46-Unit Apartment Building
For Sale
Contact for pricing
Pending
509 Cherry Ln, Newton, KS 67114
Forty-six-unit multifamily property with washer/dryer hookups and recent unit updates, with owner-paid water and trash.
Days on Market112
Property Features for 509 Cherry Ln
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Multifamily Units
46
Amenities
washer/dryer hookups
Building Details
Tenancy
Multi
Listing Agency:
Waller Group Homes
(214) 818-4109
Listed By:
Logan Waller · License #TX 0479147
Source:
Crexi
Added: Apr 10
Changed: Jul 22
Last Checked: Jul 29 at 2:52PM
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 Waller Group Homes
Investment Insights
Based on property information with market context.
This 46-unit apartment building is positioned as an add-value residential income property. The current owner purchased the asset in 2011 and has completed several improvements, including new low-flow toilets in all units as part of a water conservation program. Additional updates include new paint and carpet in 12 units. Units are also equipped with washer/dryer hookups, and the owner currently pays for water and trash.
The property is located near Plumbrook Park and Ashbury Park, as well as Newton Country Club.
For additional renovation incentives, the building may be eligible for the Neighborhood Revitalization Program, which provides tax credits for renovating properties around Newton, with more information available on the city website. The owner will continue managing the property after closing for 6% of gross rent collected.
The property is located near Plumbrook Park and Ashbury Park, as well as Newton Country Club.
For additional renovation incentives, the building may be eligible for the Neighborhood Revitalization Program, which provides tax credits for renovating properties around Newton, with more information available on the city website. The owner will continue managing the property after closing for 6% of gross rent collected.
Key Highlights
- 46‑unit multifamily property with washer/dryer hookups in the units
- Recent unit improvements include new low‑flow toilets in all units as part of a water conservation program
- New paint and carpet installed in 12 units
Property Analytics
Current Use
Lease Details
46
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 67114, KS
21,375
Population
9,382
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
91%
High-School Grad
236.9 sq mi
ZIP Area
90
Density / Sq Mi
$68,393
Median Household Income
$39,617
Median Earnings
$909
Median Rent
$164,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Forty-six-unit multifamily property with washer/dryer hookups and recent unit updates, with owner-paid water and trash.
Where is this apartment building located?
The property is located at 509 Cherry Ln Newton, KS.
What are key features of this property?
This property features: 46‑unit multifamily property with washer/dryer hookups in the units; Recent unit improvements include new low‑flow toilets in all units as part of a water conservation program; New paint and carpet installed in 12 units
