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MultiFamily Mansion on Sherman 512 E Sherman St

8 Unit Apartment Building $395,000 ($49,375/Unit) Hutchinson, KS 67501

Apartment Buildings Kansas Hutchinson 512 E Sherman St, Hutchinson, KS 67501

Investment Highlights

  • 100% Occupancy
  • Management in place
  • Low Maintenance

Executive Summary

This former mansion has been a rental property for over 50 years! Currently at 100% occupancy. It will bring an annual income of $65,700! Nearly all units have undergone extensive upgrades over the last year. There is additional income potential with the three detached structures on the property, which could bring in an additional $200-$300 per month once updated! This is a great opportunity to own a beautiful property with loads of historical character!

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income $65,700 $9.89
Other Income - -
Vacancy Loss - -
Effective Gross Income $65,700 $9.89
Taxes $3,387 $0.51
Operating Expenses $15,126 $2.28
Total Expenses $18,513 $2.79
Net Operating Income $47,187 $7.11

Financial Summary (Actual - 2023)

Gross Rental Income
Annual $65,700
Annual Per SF $9.89
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $65,700
Annual Per SF $9.89
Taxes
Annual $3,387
Annual Per SF $0.51
Operating Expenses
Annual $15,126
Annual Per SF $2.28
Total Expenses
Annual $18,513
Annual Per SF $2.79
Net Operating Income
Annual $47,187
Annual Per SF $7.11

Property Facts

Price $395,000 Apartment Style Single Family Home
Price Per Unit $49,375 Building Size 6,640 SF
Sale Type Investment Average Occupancy 100%
No. Units 8 No. Stories 3
Property Type Multifamily Year Built/Renovated 1909/2024
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price $395,000
Price Per Unit $49,375
Sale Type Investment
No. Units 8
Property Type Multifamily
Property Subtype Apartment
Apartment Style Single Family Home
Building Size 6,640 SF
Average Occupancy 100%
No. Stories 3
Year Built/Renovated 1909/2024
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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(620) 615-6179

Contact

  • Logan Leuenberger
    Logan Leuenberger
  • Plaza Astle Realty Inc

  • Listing ID: 34279493

  • Date on Market: 12/23/2024

  • Last Updated:

  • Address: 512 E Sherman St, Hutchinson, KS 67501

The Multifamily Property at 512 E Sherman St, Hutchinson, KS 67501 is currently available for sale. Contact Plaza Astle Realty Inc for more information.

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MultiFamily Mansion on Sherman | 512 E Sherman St
(620) 615-6179 x

MultiFamily Mansion on Sherman | 512 E Sherman St

Logan Leuenberger

(620) 615-6179

(620) 615-6179

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