644 N Bluff Ave - Multi-Family FOR SALE


Wichita, KS 67208- East Wichita
$1,200,000 USD
316-393-5259
644 N Bluff Ave, Wichita, KS for Sale
$1,200,000 USD
Multi-Family - FOR SALE
1/25
null | Request Cap Rate

644 N Bluff Ave
Wichita, KS 67208
East Wichita


OVERVIEW

8-Unit Multifamily Investment Opportunity | Back on Market This well-maintained 8-unit property is back on the market after a prior buyer was unable to secure financing. The property appraised at the contract price, confirming value. The building underwent a comprehensive renovation approximately four years ago, including: New windows, electrical, and plumbing New AC units New concrete and parking lot Fully updated kitchens and bathrooms Refinished original oak floors Interior and exterior paint and updated fixtures throughout Major capital improvements continue to reduce future risk: 2024: Main sewer line replaced from building to city main 2025: New furnaces installed at 646 Bluff Unit mix: 4 two-bedroom units 4 one-bedroom units Currently, three units operate as short-term rentals and are outperforming long-term rent rates, with strong forward bookings already in place for the coming months. One unit is vacant and available for immediate viewing, along with common areas. Remaining units may be shown with an acceptable LOI or executed contract. This property offers a rare combination of stabilized condition, recent major systems replacement, and upside through continued or expanded short-term rental operations.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$183 USD /SF

# OF UNITS

8

PRICE/UNIT

$150,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Bluff Flats

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

126-14-0-43-04-003.00

ASK ABOUT THIS PROPERTY

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

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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.