South Hutchinson Multifamily
103 East 7th Avenue South Hutchinson, KS 67505
103 East 7th Avenue, South Hutchinson, KS, 67505
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For Sale
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24,398 SF multifamily property with 36 units in South Hutchinson.
Property Size24,398 SF
Price / SF$120.91
Days on Market134
Property Features for 103 East 7th Avenue
General Information
- Standard status
- Active
- Size
- 24,398 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1967
Listing agency
Berkshire Hathaway HomeServices PenFed Realty Wichita
Listed by
Shane Pullman · License #KS SP00241192
Source
Crexi
Added: Mar 10 Updated: Jul 6 at 12:00PM Checked: Jul 20 at 5:38AM
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
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.
Local 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 | $292.8k | $12.00 |
| − Vacancy | −$17.0k | −$0.70 |
| EGI | $275.8k | $11.30 |
| − OpEx | −$124.1k | −$5.09 |
| NOI | $151.7k | $6.22 |
24,398 SF · lease $12.00/SF/yr · vacancy 5.80% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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.
