16-Unit Apartment
For Sale
$2,900,000
803 S Logan St, Newton, KS 67114
Newly constructed multifamily portfolio with access to I-135 and the US-50 corridor.
Property Size20,000 SF
Days on Market49
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Property Features for 803 S Logan St
General Information
Standard status
Active
Size
20,000 SF
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
16
Building Details
Building Size
20,000 SF
Year Built
2024
Listed By:
Jayden Bowlby
(316) 262-0000
Source:
Naimartens
Added: Aug 28
Changed: Oct 15
Last Checked: Oct 14 at 8:09PM
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 Jayden Bowlby
Investment Insights
Based on property information with market context.
This 16-unit apartment portfolio was built in 2024 and is located at 803 S Logan St in Newton, Kansas. The property is positioned near I-135 and the US-50 corridor, providing access to two established regional routes.
Key Highlights
- 16‑unit apartment portfolio
- Built in 2024
- Near I‑135
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$154,242
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,084,840
$3.1M
Cap Rate 7%
$2,203,457
$2.2M
Cap Rate 9%
$1,713,800
$1.7M
Market Conditions
NOI Build-Up for 20,000 SF
Gross rent
$295.2K $14.76/SF
− Vacancy
−$14.8K −$0.74/SF
EGI
$280.4K $14.02/SF
− OpEx
−$126.2K −$6.31/SF
NOI
$154.2K $7.71/SF
Area
Harvey County, KS
Vacancy
5.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,084,840
Cap Rate 7%
$2,203,457
Cap Rate 9%
$1,713,800
Alternative Uses
Best Use
Apartment 5plus
$2.20M
$1.93M – $2.57M
NOI $154,242 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.25M
$3.72M – $4.95M
NOI $297,216 @ 7.0% cap · market cap 10.25%
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
16
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 67114, KS
21,375
Population
9,382
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
91%
High-School Grad
236.9 sq mi
ZIP Area
90
Density / Sq Mi
$68,393
Median Household Income
$39,617
Median Earnings
$909
Median Rent
$164,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Newly constructed multifamily portfolio with access to I-135 and the US-50 corridor.
Where is this apartment building located?
The property is located at 803 S Logan St Newton, KS.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 16‑unit apartment portfolio; Built in 2024; Near I‑135
