534-544 N Richmond St - Apartments FOR SALE


Wichita, KS 67203- Sunflower
$750,000 USD
316-393-5259
534-544 N Richmond St, Wichita, KS for Sale
$750,000 USD
Apartments - FOR SALE
1/22
null | 7.17% Cap Rate

534-544 N Richmond St
Wichita, KS 67203
Sunflower


HIGHLIGHTS

  • Close to the river and downtown
  • On site parking
  • New roofs in May 2025, newer lvt floors in basement in last 2 years, and 5 of 6 Ac units new in the last 2 years

OVERVIEW

Investment Offering – 534–544 N Richmond, Wichita, KS Rare opportunity to acquire a well-maintained multifamily package of three side-by-side duplexes arranged in a U-shape with convenient onsite parking and shared greenspace. This six-unit property generates a gross annual income of $71,700 with strong potential for continued rent growth through targeted updates. Each unit features: 2 bedrooms, 1bath on the main level Finished basement with an additional non-conforming bedroom and living room New LVT flooring installed in basements, providing modern, durable finishes tenants love Recent capital improvements ensure low near-term maintenance: New roofs (installed within the last 2 months) 5 of 6 air conditioning units updated within the past 2 years With value-add opportunities still available through interior renovations and rent optimization, this property offers both stability and upside. Located in a prime central Wichita location, residents enjoy quick access to downtown, the river, local parks, popular restaurants, and major highways, making it highly attractive for tenants. This is a strong, income-producing asset with proven performance and room to grow—ideal for both seasoned investors and those expanding their Wichita portfolio.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

6

PRICE/UNIT

$125,000

CAP RATE

7.17%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Building A

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

TF-3-TWO FAMILY

APN/PARCEL ID

136-24-0-11-08-004.00C

ASK ABOUT THIS PROPERTY

Nela BayouthReece Nichols South Central KansasMore Info
316-393-5259

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

Nela BayouthReece Nichols South Central KansasMore Info
316-393-5259

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