0 23Rd St Topeka, KS 66614
This exceptional 30-unit apartment building presents a compelling investment opportunity in Topeka, Kansas. Strategically located at the Northwest corner of 23rd Street and Fairlawn Road, this property boasts a prime location surrounded by established businesses including Dillons, Walgreens, McDonald's, Office Depot, and more, ensuring high occupancy rates and strong rental income. The complex comprises three buildings, each approximately 2494 square feet, totaling 7,482 square feet on a 1.19-acre lot. Each building houses 10 units, providing a well-balanced and easily managed portfolio. The asking price is $1,799,000, translating to a price per square foot of $240.44 and a price per unit of $59,966.67. This multifamily investment offers significant potential for both immediate returns and long-term appreciation. The property's strong location, combined with its well-maintained buildings and high occupancy potential, makes it an attractive proposition for discerning investors seeking a stable and profitable addition to their portfolio. The zip code is 66614. This is a turnkey opportunity to acquire a thriving apartment complex in a desirable Topeka neighborhood.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.