Last list price
1245 N Broadway Ave Wichita, KS 67214
Midtown Neighborhood
4
Beds
--
Bath
2,054
Sq Ft
7,136
Sq Ft Lot
About This Home
As of July 2018Incredible investment opportunity!!! This property is offered separate and together with 1251 N. Broadway Ave, MLS#505814, and can be purchased at a package price. This 2,054 SF Victorian home built in 1894 has been extensively remodeled in 2003-2004 and converted into a 6-unit apartment complex. An 800 SF Duplex is on the same lot with (2) 1-Bedroom units, providing a total of 8 units. Both are meticulously built and maintained. The main front Victorian home has 4-Studios and (2) 1-Bedroom units. Notes Per Seller - In the remodel, every piece of the interior (except the wood staircase and wood floors) were removed. Contractors installed a new automatic fire sprinkler system, a separate central heating and air unit for each apartment with duct work, new wiring for each room, all new plumbing, sinks, vanities, tub/shower surrounds, double pane low-e windows in every window opening, doors, frames, locks, all new sheetrock in the inside and exterior paint. The homes have Bosch Tankless Water Heaters. All updated plumbing is white plastic Peck piping tied to a Maniblock style system in each basement. Therefore, any sink, faucet, toilet, etc. can be shut off individually without turning off the water to the entire house. Both are heavily insulated and efficient heating and cooling. The roofs on both Victorian homes are Class 4 impact and wind resistant dimensional shingles by Malarkey. The exteriors of both homes and duplex were scraped, primed and painted with Sherwin Williams Duration Exterior Paint. The driveways have been pored with high PSI concrete and new basement floors have been dug out and poured. The basement and front concrete at this particular home are brown stamped decorative concrete. The Victorian homes are heavy 18 gauge commercial metal and metal frames with Schlage high security locks. Many of the furnaces and air conditioners have a 10 year parts and labor warranty that have been recently purchased. The majority of the rental amounts have not been changed since 2004, so this would be an opportunity for a profit increase. Most units are occupied with a long term tenant history. The total monthly rental income is currently $3,284. Individual unit rental income: #101 (Basement) $450/Mo, #201 (1-BR) $529/Mo, #203 (Studio) $369/Mo, #301 (Studio) $369/Mo, #303 (Studio) $369/Mo, #305 (Studio) $369/Mo, #8 (Rear Duplex) $529/Mo, #7 (Rear Duplex) $300/Mo. Average monthly expenses: Taxes-$85 and Utilities-$860.*Verify schools.
Last Agent to Sell the Property
McCurdy Real Estate & Auction, LLC License #00032084 Listed on: 06/10/2015
Property Details
Home Type
- Apartment
Year Built
- Built in 1894
Lot Details
- 7,136 Sq Ft Lot
Parking
- 4 Parking Spaces
Home Design
- Converted Dwelling
- Frame Construction
- Composition Roof
Interior Spaces
- 2,054 Sq Ft Home
- 2-Story Property
- Apartment Living Space in Basement
- Oven or Range
Flooring
- Wood
- Tile
Schools
- Park Hill Elementary School
- Marshall Middle School
- North High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
Listing and Financial Details
- The owner pays for electric, gas, lawn maintenance, water/sewer
- Assessor Parcel Number 08712-41701109014.00
Community Details
Overview
- 8 Units
- Hyde & Ferrells Subdivision
Building Details
- Gross Income $3,284
Similar Homes in Wichita, KS
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/26/2018 07/26/18 | Sold | -- | -- | -- |
| 06/14/2018 06/14/18 | Pending | -- | -- | -- |
| 05/09/2018 05/09/18 | For Sale | $86,625 | -27.8% | $30 / Sq Ft |
| 10/05/2015 10/05/15 | Sold | -- | -- | -- |
| 09/03/2015 09/03/15 | Pending | -- | -- | -- |
| 06/10/2015 06/10/15 | For Sale | $120,000 | -- | $58 / Sq Ft |
Source: South Central Kansas MLS
Tax History Compared to Growth
Agents Affiliated with this Home
-
Rick Brock
Seller's Agent in 2018
Rick Brock
McCurdy Real Estate & Auction, LLC
(316) 683-0612
9 in this area
504 Total Sales
-
Alex Carbajal
Buyer's Agent in 2015
Alex Carbajal
RE/MAX Associates
(316) 288-9142
101 Total Sales
Map
Source: South Central Kansas MLS
MLS Number: 506000
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