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    Hutchinson Multifamily Investment Opportunity Title is generated by Realmo AI

    1710 E 24th Ave, Hutchinson, KS 67502

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    For Sale
    $1,500,000

    MULTI_FAMILY - Other - Hutchinson, KS

    Property size:
    11,152 SF
    Price / SF:
    $134/SF
    Added:
    Mar 9, 2026
    Days on Market:
    69
    Last Refresh:
    May 16 at 4:06 pm

    Property Features for 1710 E 24th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    28
    Bathrooms
    24
    Rooms
    Bathroom 18, Bedroom 27, Bathroom 7, Bathroom 22, Bedroom 1, Bedroom 10, Bedroom 24, Bathroom 23, Bathroom 9, Bathroom 5, Bedroom 2, Bathroom 19, Bedroom 15, Bedroom 19, Bedroom 16, Bedroom 11, Bathroom 3, Bedroom 18, Bathroom 1, Bedroom 23, Bathroom 10, Bathroom 11, Bedroom 8, Bedroom 21, Bathroom 13, Bedroom 5, Bedroom 12, Bathroom 8, Bathroom 14, Bedroom 20, Bathroom 6, Bathroom 4, Bathroom 17, Bedroom 3, Bedroom 22, Bathroom 15, Bedroom 17, Bathroom 16, Bedroom 4, Bathroom 20, Bedroom 25, Bathroom 12, Bathroom 2, Bedroom 26, Bedroom 7, Bedroom 28, Bedroom 14, Bedroom 6, Bathroom 21, Bedroom 13, Bathroom 24, Bedroom 9
    Parking features
    On Street, Carport
    Security features
    Security Lighting
    Basement
    Crawl Space
    Appliances
    Dishwasher, Disposal, Electric Oven, Refrigerator, Electric Water Heater, Smoke/Heat/CoDetector
    Standard status
    Active
    APN
    1330501004009000
    Size
    11,152 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    COVENTRY, S05, T23, R05W, BLOCK A, Lot 8
    Tax Annual Amount
    19361

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Electric
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    2
    Number of units
    12
    Building materials
    Frame, Vinyl Siding
    Roof type
    Composition, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Shane Pullman

    Listing agent Shane Pullman

    Listing office Berkshire Hathaway PenFed Realty KS

    Listing date Mar 9, 2026

    MLS# 54352 Listing URL

    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.

    HighLights

    • 100% Leased: Provides immediate and stable cash flow.
    • Prime Location: Situated in the highly desirable Hutchinson Medical Corridor, ensuring strong rental demand.
    • Well‑Maintained: Features newer roofs, siding, windows, and updated concrete parking areas.
    • Desirable Unit Mix: Consists of spacious 3‑bedroom and 2‑bedroom units, appealing to a wide range of tenants.
    • Covered Parking: An attractive amenity that enhances tenant retention.
    • Turnkey Investment: Represents an ideal opportunity for investors seeking dependable income.

    Overview

    This is an excellent opportunity to acquire a 12-unit apartment complex. It consists of two well-maintained 6-unit buildings located in the highly desirable Hutchinson Medical Corridor. The location offers strong rental demand driven by nearby healthcare employment and services. Each building features a well-balanced unit mix of two spacious 3-bedroom units and four 2-bedroom units, appealing to a wide range of tenants and supporting long-term occupancy. The property is 100% leased, providing investors with immediate and stable cash flow from day one. Ownership has taken great care in maintaining the property, with major exterior improvements including newer roofs, siding, and windows, along with updated concrete parking areas. Tenants also benefit from covered parking, an attractive amenity that enhances tenant retention and property value. The multifamily property represents an ideal turnkey investment opportunity for investors seeking dependable income in one of Hutchinson's most desirable rental areas. The property size is 11152 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Hutchinson
    County
    Reno
    State
    Kansas
    Longitude
    -97.892988
    Latitude
    38.081343

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    FAQs

    What type of property is this?
    Apartment building - Turnkey 12-unit apartment complex in desirable Hutchinson Medical Corridor.
    Where is this apartment building located?
    The property is located at 1710 E 24th Ave Hutchinson, KS.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 100% Leased: Provides immediate and stable cash flow.; Prime Location: Situated in the highly desirable Hutchinson Medical Corridor, ensuring strong rental demand.; Well‑Maintained: Features newer roofs, siding, windows, and updated concrete parking areas.
    (316) 640-7375
    We can help!
    Listing Contact
    Shane Pullman
    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.

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