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    1102 N 4th Street Lansing, KS 66043

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    For Sale
    $600,000

    MULTI_FAMILY - Lansing, KS

    Type:Apartment
    Lot size:
    0.34 Acres
    Added:
    Jul 18, 2025
    Days on Market:
    294
    Last Refresh:
    May 7 at 3:06 pm

    Property Features for 1102 N 4th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Zoning
    R
    Bathrooms
    2
    Rooms
    Bathroom 2, Bathroom 1
    Parking
    6
    Parking features
    Off Street
    Exterior features
    Private Entrance
    Standard status
    Active
    APN
    094-18-0-30-03-004.00-0
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Description
    GRIGGS RPLT BK6TWNRCHMND, LT4 & ABAN RR ROW ADJ (SCALED)
    Tax Annual Amount
    4536

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Natural Gas
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1978
    Floors in Building
    2
    Number of units
    6
    Building materials
    Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Trisha Alton

    Listing agent Trisha Alton License #SP00223822

    Listing office Realty Executives 11405 Ash, Leawood, KS

    Listing date Jul 18, 2025

    MLS# 2564143 Listing URL

    Copyright © 2026 Heartland Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully rented 13‑unit portfolio ensures immediate income.
    • Strong rental history with long‑term tenants indicates stability.
    • Solid cash flow provides a reliable return on investment.
    • Two well‑maintained multifamily buildings minimize potential maintenance issues.
    • Mix of studio, 1- and 2‑bedroom units attracts a diverse tenant base.
    • Separate utilities and off‑street parking enhance tenant appeal.

    Overview

    Fully Rented Multifamily Portfolio

    This is an exceptional opportunity to acquire a fully rented 13-unit portfolio. The portfolio consists of two well-maintained multifamily buildings, one with 6 units and the other with 7 units. The properties have a strong rental history with long-term tenants and solid cash flow. The units include a mix of studio, one-bedroom, and two-bedroom layouts. The buildings feature separate utilities and off-street parking. The properties are located in Lansing, Kansas, and offer easy access to local amenities. The total lot size is 0.3356 acres. The zoning is R. This portfolio is ideal for investors seeking stable income and portfolio growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Lansing
    County
    Leavenworth
    State
    Kansas
    Longitude
    -94.896167
    Latitude
    39.266015

    Nearby Similar for Sale

    • $600,000

      Lansing Multifamily Investment Opportunity

      Fully rented 13-unit portfolio with strong rental history.
      1100 N 4th Street, Lansing, KS 66043
      View Details
    • $110,000
      2,412 SF

      Retail Space in Lansing, Kansas

      Retail space available for sale in Lansing, Kansas.
      391 N Main St, Lansing, KS 66043
      View Details

    FAQs

    What type of property is this?
    Apartment building - Thirteen units in two buildings with strong rental history.
    Where is this apartment building located?
    The property is located at 1102 N 4th Street Lansing, KS.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Fully rented 13‑unit portfolio ensures immediate income.; Strong rental history with long‑term tenants indicates stability.; Solid cash flow provides a reliable return on investment.
    (913) 683-9535
    We can help!
    Listing Contact
    Trisha Alton
    Real Estate License ID: SP00223822
    Learn More
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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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