2600 N Grove St Wichita KS 67219

$2,200,000 Price 38,864 sq. ft. $57 / sq. ft.

MAJOR potential with a lot of hard work already put in! Seller has spent a lot of time turning this complex around from repairs to the good tenants now in place. This complex features 54 studios and 6 one bedroom units and has the potential of adding another 2-6 units on the ground floor. Each floor has a communal laundry room. Over 39K worth of repairs done since August and over half of the units have had repairs made varying new PTAC units, appliances, flooring, and more. Monthly pest control has been put in place since initial treatment started in August. Elevator repairs have been made to ensure the unit is up to code as well as all fire inspection repairs to bring everything up to code. Main sewer line and SW sewer line to the main both have been cleared and several water lines fully replaced. These apartments currently have a 58% vacancy rate and current gross income of $151,740 with a potential of $367,200! With freshly updated apartments and Wichita State nearby, the potential is definitely there. Are you up for the challenge?

Listed by Keller Williams Signature Partners

At a Glance

Status
Active
MLS ID
593067
Type
Apartment Complex
Year Built
1968
Lot
acres
Neighborhood
Ridgecrest Addition
County
Sedgwick
Area
418
School District
Wichita School District (USD 259
Elementary
Gordon Parks
Middle School
Truesdell
High School
South

Location

Wichita 67219 Ridgecrest Addition 2600 N Grove St

Property Details

Exterior Details
Lot Size
77630
Roof
Composition
Interior Details
Appliances
Dryer, Over/Range, Refrigerator, Washer
Basement
None
Basement Finish
None
Cooling
Other/See Remarks
Flood Insurance
Unknown
Heating
Other/See Remarks
Property Details
Above Grade Source
Court House
HOA
No
Owner Paid Expenses
Electric, Gas, Lawn Maintenance, Trash, Water/Sewer
Ownership
Individual
Tax Specials Yearly
468
Tax Year
2020
Tenant Paid Expenses
None
Total Tax Specials
468
Utilities
Natural Gas, Public, Sewer

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