1214 Vattier St Manhattan, KS 66502-5297
- Garden apartment buildings
- 8,132 SF
- 0.34 lot acres
Current Use by Public Records
- Garden apartment buildings
Property Details for 1214 Vattier St
- Year built
- 1984
- Lot size
- 0.34 lot acres
- Property size
- 8,132 SF
- Zone code
- R-3
- Property type
- Garden apartment buildings
- APN
- 204-18-2-20-07-013.00-0
- APU
- 2041822007013000
Description
This exceptional investment opportunity presents a fully leased, 12-unit apartment building in Manhattan, Kansas. The property, built in 1984 and extensively renovated in 2022, boasts a strong NOI of $14,050 per month, resulting in a 0.92% cap rate. All twelve units are currently occupied, with leases extending into 2025, providing a stable and reliable income stream. Eleven units offer three bedrooms and 1.5 bathrooms, while one unit features two bedrooms and one bathroom. The building features a unique wooden deck walkway across the front, enhancing curb appeal. Ample off-street parking is available for all tenants. The property is situated in a desirable neighborhood, conveniently located near the campus, attracting a consistent tenant base. The building is a three-story, all-brick structure, showcasing a blend of classic architecture and modern amenities. Recent improvements include a new roof and new HVAC units in four of the apartments, presenting potential for further value enhancement. The property is zoned for commercial use and is currently owner-operated. This stabilized investment offers a compelling opportunity for a secure and profitable return. The asking price is $1,450,000.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $335,000
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Location Insight
- Map
- Local Demand
- City
- Manhattan
- County
- Riley
- State
- Kansas
- Longitude
- -96.5756
- Latitude
- 39.1882
- CBSA code
- 31740
- CBSA name
- MANHATTAN, KS MICROPOLITAN STATISTICAL AREA
