Topeka Triplex with Rental
1500 SW Mulvane Street Topeka, KS 66604
1500 SW Mulvane Street, Topeka, KS, 66604
$199,900
Pending
For Sale
$199,900
Pending
MULTI_FAMILY - Topeka, KS
Property Size2,192 SF
Days on Market241
Property Features for 1500 SW Mulvane Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 1
- Basement
- Full, Unfinished
- Standard status
- Pending
- Size
- 2,192 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Please see Offer Instructions
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Building materials
- Frame
- Roof type
- Composition
Listing Agency
STEPHENS REAL ESTATE, INC
(785) 841-4500
600 Lawrence Ave, Lawrence, KS
Listed by
MARK HUMMEL
(785) 979-4281
Added: Nov 18, 2025 Checked: Jul 17 at 11:06 am
MLS# 164619
Listing URL
Copyright © 2026 Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This centrally located Topeka triplex presents an investor opportunity with immediate income potential. Two of the units are currently rented, while one vacant unit is ready for a new tenant. The property, located in the College Hill neighborhood near Washburn University, offers convenient access to downtown and local amenities. Two units have been remodeled, and the property features a new AC and furnace. The property size is 2192 square feet. This property offers strong rental upside.
Key Highlights
- Topeka triplex with 3 units total (2 rented and 1 vacant for a new tenant).
- Two units have been remodeled.
- New AC and furnace.
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 | $25.0k | $11.40 |
| − Vacancy | −$1.4k | −$0.63 |
| EGI | $23.6k | $10.77 |
| − OpEx | −$7.1k | −$3.23 |
| NOI | $16.5k | $7.54 |
2,192 SF · lease $11.40/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$236.1K
$206.6K – $275.5K
NOI $16,530 @ 7.0% cap · market cap 8.27%
Second Best
Apartment 5plus
$219.9K
$192.4K – $256.6K
NOI $15,393 @ 7.0% cap · market cap 7.70%
Theoretical Best
Self Storage
$247.3K
$216.4K – $288.5K
NOI $17,308 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Centrally located Topeka triplex with immediate income potential.
Where is this triplex located?
The property is located at 1500 SW Mulvane Street Topeka, KS.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Topeka triplex with 3 units total (2 rented and 1 vacant for a new tenant).; Two units have been remodeled.; New AC and furnace.
