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227 S Poplar Street, South Hutchinson, KS

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227 S Poplar Street

South Hutchinson, KS 67505

Property Type:Multi-Family Number of Units:6 Status:Existing Year Built:1960
Stories:3 Building Size:3,600 SF Land Area:.24 AC (10,616 SF)
For Sale Price:$94,600 Price/Unit:$15,766.67 Cap Rate:5.10 % GRM:5.00


Sale Notes:

Rent has not been increased in more than five years.
New roof installed in 2009.
Detailed financials are available to qualified buyers on confidential basis.
Excellent property manager in place.
With 30 percent down payment, owner is willing to carry balance.

This property is a single building enclosing six one-bedroom units on three levels in South Hutchinson, Kansas. Two units feature independent heating and air conditioning units with separately metered electricity; the balance is on central air and heating. Tenancy is currently 50 percent, but the cap rate and gross rent multiplier are based on actual 2011 numbers approximating 85 percent occupancy.
Located within two blocks of an elementary school and city hall, this property is in high demand for small families and entry level workers. Overview and street level views are available on Google maps: 227 S. Poplar, South Hutchinson, KS.

Hutchinson Properties, LLC
Derek Simmons
(541) 915-4392

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