$995,000
$205K PRICE DROP

Estimated payment $6,375/month

Total Views 166,401
24 Beds
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • 0.35 Acre Lot
  • Concrete Flooring
  • Garden Home
  • Laundry Facilities

About This Home

Investment Opportunity: 24-Unit Apartment Complex in Prime Topeka Location This 24-unit apartment complex offers immediate cash flow and long-term upside, with 21 units currently occupied and 3 units vacant. Featuring a mix of one-bedroom and two-bedroom units, the property generates a solid monthly rental income of $14,005. With potential of $16,800 by bringing the average rent to $700 a door from $666 a door. Some Utilities paid by tenants. Tenants enjoy off-street parking and access to a central laundry facility, adding convenience and value to their living experience. Located in the heart of Topeka—just minutes from Topeka High School, the State Capitol, Evergy Plaza, and the shops and restaurants along revitalized Kansas Avenue—this complex is perfectly positioned for renters seeking walkable access to the city’s top amenities. A strong performer in a prime area, this property is a smart addition to any investment portfolio.

Listing Agent

John Ringgold

KW One Legacy Partners, LLC License #00051961 Listed on: 04/18/2025

KW One Legacy Partners, LLC

Property Details

Home Type

  • Apartment

Est. Annual Taxes

  • $12,951

Year Built

  • Built in 1977

Home Design

  • Garden Home
  • Frame Construction
  • Composition Roof

Laundry

  • Dryer
  • Washer

Parking

  • 24 Parking Spaces
  • Paved Parking

Schools

  • Meadows Elementary School
  • Robinson Middle School
  • Topeka High School

Additional Features

  • Dishwasher
  • Concrete Flooring
  • 24 Bedrooms
  • 0.35 Acre Lot

Listing and Financial Details

  • Assessor Parcel Number R26215

Community Details

Overview

  • 24 Units
  • Original Town Subdivision

Amenities

  • Laundry Facilities

Building Details

  • 21 Leased Units
  • 2 Vacant Units
  • Gross Income $183,060

Property Details

Home Type

Apartment

Est. Annual Taxes

$12,951

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Year Built: 1977
  • Property Sub Type: Apartment
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.35
  • Co List Office Mls Id: SUN359
  • Co List Office Phone: 785-246-8075
  • List Price: 995000
  • Subdivision Name: Original Town
  • Architectural Style: Garden
  • Special Features: None

Interior Features

  • Appliances: Refrigerator, Range, Dishwasher, Washer, Dryer
  • Owner Pays: Water, Trash Collection
  • Total Bedrooms: 24
  • Flooring: Slab
  • NumberOfEfficiencies: 24
  • UnitFeatures: Formal Living Room,Liv/Din Combo,In-Bldg Utility Room,Common Outside Entry,Private Bath

Exterior Features

  • Roof: Composition
  • Building Features: Central Laundry
  • Construction Type: Frame

Garage/Parking

  • Parking Features: Paved, On Site
  • Total Parking Spaces: 24

Utilities

  • Cooling: Electric
  • Heating: Electric
  • Sewer: Public Sewer
  • Water Source: Public
  • AreUtilitiesOnYN: Yes

Schools

  • Elementary School: Meadows Elementary School/USD 501
  • High School: Topeka High School/USD 501
  • Middle Or Junior School: Robinson Middle School/USD 501

Lot Info

  • Zoning: M-3 Multi-Family
  • Parcel #: R26215
  • FloodZone: Unknown
  • AssessedImpValue: $727,600
  • ConformsToZoningYN: Yes
  • ApproxSqFtImprovements: 15,077

Rental Info

  • Lease Term: Other
  • AvailableForLeaseYN: No

Multi Family

  • Number Of Units Vacant: 2
  • Gross Income: 183060
  • Number Of Units Leased: 21
  • Number Of Units Total: 24
  • NumberOfUnitsOccupied: 22

Tax Info

  • Tax Annual Amount: 12950.68
  • GeneralTax: 12950.68
  • SpecTax: 0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/25/2025 08/25/25 For Sale $995,000 0.0% --
08/11/2025 08/11/25 Pending -- -- --
07/29/2025 07/29/25 Price Changed $995,000 -17.1% --
04/18/2025 04/18/25 For Sale $1,200,000 +65.5% --
04/29/2022 04/29/22 Sold -- -- -- View Prior Sale
03/14/2022 03/14/22 Pending -- -- --
03/14/2022 03/14/22 For Sale $725,000 +28.3% --
02/20/2018 02/20/18 Sold -- -- -- View Prior Sale
12/19/2017 12/19/17 Pending -- -- --
09/01/2017 09/01/17 For Sale $565,000 +13.2% --
07/29/2016 07/29/16 Sold -- -- -- View Prior Sale
04/29/2016 04/29/16 Pending -- -- --
04/20/2016 04/20/16 For Sale $499,000 -- --
Source: Sunflower Association of REALTORS®

About the Listing Agent

John Ringgold

KW One Legacy Partners, LLC

(785) 450-8166

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John became a top real estate agent, by using systems and setting goals, he has developed his business into a successful real estate machine. With his knowledge of technology in real estate and his patience and understanding of daily real estate issues, John increased his experience by becoming the broker of a large real estate office in Topeka, Kansas.

He moved to become the President / CEO of Real Estate Business Resources, and had the opportunity to research and learn about new

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Source: Sunflower Association of REALTORS®

MLS Number: 238979

Sunflower Association of REALTORS®