739 N Sheridan St - Apartments FOR SALE


Wichita, KS 67203- West Wichita
$1,550,000 USD
316-260-5900
739 N Sheridan St, Wichita, KS for Sale
$1,550,000 USD
Apartments - FOR SALE
1/30
null | Request Cap Rate

739 N Sheridan St
Wichita, KS 67203
West Wichita


OVERVIEW

Great Investment Opportunity in Indian Hills Stone Edge Apartments Stone Edge Apartments presents a solid value-add multifamily investment opportunity located in the desirable Indian Hills neighborhood. This well-maintained property consists of two buildings with a total of 12 one-bedroom, one-bathroom units each,24 units in total, centered around a shared parking lot with ample green space. Many units feature private patios or balconies, enhancing tenant appeal. The property offers upside potential through continued interior upgrades and rent increases. The model unit has recently been fully updated with new LVT flooring, fresh paint, modern fixtures, and new appliances. Other units vary in finish, with a mix of LVT and carpet. Sample unit photos are available. Significant capital improvements have been completed, including replacement of both main water lines to the buildings, several HVAC units, water heaters, and appliances. Rent increases have been implemented incrementally as units turn over or renew, offering continued growth in income. The property is professionally managed and maintained by Cedar Mills Property Management, with all maintenance and tenant relations current and documented. This is a turnkey opportunity for an investor seeking a stabilized asset with immediate cash flow and long-term upside.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$126 USD /SF

# OF UNITS

24

PRICE/UNIT

$64,583

CAP RATE

Request Cap Rate

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stone Edge Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

MF29

APN/PARCEL ID

136-13-0-34-01-003.00B

ASK ABOUT THIS PROPERTY

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.

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.