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16-Unit Apartment Complex 1220 E Broadway St

16 Unit Apartment Building $1,050,000 ($65,625/Unit) 8% Cap Rate Newton, KS 67114

Apartment Buildings Kansas Newton 1220 E Broadway St, Newton, KS 67114

Investment Highlights

  • Close Proximity to Interstate and Highway Systems
  • Near Public Elementary School and Middle School

Executive Summary

100% Occupied
Roof and windows approximately 10-years old
15 new air handlers installed in 2021 & 2022
5 new compressor units installed since 2020
All units have been upgraded, including flooring, electrical, plumbing, and appliances

Attachments

1220 E. Broadway, Newton Brochure

Property Facts

Price $1,050,000 Apartment Style Low Rise
Price Per Unit $65,625 Building Class C
Sale Type Investment Lot Size 0.78 AC
Cap Rate 8% Building Size 10,184 SF
Sale Conditions 1031 Exchange Average Occupancy 100%
No. Units 16 No. Stories 2
Property Type Multifamily Year Built/Renovated 1974/2022
Property Subtype Apartment Parking Ratio 1.87/1,000 SF
Price $1,050,000
Price Per Unit $65,625
Sale Type Investment
Cap Rate 8%
Sale Conditions 1031 Exchange
No. Units 16
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.78 AC
Building Size 10,184 SF
Average Occupancy 100%
No. Stories 2
Year Built/Renovated 1974/2022
Parking Ratio 1.87/1,000 SF

Unit Amenities

  • Air Conditioning
  • Heating
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PROPERTY TAXES

Parcel Number 095-16-0-10-25-006.00-0 Improvements Assessment $48,287
Land Assessment $1,571 Total Assessment $49,858

PROPERTY TAXES

Parcel Number
095-16-0-10-25-006.00-0
Land Assessment
$1,571
Improvements Assessment
$48,287
Total Assessment
$49,858
(316) 263-7242 x7

Contact

  • Listing ID: 33367335

  • Date on Market: 10/1/2024

  • Last Updated:

  • Address: 1220 E Broadway St, Newton, KS 67114

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16-Unit Apartment Complex | 1220 E Broadway St
(316) 263-7242 x 7

16-Unit Apartment Complex | 1220 E Broadway St

Ben Reed

(316) 263-7242

x7

(316) 263-7242 x7

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