420 S Meridian Ave - Apartments FOR SALE


Wichita, KS 67213- Delano
$1,650,000 USD
316-260-5900
420 S Meridian Ave, Wichita, KS for Sale
$1,650,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

420 S Meridian Ave
Wichita, KS 67213
Delano


HIGHLIGHTS

  • Walking distance to Friends University
  • New construction duplex and 12 unit apartment building with many improvements
  • New HVAC in all units, 5 year old roof on 12 unit building, duplex is all new in 2022

OVERVIEW

Incredible Investment Opportunity – 12-Unit Apartment Building + New Construction Duplex Near Major Universities A rare chance to acquire a high-quality multifamily investment featuring a 12-unit apartment building and a newly constructed duplex, both ideally situated near two major universities, with excellent access to downtown and major highways. 420 Meridian – 12-Unit Apartment Building This well-maintained complex includes twelve 2-bedroom, 1.5-bath units averaging 1,000 sq ft, each with private patios or decks. Significant recent upgrades include: All-new furnaces and central A/C units installed in 2024 (12 total) 7 of 12 units extensively remodeled with: New flooring and updated kitchens (quartz countertops, tile, modern appliances) Bathroom upgrades including new tile, vanities, and fixtures Washer/dryer hookups in 6 units Roofs replaced approximately 4 years ago Exterior paint completed 3 years ago New concrete HVAC pads in 2024 502/504 S Meridian – New Construction Duplex (Built 2023) Located just across the street, this duplex adds newer construction value and contemporary appeal: Two 3-bedroom, 2-bath units with quality finishes throughout Detached 2-car garage, divided for privacy—one garage space per unit Expanded driveway for better access and increased parking This package combines recent renovations, new systems, and long-term location value—ideal for investors seeking low maintenance and strong tenant demand.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$103 USD /SF

# OF UNITS

14

PRICE/UNIT

$117,857

CAP RATE

Request Cap Rate

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

MERIDIAN APARTMENTS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1977

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,259 SF

ZONING

B

APN/PARCEL ID

129-30-0-22-04-005.00

ASK ABOUT THIS PROPERTY

Nela BayouthReece Nichols South Central KansasMore Info
316-260-5900

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Nela BayouthReece Nichols South Central KansasMore Info
316-260-5900

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