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    924 Washington Ave Wellington, KS 67152

    For Sale
    $395,000

    18-Unit Multifamily, Excellent Condition

    Property size:
    20,678 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 18-unit apartment building presents a compelling investment opportunity in Wellington, Kansas. Located at 924 S Washington Ave, this well-maintained Class B property boasts a substantial 20,678 square feet of space, offering a compelling price per square foot of $19.10. The asking price for this multifamily asset is $395,000, translating to an attractive price per unit of $21,944.44. Originally constructed as a hospital, the building features a unique layout ideal for its current use. Key features include a commercial kitchen with a large adjoining dining room, perfect for communal gatherings or catering events. Accessibility is ensured with an elevator and ramp, catering to a diverse range of tenants. Multiple floors offer various entry points, enhancing convenience. Several large rooms are adaptable for a variety of uses, including meetings, classrooms, or family rooms, providing flexibility for future development or tenant needs. The building's brick construction and corner lot location add to its curb appeal and visibility. Situated in Sumner County, Kansas, with a zip code of 67152, this property offers a strong foundation for a profitable investment. The building's history and current configuration provide a unique opportunity for an investor seeking a well-established, multi-use property in a stable market. This is a rare chance to acquire a substantial multifamily property with significant potential for growth and return on investment.

    Property Features for 924 Washington Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    20,678 SF
    Class
    B

    Building Details

    Units
    18

    HighLights

    • 18‑unit apartment building in Wellington, Kansas, offering 20,678 square feet at $19.10/SF.
    • Asking price: $395,000 ($21,944.44 per unit).
    • Class B property with elevator and ramp, multiple entry points, and adaptable large rooms.
    • Features a commercial kitchen and large dining room.
    • Brick building on a corner lot in Sumner County, KS (zip code 67152).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wellington
    County
    Sumner
    State
    Kansas
    Longitude
    -97.3981757
    Latitude
    37.2570154

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    FAQs

    What type of property is this?
    Multifamily property - 18-Unit Multifamily, Excellent Condition
    Where is this multifamily property located?
    The property is located at 924 Washington Ave Wellington, KS.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: 18-unit apartment building in Wellington, Kansas, offering 20,678 square feet at $19.10/SF.; Asking price: $395,000 ($21,944.44 per unit).; Class B property with elevator and ramp, multiple entry points, and adaptable large rooms.
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    Wellington, KS 67152
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    924 Washington Ave Wellington, KS 67152
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