South Hutchinson Multifamily
For Sale
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103 East 7th Avenue, South Hutchinson, KS 67505
24,398 SF multifamily property with 36 units in South Hutchinson.
Property Size24,398 SF
Price / SF$120.91
Days on Market242
Property Features for 103 East 7th Avenue
General Information
Standard status
Active
Size
24,398 SF
Property subtype
Multifamily
Occupancy
97%
Net Operating Income
$171,246
Building Details
Year Built
1967
Year Renovated
2013
Buildings
2
Stories
3
Units
36
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty Wichita
Listed By:
Shane Pullman · License #KS SP00241192
(316) 262-0000
Source:
Crexi
Added: Mar 10
Changed: Oct 25
Last Checked: Nov 4 at 1:51PM
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 Berkshire Hathaway HomeServices PenFed Realty Wichita
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Investment Insights
Based on property information with market context.
Located in South Hutchinson, KS, this multifamily property encompasses 24,398 square feet and features 36 units. Constructed in 1967, the property underwent renovations in 2019. It is zoned R-4 and maintains a 90% occupancy rate. This property is intended for multifamily and high-rise investors seeking an income-generating asset.
Key Highlights
- 36‑unit multifamily property offers substantial income potential.
- High occupancy rate of 90% indicates strong tenant demand and consistent cash flow.
- Renovated in 2019, providing modern amenities and reduced maintenance costs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$151,687
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,033,740
$3.0M
Cap Rate 7%
$2,166,957
$2.2M
Cap Rate 9%
$1,685,411
$1.7M
Market Conditions
NOI Build-Up for 24,398 SF
Gross rent
$292.8K $12.00/SF
− Vacancy
−$17.0K −$0.70/SF
EGI
$275.8K $11.30/SF
− OpEx
−$124.1K −$5.09/SF
NOI
$151.7K $6.22/SF
Area
Reno County, KS
Vacancy
5.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,033,740
Cap Rate 7%
$2,166,957
Cap Rate 9%
$1,685,411
Alternative Uses
Best Use
Apartment 5plus
$2.17M
$1.90M – $2.53M
NOI $151,687 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.94M
$4.32M – $5.76M
NOI $345,710 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
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Business Placement
Demographics for 67505, KS
2,538
Population
1,294
Households
2
Avg Household Size
49
Median Age
13%
College-Educated
90%
High-School Grad
2.8 sq mi
ZIP Area
906
Density / Sq Mi
$42,306
Median Household Income
$45,825
Median Earnings
$555
Median Rent
$149,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 24,398 SF multifamily property with 36 units in South Hutchinson.
Where is this apartment building located?
The property is located at 103 East 7th Avenue South Hutchinson, KS.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 36‑unit multifamily property offers substantial income potential.; High occupancy rate of 90% indicates strong tenant demand and consistent cash flow.; Renovated in 2019, providing modern amenities and reduced maintenance costs.
