Current Use by Public Records
- Dormitories
Property Details for 614/616 Cherokee St
- Year built
- 1863
- Lot size
- 0.15 lot acres
- Property type
- Dormitories
- Property subtype
- Student housing
Description
This exceptional investment opportunity presents a fully leased, mixed-use property in Leavenworth, Kansas. The 7,475 square foot building, constructed in 1863 and situated on a 0.15-acre lot, comprises two buildings and features eight units: seven apartments and 1,500 square feet of commercial space. Currently operating at 100% occupancy (as of June 23, 2024), the property boasts a strong net operating income (NOI) of $54,673, resulting in an attractive 8.41% cap rate. The asking price is $650,000, translating to $86.96 per square foot. The apartments are fully furnished with modern amenities, including flat-screen TVs and housewares. Convenient coded exterior doors enhance security. On-site caretaking and cleaning services are provided by a resident, ensuring smooth operations and immediate response to emergencies. Located in the CBD, with permitted zoning, the property benefits from its proximity to Fort Leavenworth and St. Mary's University, and enjoys excellent walkability, with a farmer's market nearby. This turn-key investment offers a stable income stream and significant potential for future growth within a vibrant and historic urban setting. The property's APN is 052-077-36-0-20-07-008.00-0
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Leavenworth
- County
- Leavenworth
- State
- Kansas
- Longitude
- -94.9175
- Latitude
- 39.3169
