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Riverside Village 103 E 7th Ave 36 Unit Apartment Building $2,950,000 ($81,944/Unit) 5.80% Cap Rate South Hutchinson, KS 67505
Investment Highlights
- Entire exterior vinyl siding replaced within the last 10 years, complemented by new windows and doors.
- Clubhouse remodeled to create flexible tenant amenities and potential revenue-enhancing features.
- Located in a growing South Hutchinson area near retail hubs such as Dollar General, McDonald's, and essential services, boosting renter demand.
- Both buildings recently upgraded with flat roofs for improved longevity and reduced future capital expenditure.
- Pool enhanced with full replacement equipment, adding appeal to residents.
- Recent thoughtful renovations and strong occupancy underscore stable cash flow and growth potential.
Executive Summary
Riverside Villages presents an outstanding multifamily investment opportunity in South Hutchinson, Kansas. This 36-unit property spans over 24,398 SF and sits on a substantial 38,850 SF lot, offering strong fundamentals for long-term value creation. Recently upgraded with modern amenities and building updates in 2019, the complex combines durability and functionality with enhanced appeal. With an impressive occupancy rate of approximately 90% and R-4 zoning, Riverside Villages is positioned for consistent income generation and future growth.
The property benefits from a prime location within South Hutchinson, a market seeing continued demand for quality rental housing. Proximity to major employers, retail centers, and transportation corridors strengthens its strategic positioning. Significant recent renovations, including updated vinyl siding and windows, new flat roofs, and remodeled interiors for added versatility in unit layouts, further amplify its operational competitiveness. Investors seeking a reliable cash-flowing asset with long-term upside will find Riverside Villages a compelling addition to their portfolio.
The property benefits from a prime location within South Hutchinson, a market seeing continued demand for quality rental housing. Proximity to major employers, retail centers, and transportation corridors strengthens its strategic positioning. Significant recent renovations, including updated vinyl siding and windows, new flat roofs, and remodeled interiors for added versatility in unit layouts, further amplify its operational competitiveness. Investors seeking a reliable cash-flowing asset with long-term upside will find Riverside Villages a compelling addition to their portfolio.
Financial Summary (Actual - 2025) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,950,000 | Building Class | C |
| Price Per Unit | $81,944 | Lot Size | 0.89 AC |
| Sale Type | Investment | Building Size | 27,120 SF |
| Cap Rate | 5.80% | Average Occupancy | 97% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1967/2013 |
| Property Subtype | Apartment | Parking Ratio | 2.21/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Price | $2,950,000 |
| Price Per Unit | $81,944 |
| Sale Type | Investment |
| Cap Rate | 5.80% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 27,120 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built/Renovated | 1967/2013 |
| Parking Ratio | 2.21/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Disposal
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Dining Room
- Family Room
- Linen Closet
- Window Coverings
Site Amenities
- Clubhouse
- Courtyard
- Pool
- Multi Use Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 18 | $679.00 | 554 |
| 2+1 | 18 | $799.00 | 700 |
Somewhat walkable
30/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 126-24-0-20-21-002.00 | Total Assessment | $118,312 |
| Land Assessment | $2,502 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $115,810 | Tax Year | 2025 |
Property Taxes
Parcel Number
126-24-0-20-21-002.00
Land Assessment
$2,502
Improvements Assessment
$115,810
Total Assessment
$118,312
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Riverside Village | 103 E 7th Ave
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