182-Unit Apartment
2727 N Amidon Ave., Wichita, KS 67204
For Sale
New
$10,000,000
Studio and one-bedroom homes are complemented by a clubhouse, leasing office, and fitness center.
Property Size78,598 SF
Days on Market2
Property Features for 2727 N Amidon Ave.
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Highway Access
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Amenities
clubhouse
fitness center
Building Details
Building Size
Year Built
Listing Agency:
NAI Martens
Listed By:
Trent Garman · License KS SP00237691
(316) 613-2447
Source:
Naimartens
Added: Nov 12
Last Checked: Nov 12 at 2:32PM
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 NAI Martens
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Investment Insights
Based on property information with market context.
Built in 1972, this 182-unit apartment property includes 90 studio apartments and 92 one-bedroom apartments. The grounds have received capital improvements, and the property includes a clubhouse, leasing office, and fitness center. Occupancy is 91%, with in-place rent upside noted.
The property is on Amidon Avenue in West Wichita, with access to I-235 and Downtown Wichita.
The property is on Amidon Avenue in West Wichita, with access to I-235 and Downtown Wichita.
Key Highlights
- 182 apartments: 90 studios and 92 one‑bedrooms
- 91% occupied, with in‑place rent upside
- Clubhouse, leasing office, and fitness center
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$602,965
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,059,300
$12.1M
Cap Rate 7%
$8,613,786
$8.6M
Cap Rate 9%
$6,699,611
$6.7M
Market Conditions
NOI Build-Up for 78,598 SF
Gross rent
$1.16M $14.76/SF
− Vacancy
−$63.8K −$0.81/SF
EGI
$1.10M $13.95/SF
− OpEx
−$493.3K −$6.28/SF
NOI
$603.0K $7.67/SF
Area
Wichita, KS
Vacancy
5.50%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,059,300
Cap Rate 7%
$8,613,786
Cap Rate 9%
$6,699,611
Alternative Uses
Best Use
Apartment 5plus
$8.61M
$7.54M – $10.05M
NOI $602,965 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$19.46M
$17.03M – $22.70M
NOI $1,362,278 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
182
Residential units
91%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 67204, KS
21,932
Population
9,424
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
79%
High-School Grad
16.1 sq mi
ZIP Area
1,362
Density / Sq Mi
$68,549
Median Household Income
$39,258
Median Earnings
$976
Median Rent
$148,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Apartment buildings in Sedgwick County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Studio and one-bedroom homes are complemented by a clubhouse, leasing office, and fitness center.
Where is this apartment building located?
The property is located at 2727 N Amidon Ave. Wichita, KS.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 182 apartments: 90 studios and 92 one‑bedrooms; 91% occupied, with in‑place rent upside; Clubhouse, leasing office, and fitness center
