Multifamily Duplex
For Sale
$1,799,000
3212-3244 S Victoria Ave, Wichita, KS 67216
Modern, two-story duplex buildings offer open-plan two-bedroom units with laundry hookups and equipped kitchens.
Property Size15,237 SF
Price / SF$118.07
Days on Market82
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Property Features for 3212-3244 S Victoria Ave
General Information
Standard status
Active
Size
15,237 SF
Total Parking Spaces
18
Property subtype
Multi-Family
Units
Unit Mix
18 x 2BR/1BA
Multifamily Units
18
Parking per Unit
1
Additional Details
Average Monthly Rent
$995
Utilities to Site
Yes
Sprinkler System
Yes
Building Details
Year Built
2023
Buildings
9
Listing Agency:
McCurdy Real Estate & Auction, LLC
Listed By:
Braden McCurdy · License #BR00052737
(316) 683-0612
Source:
Highpointks
Added: Jul 26
Changed: Oct 3
Last Checked: Oct 7 at 2:46PM
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 McCurdy Real Estate & Auction, LLC
Investment Insights
Based on property information with market context.
The package includes 9 duplex buildings with 18 total units on one parcel at 3212-3244 S Victoria Ave in Wichita, Kansas. Built in 2023, each duplex contains 1,696 square feet of finished living space arranged across one upstairs and one downstairs unit. Every residence offers 2 bedrooms, 1 bath, an open floor plan, laundry hookups, and a kitchen equipped with a refrigerator, range/oven, dishwasher, and microwave.
Property infrastructure includes a site sprinkler system, a single 2-inch water meter, and separately metered electric service. Tenants pay electric, while ownership handles water/sewer, trash, lawn care, and parking lot maintenance. Four units are currently vacant. Each unit has one paved parking space, with additional street parking available. The lot also has room for 2-3 additional duplex buildings.
Property infrastructure includes a site sprinkler system, a single 2-inch water meter, and separately metered electric service. Tenants pay electric, while ownership handles water/sewer, trash, lawn care, and parking lot maintenance. Four units are currently vacant. Each unit has one paved parking space, with additional street parking available. The lot also has room for 2-3 additional duplex buildings.
Key Highlights
- 9 duplex buildings with 18 total units on a single parcel
- Built in 2023; each duplex contains 1,696 sq. ft. of finished living space
- Each unit includes 848 sq. ft., 2 bedrooms, and 1 bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$125,655
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,513,100
$2.5M
Cap Rate 7%
$1,795,071
$1.8M
Cap Rate 9%
$1,396,167
$1.4M
Market Conditions
NOI Build-Up for 15,237 SF
Gross rent
$192.0K $12.60/SF
− Vacancy
−$12.5K −$0.82/SF
EGI
$179.5K $11.78/SF
− OpEx
−$53.9K −$3.53/SF
NOI
$125.7K $8.25/SF
Area
Wichita, KS
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,513,100
Cap Rate 7%
$1,795,071
Cap Rate 9%
$1,396,167
Alternative Uses
Best Use
Multifamily LT 5
$1.80M
$1.57M – $2.09M
NOI $125,655 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $116,891 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $264,091 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
18
Residential units
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
Explore this area
Business Placement
Demographics for 67216, KS
23,212
Population
9,928
Households
2.3
Avg Household Size
34
Median Age
8%
College-Educated
78%
High-School Grad
12.2 sq mi
ZIP Area
1,903
Density / Sq Mi
$47,172
Median Household Income
$30,732
Median Earnings
$876
Median Rent
$92,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Modern, two-story duplex buildings offer open-plan two-bedroom units with laundry hookups and equipped kitchens.
Where is this multifamily property located?
The property is located at 3212-3244 S Victoria Ave Wichita, KS.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: 9 duplex buildings with 18 total units on a single parcel; Built in 2023; each duplex contains 1,696 sq. ft. of finished living space; Each unit includes 848 sq. ft., 2 bedrooms, and 1 bath
