18-Unit Multifamily
For Sale
$1,799,000
3212-3244 S Victoria Ave, Wichita, KS 67216
MULTI_FAMILY - Wichita, KS
Property Size15,237 SF
Lot Size0.97 Acres
Price / SF$118.07
Days on Market197
Property Features for 3212-3244 S Victoria Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
18
Appliances
Dishwasher, Disposal, Microwave, Range, Refrigerator
Subdivision
RAINBOW 1ST ADDITION
Elementary school
Anderson
Middle school
Mead
High school
South
Elementary school district
Wichita School District (USD 259)
Middle school district
Wichita School District (USD 259)
High school district
Wichita School District (USD 259)
Directions
From Hydraulic & 31st St South - W. on 31st St, S. on Victoria Ave to property.
Standard status
Active
APN
21209-00131831
Size
15,237 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLOCK 16 EXC S 200 FT W 144 FT & EXC E 459.5 FT & EXC N 120 FT THEREOF RAINBOW FIRST ADDITION
Tax Annual Amount
18825
Legal Description
BLOCK 16 EXC S 200 FT W 144 FT & EXC E 459.5 FT & EXC N 120 FT THEREOF RAINBOW FIRST ADDITION
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Amenities
refrigerator
range/oven
dishwasher
microwave
laundry hookups
Building Details
Year built
2023
Number of units
18
Building materials
Frame
Roof type
Composition
Listing Agency:
McCurdy Real Estate & Auction, LLC
(316) 867-3600
Listed By:
Braden McCurdy · License #BR00052737
(316) 683-0612
Added: Jan 21
Changed: Aug 4
Last Checked: Aug 6 at 7:06AM
MLS# 667319
Copyright © 2026 South Central 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.
Investment Insights
Based on property information with market context.
Completed in 2023, this multifamily property comprises 9 duplex buildings with 18 total units on a single parcel. Each building contains 1,696 square feet of finished living space, divided into two 848-square-foot residences. The two-story configuration places one unit upstairs and one downstairs, with every residence offering 2 bedrooms, 1 bathroom, and an open floor plan. Kitchens include refrigerators, range/ovens, dishwashers, and microwaves, while laundry hookups are provided in each unit.
The property occupies 0.9726 acres and includes a site sprinkler system, a single 2-inch water meter, public water, and separately metered electric. Each unit has one paved parking space, with additional street parking available. Ownership covers water/sewer, trash service, lawn maintenance, and parking lot maintenance; tenants pay electric. The seller also has a written agreement with the adjoining property owner regarding future fence-maintenance expenses. The parcel has room for 2-3 additional duplex buildings, subject to applicable approvals.
The property occupies 0.9726 acres and includes a site sprinkler system, a single 2-inch water meter, public water, and separately metered electric. Each unit has one paved parking space, with additional street parking available. Ownership covers water/sewer, trash service, lawn maintenance, and parking lot maintenance; tenants pay electric. The seller also has a written agreement with the adjoining property owner regarding future fence-maintenance expenses. The parcel has room for 2-3 additional duplex buildings, subject to applicable approvals.
Key Highlights
- 9 duplex buildings with 18 total units on one parcel
- Built in 2023; 1,696 square feet per duplex and 848 square feet per unit
- All residences feature 2 bedrooms, 1 bathroom, and open floor plans
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 | $192.0k | $12.60 |
| − Vacancy | −$12.5k | −$0.82 |
| EGI | $179.5k | $11.78 |
| − OpEx | −$53.9k | −$3.53 |
| NOI | $125.7k | $8.25 |
15,237 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Nine newer duplex buildings offer modern two-story layouts, open floor plans, and individually metered electric service.
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 one parcel; Built in 2023; 1,696 square feet per duplex and 848 square feet per unit; All residences feature 2 bedrooms, 1 bathroom, and open floor plans
