Two Triplex Multi-Family
6501 East Morris Street Unit 6 Wichita, KS 67207
6501 East Morris Street Unit 6, Wichita, KS, 67207
$239,900
For Sale
$239,900
All-brick triplexes with basements and newly replaced roofs, currently fully occupied and generating rental income.
Property Size1,925 SF
Price / SF$124.62
Days on Market2460
Property Features for 6501 East Morris Street Unit 6
General Information
- Standard status
- Active
- Size
- 1,925 SF
- Property subtype
- Multi-Family / Triplex
Building Details
- Year Built
- 1951
Listing agency
JPAR-Leading Edge
(316) 737-5878
Listed by
Travis Dorion · License #00244645
Source
Compass
Added: Oct 28, 2019 Updated: Jul 22 at 10:50AM Checked: Jul 22 at 10:50AM
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 JPAR-Leading Edge
Investment Insights
Based on property information with market context.
For sale: two triplex multi-family buildings offered together. Each building features all-brick construction, basements, and brand new roofs. All units are occupied and producing rental income.
The two properties are located at 6501 E. Morris Street and 814 S. Mission Rd. The seller prefers to sell the two triplexes together, but may consider separating with an acceptable offer.
The seller describes the opportunity as value-add, noting that rents are substantially low and could potentially be increased with some renovation of a few units. All information is provided as believed accurate, but not guaranteed.
The two properties are located at 6501 E. Morris Street and 814 S. Mission Rd. The seller prefers to sell the two triplexes together, but may consider separating with an acceptable offer.
The seller describes the opportunity as value-add, noting that rents are substantially low and could potentially be increased with some renovation of a few units. All information is provided as believed accurate, but not guaranteed.
Key Highlights
- Two triplex buildings offered together, with addresses at 6501 E. Morris and 814 S. Mission Rd.
- All‑brick construction with basements in both buildings.
- Brand new roof replacements reported for both buildings.
Local Financial Insights For Multifamily LT 5
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 | $23.6k | $12.24 |
| − Vacancy | −$1.0k | −$0.53 |
| EGI | $22.5k | $11.71 |
| − OpEx | −$6.8k | −$3.51 |
| NOI | $15.8k | $8.19 |
1,925 SF · lease $12.24/SF/yr · vacancy 4.37% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$225.3K
$197.2K – $262.9K
NOI $15,773 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$200.9K
$175.8K – $234.3K
NOI $14,060 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$415.5K
$363.6K – $484.7K
NOI $29,084 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - All-brick triplexes with basements and newly replaced roofs, currently fully occupied and generating rental income.
Where is this triplex located?
The property is located at 6501 East Morris Street Unit 6 Wichita, KS.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two triplex buildings offered together, with addresses at 6501 E. Morris and 814 S. Mission Rd.; All‑brick construction with basements in both buildings.; Brand new roof replacements reported for both buildings.
