2010 8th St Hays, KS 67601-4522
- Garden apartment buildings
- 2,424 SF
- 0.29 lot acres
Current Use by Public Records
- El Charro Apartments / Apartment Building
Property Details for 2010 8th St
- Year built
- 1945
- Lot size
- 0.29 lot acres
- Property size
- 2,424 SF
- Property type
- Garden apartment buildings
- APN
- 181-02-0-30-03-002.03
- APU
- 181020300300203
Description
This exceptional 20-unit apartment complex, situated at 2010 E 8th St in Hays, Kansas (Ellis County, zip code 67601), presents a compelling investment opportunity. The property, comprised of two one-story buildings, boasts a strong track record of performance, evidenced by historically low vacancy rates and excellent cash flow. Built between 1941 and 1945, the property has undergone significant renovations in 2022, 2023, and 2024, including the recent installation of new roofs on both buildings. The complex features a mix of studio and one-bedroom apartments, offering a diverse tenant base. Currently operating as a commercial property, the 1-2 acre lot is zoned for commercial use. The asking price is $425,000, representing a price per unit of $21,250 and a 12% capitalization rate based on a net operating income (NOI) of $51,000. The property's location at the intersection of 8th and Canterbury streets provides convenient access to local amenities. Furthermore, there's potential for value-add improvements, with the possibility of expanding the complex by three additional units. This property is located outside city limits. Financial details are available upon request.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hays
- County
- Ellis
- State
- Kansas
- Longitude
- -99.2989
- Latitude
- 38.8583
- CBSA code
- 25700
- CBSA name
- HAYS, KS MICROPOLITAN STATISTICAL AREA
