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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
- Value add through cosmetic updates
- Pool entirely brand new, most major CapEx items already completed
- Clubhouse that could be additional amenities
Executive Summary
Strong occupancy with 97.2% occupied
Value add opportunity with cosmetic upgrades to increase rental rates
Vinyl siding, roof, windows all have been replaced
Pool decking repoured, new equipment, new concrete base and new vinyl liner Fall 2025
Value add for club house renovation to create new amenities or additional 2 bedroom unit
Value add opportunity with cosmetic upgrades to increase rental rates
Vinyl siding, roof, windows all have been replaced
Pool decking repoured, new equipment, new concrete base and new vinyl liner Fall 2025
Value add for club house renovation to create new amenities or additional 2 bedroom unit
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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