bathroom 16, Bedroom 21, Bedroom 22, Bedroom 15, Bedroom 34, Bathroom 35, Bathroom 34, Bathroom 9, Bathroom 25, Bathroom 28, Bedroom 17, Bedroom 19, Bedroom 12, Bathroom 26, Bedroom 9, Bedroom 20, Bedroom 28, Bathroom 3, Bathroom 14, Bedroom 51, Bathroom 4, Bedroom 50, Bedroom 2, Bedroom 42, Bedroom 23, Bathroom 1, Bedroom 47, Bathroom 10, Bedroom 24, Bedroom 4, Bathroom 24, Bedroom 13
    Parking features
    On Street
    Basement
    Concrete, Finished
    Appliances
    Disposal, Electric Oven, Refrigerator, Smoke/Heat/CoDetector
    Standard status
    Active
    APN
    1262402021002000
    Size
    24,408 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    PUTERBAUGH, S24, T23, R06W, W/2 LOT 18 & ALL LOTS 19-26 BLK 1 & VAC ST & ALLEY
    Tax Annual Amount
    20574

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1967
    Floors in Building
    2
    Number of units
    36
    Building materials
    Brick, Frame, Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Shane Pullman

    Listing agent Shane Pullman

    Listing office Berkshire Hathaway PenFed Realty KS

    Listing date Mar 9, 2026

    MLS# 54353 Listing URL

    Copyright © 2026 Mid-Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turnkey 36‑unit apartment complex with strong rental performance.
    • Ideally located near major area employers, providing stable tenant demand.
    • Spacious unit layouts, larger than many competing properties.
    • Recent exterior improvements including a newer roof, replacement siding, and concrete parking areas.
    • Brand‑new in‑ground swimming pool, an attractive amenity for tenants.
    • Clubhouse building presents additional upside potential.

    Overview

    This 36-unit apartment complex in South Hutchinson, Kansas, presents an opportunity for acquisition, offering rental performance and a consistent income history. The property is located near major area employers, providing access to employment centers, shopping, and services. The complex features unit layouts that are larger than many competing properties in the area, which may appeal to tenants and improve retention. Exterior improvements have been completed, including a newer roof, replacement siding, and concrete parking areas. A standout amenity is the in-ground swimming pool. Each pair of units on a single floor shares an HVAC system and water heater. The property also includes a clubhouse building that presents additional upside potential, offering the opportunity to remodel the space into a tenant amenity area such as a fitness room or community lounge, or convert it into an additional two-bedroom unit to further increase rental income. The property size is 24408 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Hutchinson
    County
    Reno
    State
    Kansas
    Longitude
    -97.938408
    Latitude
    38.036036

    Nearby Similar for Sale

    • Contact for pricing

      South Hutchinson Manufactured Housing Community

      64-space community with significant infill and revenue upside.
      108 West 5th Avenue, South Hutchinson, KS 67501
      View Details
    • $3,300,000
      24,398 SF

      South Hutchinson Multifamily Investment

      24,398 SF multifamily property with 36 units in South Hutchinson.
      103 East 7th Avenue, South Hutchinson, KS 67505
      View Details
    • Contact for pricing

      64-Space Manufactured Housing Community

      Value-add opportunity in South Hutchinson, Kansas.
      108 E 5th Ave, South Hutchinson, KS 67505
      View Details

    FAQs

    What type of property is this?
    Apartment building - 36-unit apartment complex with strong rental performance and consistent income.
    Where is this apartment building located?
    The property is located at 103 E 7th Ave South Hutchinson, KS.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: Turnkey 36‑unit apartment complex with strong rental performance.; Ideally located near major area employers, providing stable tenant demand.; Spacious unit layouts, larger than many competing properties.
    (316) 640-7375
    We can help!
    Listing Contact
    Shane Pullman
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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