1255 Tyler St Topeka, KS 66612

This exceptional investment opportunity presents a fully renovated fourplex located at 1255 SW Tyler St, Topeka, KS 66612. The property, built in 1925 and extensively remodeled in 2024, boasts 3,950 square feet situated on a 0.28-acre lot. The building, classified as a Class B multifamily property (converted house), features four units: two 3-bedroom, 1-bathroom apartments and two 2-bedroom, 1-bathroom apartments. Currently operating at 75% occupancy, the property generates a substantial net operating income (NOI) of $31,723, with a total monthly rent of $3,500 ($900 for 3-bed units and $850 for 2-bed units). The asking price is $299,000, representing a price per square foot of $75.70 and a price per unit of $74,750. The property's strong cash flow is further supported by a 10.61% capitalization rate. Zoned M-2, this stabilized investment offers immediate returns and significant long-term appreciation potential within Topeka's growing real estate market. The property's modern amenities and appealing interiors attract high-quality tenants, ensuring a reliable income stream. This turnkey investment presents a rare opportunity to acquire a well-maintained property in a desirable location with potential for further rent optimization and increased returns.