Renovated Three-Unit
For Sale
$359,000
610 W 25th St, Lawrence, KS 66046
Three residential units offer updated interiors, individual cooling, laundry, equipped kitchens, and rear off-street parking.
Property Size2,081 SF
Price / SF$172.51
Days on Market58
Property Features for 610 W 25th St
General Information
Standard status
Active
Size
2,081 SF
Property subtype
Multi-Family
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Road Access
Yes
Amenities
in-unit washer/dryer
Building Details
Year Built
1958
Year Renovated
2019
Buildings
1
Tenancy
Multi
Listing Agency:
STEPHENS REAL ESTATE, INC
Listed By:
ZACH DODSON · License #SP00236280
(785) 220-2237
Source:
Stoneandstory
Added: Aug 19
Changed: Oct 7
Last Checked: Oct 7 at 3:07PM
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 STEPHENS REAL ESTATE, INC
Investment Insights
Based on property information with market context.
This triplex contains three residential units, each arranged with two bedrooms and one bathroom. The property was renovated in 2019 and includes a new roof from the same year, along with one mini-split system per unit. Each residence also has its own washer and dryer and a fully equipped kitchen. Rear off-street parking adds convenience and separation from the living areas.
Unit A is operated as a professionally managed short-term rental, while Units B and C are occupied by tenants. The property is a short walk from 23rd St and Checker's Grocery, with Louisiana Street providing an easy route toward the W 31st St and K-10 corridors, local shopping, restaurants, and Kansas City.
Unit A is operated as a professionally managed short-term rental, while Units B and C are occupied by tenants. The property is a short walk from 23rd St and Checker's Grocery, with Louisiana Street providing an easy route toward the W 31st St and K-10 corridors, local shopping, restaurants, and Kansas City.
Key Highlights
- Triplex with 3 units, each offering 2 bedrooms and 1 bathroom
- Renovated in 2019 with a new roof installed that year
- Each unit includes a mini‑split, washer and dryer, and fully equipped kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,649
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,980
$413.0K
Cap Rate 7%
$294,986
$295.0K
Cap Rate 9%
$229,433
$229.4K
Market Conditions
NOI Build-Up for 2,081 SF
Gross rent
$31.2K $15.00/SF
− Vacancy
−$1.7K −$0.83/SF
EGI
$29.5K $14.17/SF
− OpEx
−$8.8K −$4.25/SF
NOI
$20.6K $9.92/SF
Area
Douglas County, KS
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,980
Cap Rate 7%
$294,986
Cap Rate 9%
$229,433
Alternative Uses
Best Use
Multifamily LT 5
$295.0K
$258.1K – $344.2K
NOI $20,649 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$276.9K
$242.3K – $323.0K
NOI $19,382 @ 7.0% cap · market cap 5.40%
Theoretical Best
Retail
$612.4K
$535.8K – $714.5K
NOI $42,867 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Explore this area
Business Placement
Demographics for 66046, KS
19,903
Population
9,452
Households
2.1
Avg Household Size
31
Median Age
46%
College-Educated
96%
High-School Grad
40.8 sq mi
ZIP Area
488
Density / Sq Mi
$58,798
Median Household Income
$31,546
Median Earnings
$937
Median Rent
$217,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer updated interiors, individual cooling, laundry, equipped kitchens, and rear off-street parking.
Where is this triplex located?
The property is located at 610 W 25th St Lawrence, KS.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: Triplex with 3 units, each offering 2 bedrooms and 1 bathroom; Renovated in 2019 with a new roof installed that year; Each unit includes a mini‑split, washer and dryer, and fully equipped kitchen
