2520 E Lincoln St - Apartments FOR SALE


Wichita, KS 67211- East Front/Sunnyside
$1,950,000 USD
316-867-3600
2520 E Lincoln St, Wichita, KS for Sale
$1,950,000 USD
Apartments - FOR SALE
1/82
null | Request Cap Rate

2520 E Lincoln St
Wichita, KS 67211
East Front/Sunnyside


HIGHLIGHTS

  • 3% Vacancy Rate
  • 34 Units
  • Great Income!!!

OVERVIEW

Prime Investment Opportunity – Boulevard Plaza Apartments for Sale! Located in southeast Wichita, Boulevard Plaza Apartments presents a rare opportunity for investors seeking a high-performing asset with solid rental income. This property consists of two 17-unit apartment buildings situated on a spacious 1-acre corner lot. The complex is surrounded by mature trees, a landscaped courtyard, and fencing. There is a total of 34 units, offering a mix of 1-bedroom and 2-bedroom apartments. Each building has (5) 1-bedroom units and (12) 2-bedroom units. Almost all the tenants are on month-to-month leases, providing flexibility for rent adjustments. The gross rental income for 2023 was an impressive $261,000, with a strong YTD income for 2024 (through September) at $213,405. Only 1 vacant unit, ensuring a high occupancy rate and consistent cash flow. Key features: • Over 50 parking spaces • Utility/Laundry rooms on each floor, with a service provider contract in place with Jetz Laundry • The two-bedroom units feature private balconies, several of which have been recently rebuilt • Convenient access to major highways like I-135 and Kellogg, making commuting easy With strong financials and low vacancy rates, Boulevard Plaza Apartments is an exceptional investment opportunity!

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

34

PRICE/UNIT

$57,353

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Boulevard Plaza

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

Multi Family & Gen Office

APN/PARCEL ID

128-27-0-13-06-014.00

ASK ABOUT THIS PROPERTY

Braden McCurdyMcCurdy Real Estate & AuctionMore Info
316-867-3600

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Braden McCurdyMcCurdy Real Estate & AuctionMore Info
316-867-3600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.