Boulevard Plaza | 2520 E Lincoln St
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Boulevard Plaza 2520 E Lincoln St
34 Unit Apartment Building $1,950,000 ($57,353/Unit) Wichita, KS 67211
Investment Highlights
- 3% Vacancy Rate
- Great Income!!!
- 34 Units
Executive Summary
Prime Investment Opportunity – Boulevard Plaza Apartments for Sale!
Located in southeast Wichita, Boulevard Plaza Apartments presents a rare opportunity for investors seeking a high-performing asset with solid rental income. This property consists of two 17-unit apartment buildings situated on a spacious 1-acre corner lot. The complex is surrounded by mature trees, a landscaped courtyard, and fencing.
There is a total of 34 units, offering a mix of 1-bedroom and 2-bedroom apartments. Each building has (5) 1-bedroom units and (12) 2-bedroom units. Almost all the tenants are on month-to-month leases, providing flexibility for rent adjustments. The gross rental income for 2023 was an impressive $261,000, with a strong YTD income for 2024 (through September) at $213,405. Only 1 vacant unit, ensuring a high occupancy rate and consistent cash flow.
Key features:
• Over 50 parking spaces
• Utility/Laundry rooms on each floor, with a service provider contract in place with Jetz Laundry
• The two-bedroom units feature private balconies, several of which have been recently rebuilt
• Convenient access to major highways like I-135 and Kellogg, making commuting easy
With strong financials and low vacancy rates, Boulevard Plaza Apartments is an exceptional investment opportunity!
Located in southeast Wichita, Boulevard Plaza Apartments presents a rare opportunity for investors seeking a high-performing asset with solid rental income. This property consists of two 17-unit apartment buildings situated on a spacious 1-acre corner lot. The complex is surrounded by mature trees, a landscaped courtyard, and fencing.
There is a total of 34 units, offering a mix of 1-bedroom and 2-bedroom apartments. Each building has (5) 1-bedroom units and (12) 2-bedroom units. Almost all the tenants are on month-to-month leases, providing flexibility for rent adjustments. The gross rental income for 2023 was an impressive $261,000, with a strong YTD income for 2024 (through September) at $213,405. Only 1 vacant unit, ensuring a high occupancy rate and consistent cash flow.
Key features:
• Over 50 parking spaces
• Utility/Laundry rooms on each floor, with a service provider contract in place with Jetz Laundry
• The two-bedroom units feature private balconies, several of which have been recently rebuilt
• Convenient access to major highways like I-135 and Kellogg, making commuting easy
With strong financials and low vacancy rates, Boulevard Plaza Apartments is an exceptional investment opportunity!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,950,000 | Building Class | C |
| Price Per Unit | $57,353 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 23,020 SF |
| No. Units | 34 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1967 |
| Apartment Style | Low Rise | Parking Ratio | 1.74/1,000 SF |
| Price | $1,950,000 |
| Price Per Unit | $57,353 |
| Sale Type | Investment |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 23,020 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 1.74/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Carpet
- Dining Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | - |
| 2+1 | 14 | - | - |
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PROPERTY TAXES
| Parcel Number | 128-27-0-13-06-014.00 | Improvements Assessment | $132,630 |
| Land Assessment | $1,403 | Total Assessment | $134,033 |
PROPERTY TAXES
Parcel Number
128-27-0-13-06-014.00
Land Assessment
$1,403
Improvements Assessment
$132,630
Total Assessment
$134,033
zoning
| Zoning Code | Multi Family & Gen Office (B Multi Family & General Office) |
| Multi Family & Gen Office (B Multi Family & General Office) |
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Boulevard Plaza | 2520 E Lincoln St
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