11-Unit Apartment
For Sale
$3,617,000
8423 N Tyler Ct, Wichita, KS 67205
Brand-new multifamily units offer three floor plans with four bedrooms, finished basements, and varied layouts.
Property Size30,580 SF
Price / SF$118.28
Days on Market76
Property Features for 8423 N Tyler Ct
General Information
Standard status
Active
Size
30,580 SF
Property subtype
Multi-Family
Units
Unit Mix
11 x 4BR/3.5BA
Multifamily Units
11
Building Details
Year Built
2023
Listing Agency:
COSH Real Estate Services
Listed By:
Corey Sandy · License #BR00230865
(316) 670-2769
Source:
Highpointks
Added: Aug 1
Changed: Oct 15
Last Checked: Oct 7 at 1:42PM
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 COSH Real Estate Services
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2023, this 11-unit apartment property includes three distinct floor plans. Each residence provides four bedrooms, 3.5 bathrooms, and a full finished basement, with unit sizes ranging from 2,100 to 3,300 square feet. The property is located at 8423 N Tyler Ct in Wichita, Kansas.
Six units are currently rented, while the remaining units are being actively marketed. Current lease and rent information is available through the listing agent. The combination of recently built residences, multiple layouts, and substantial per-unit living area defines the property's configuration.
Six units are currently rented, while the remaining units are being actively marketed. Current lease and rent information is available through the listing agent. The combination of recently built residences, multiple layouts, and substantial per-unit living area defines the property's configuration.
Key Highlights
- 11 apartment units completed in 2023
- Three different floor plans across the property
- Each unit includes 4 bedrooms and 3.5 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$235,836
Cap Rate
6.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,716,720
$4.7M
Cap Rate 7%
$3,369,086
$3.4M
Cap Rate 9%
$2,620,400
$2.6M
Market Conditions
NOI Build-Up for 30,580 SF
Gross rent
$451.4K $14.76/SF
− Vacancy
−$22.6K −$0.74/SF
EGI
$428.8K $14.02/SF
− OpEx
−$193.0K −$6.31/SF
NOI
$235.8K $7.71/SF
Area
ZIP 67205
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%
$4,716,720
Cap Rate 7%
$3,369,086
Cap Rate 9%
$2,620,400
Alternative Uses
Best Use
Apartment 5plus
$3.37M
$2.95M – $3.93M
NOI $235,836 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,443 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 67205, KS
20,461
Population
7,467
Households
2.7
Avg Household Size
40
Median Age
50%
College-Educated
98%
High-School Grad
16.9 sq mi
ZIP Area
1,211
Density / Sq Mi
$120,630
Median Household Income
$65,457
Median Earnings
$1,237
Median Rent
$314,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Brand-new multifamily units offer three floor plans with four bedrooms, finished basements, and varied layouts.
Where is this apartment building located?
The property is located at 8423 N Tyler Ct Wichita, KS.
What is the asking price?
The asking price for this property is $3,617,000.
What are key features of this property?
This property features: 11 apartment units completed in 2023; Three different floor plans across the property; Each unit includes 4 bedrooms and 3.5 bathrooms
