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Center Street Apartments 229 W 13th Ave 8 Unit Apartment Building $440,000 ($55,000/Unit) 7.25% Cap Rate Emporia, KS 66801
Investment Highlights
- Strong, reliable rental demand near Emporia State University and downtown employers.
- Solid, low-maintenance building with stable income and proven occupancy.
- Light value-add potential through simple interior upgrades and rent optimization
Executive Summary
The Center Street 8-Plex is a well-located multifamily asset offering dependable cash flow with clear room for continued rent growth. Situated near downtown Emporia and walkable to Emporia State University, the property attracts consistent tenant demand from students, young professionals. This solid brick building features eight spacious units with functional layouts and recent improvements, making it a high potential asset. With market rents continuing to trend upward in the area, the property presents an immediate opportunity for an investor to increase income through light value-add upgrades and ongoing management efficiencies. The Center Street 8-Plex offers a strong blend of location, stability and an ideal addition to any investment portfolio or a perfect entry point into the Emporia multifamily market.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $700.00 | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 192-10-0-20-13-005.00-0 | Total Assessment | $20,743 (2025) |
| Land Assessment | $7,044 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $13,699 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
192-10-0-20-13-005.00-0
Land Assessment
$7,044 (2025)
Improvements Assessment
$13,699 (2025)
Total Assessment
$20,743 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Center Street Apartments | 229 W 13th Ave
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