10-Unit Apartment
1701 E 24th Ave, Hutchinson, KS 67502
For Sale
$880,000
Residential Income, Hutchinson, KS
Property Size7,192 SF
Price / SF$122.36
Days on Market249
Property Features for 1701 E 24th Ave
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Security features
Basement
Appliances
Lot features
Elementary school
Middle school
High school
Elementary school district
Subdivision
Standard status
APN
Size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
Berkshire Hathaway PenFed Realty
(316) 636-2323
Listed By:
Shane Pullman
(316) 640-7375
Added: Mar 9
Changed: Nov 9
Last Checked: Nov 12 at 8:06AM
MLS# 54350
Copyright © 2026 Mid-Kansas MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10-unit apartment property contains 7,192 square feet and was built in 1986. Recent work includes replacement windows, siding and roofing, along with updates to multiple mechanical systems. The property also has six garage spaces with private exterior access, separate from the apartments. Central natural-gas heating, electric cooling, public water and public sewer serve the building. Appliances include dishwashers, disposals, electric ovens, refrigerators and gas water heaters.
The apartments are fully leased, and the property is near Hutchinson’s medical corridor. Tenants reimburse utilities, and the garages can be rented separately from the residential units.
The apartments are fully leased, and the property is near Hutchinson’s medical corridor. Tenants reimburse utilities, and the garages can be rented separately from the residential units.
Key Highlights
- 10 apartments, fully leased
- 7,192 square feet; built in 1986
- Six garage spaces with private exterior access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,714
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$894,280
$894.3K
Cap Rate 7%
$638,771
$638.8K
Cap Rate 9%
$496,822
$496.8K
Market Conditions
NOI Build-Up for 7,192 SF
Gross rent
$86.3K $12.00/SF
− Vacancy
−$5.0K −$0.70/SF
EGI
$81.3K $11.30/SF
− OpEx
−$36.6K −$5.09/SF
NOI
$44.7K $6.22/SF
Area
Reno County, KS
Vacancy
5.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$894,280
Cap Rate 7%
$638,771
Cap Rate 9%
$496,822
Alternative Uses
Best Use
Apartment 5plus
$638.8K
$558.9K – $745.2K
NOI $44,714 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,908 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
10
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
695
Businesses Nearby
Explore this area
Business Placement
Demographics for 67502, KS
23,770
Population
10,868
Households
2.2
Avg Household Size
46
Median Age
30%
College-Educated
96%
High-School Grad
73.3 sq mi
ZIP Area
324
Density / Sq Mi
$73,192
Median Household Income
$42,541
Median Earnings
$919
Median Rent
$178,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Apartment buildings in Reno County, KS
Properties on Market for Apartment buildings in Reno County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased apartments include separate garage space and recent building-system improvements.
Where is this apartment building located?
The property is located at 1701 E 24th Ave Hutchinson, KS.
What is the asking price?
The asking price for this property is $880,000.
What are key features of this property?
This property features: 10 apartments, fully leased; 7,192 square feet; built in 1986; Six garage spaces with private exterior access
