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    Property profile & analytics

    14 2nd Ave Hutchinson, KS 67501-7108

    • High-rise multifamily apartments
    • 29,384 SF
    • 0.19 lot acres
    OFF-MARKET
    Value Estimation
    $685,000
    Location Intelligence
    Property ID
    US33-0725501
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Leon Place apartments / Apartment Building

    Property Details for 14 2nd Ave

    Year built
    1930
    Construction
    FRAME
    Lot size
    0.19 lot acres
    Property size
    29,384 SF
    Property type
    High-rise multifamily apartments
    APN
    126-13-0-10-15-007.00
    APU
    126130101500700

    Description

    This stunning 7-story, 32,420 square foot apartment building, constructed in 1930, presents a unique investment opportunity in Hutchinson, Kansas. Currently operating at 94% occupancy, this 33-unit multifamily property boasts a strong pro-forma NOI of $74,961 and an attractive 8.26% cap rate. Located at 14 E 2nd Ave, in Reno County, this historic building retains many original features, including stonework, marble floors, and period entryways, blending historical charm with modern upgrades. Recent renovations include a new elevator and chiller, as well as significant improvements to the laundry room, lobby, and hallways. The property offers significant upside potential through increased rents, leasing of available commercial space, and filling the remaining 6% vacancy. Financial records are available upon request. The projected occupancy date for full capacity is September 24, 2024. This property is situated within a qualified opportunity zone, offering additional investment incentives. The asking price for this exceptional income-producing asset is $1,500,000.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $775,000

    • CAP approach

      CAP return
      Estimation
      6%
      $660,000
      6.5%
      $635,000
      7%
      $635,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $660,000
      Geo Method
      $635,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $505,000
      Retail
      $535,000
      Mixed-Use
      $635,000
      Hospitality
      $525,000
      Educational
      $660,000
      Residential Income
      $495,000
      Energy
      $575,000
      Income-Based Land
      $640,000
      Food Service
      $675,000

    Location Insight

    • Map
    • Local Demand
    City
    Hutchinson
    County
    Reno
    State
    Kansas
    Longitude
    -97.931
    Latitude
    38.0551
    CBSA code
    26740
    CBSA name
    HUTCHINSON, KS MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $12,187
    $2,321
    $51,414
    $53,735
    -
    $20,180
    $438,670
    $458,850

    Comparable in this City

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      720 Main St

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      100 Main St, Unit II

      HIGH-RISE APARTMENTS • 52,505 SF
      100 Main St, Hutchinson, KS 67501-5230
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      501 Main St

      HIGH-RISE APARTMENTS • 35,820 SF
      501 Main St, Hutchinson, KS 67501-4820
      View Details
    • Value Estimation by Request
      11,250 SF

      100 Main St, Unit I

      HIGH-RISE APARTMENTS • 11,250 SF
      100 Main St, Hutchinson, KS 67501-5230
      View Details

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    14 2nd Ave
    Hutchinson, KS 67501-7108
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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
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