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Southgate Living Apartments 2331 S Cedar St 51 Unit Apartment Building $3,200,000 ($62,745/Unit) 5.50% Cap Rate Ottawa, KS 66067
Investment Highlights
- Current Cap Rate: 5.5% / Proforma Cap Rate: 11%
- Located just off the just off of the I-35 interchange
- An Offering Memorandum is included.
Executive Summary
This 44 unit Multi-Family property on the south side of Ottawa is available for sale. Recently renovated, the property is just off of the I-35 interchange, in close proximity to retail and commercial services. Currently 77% occupied, the property has plenty of upside potential for an investor-owner. An Offering Memorandum is included.
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Property Facts
| Price | $3,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $62,745 | Building Class | B |
| Sale Type | Investment | Lot Size | 2.11 AC |
| Cap Rate | 5.50% | Building Size | 36,614 SF |
| No. Units | 51 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $3,200,000 |
| Price Per Unit | $62,745 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.11 AC |
| Building Size | 36,614 SF |
| No. Stories | 3 |
| Year Built | 2025 |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- High Speed Internet Access
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Elevator
- Public Transportation
- Smoke Detector
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Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 136-13-0-00-02-005.00-0 | Improvements Assessment | $221,703 |
| Land Assessment | $50,790 | Total Assessment | $272,493 |
Property Taxes
Parcel Number
136-13-0-00-02-005.00-0
Land Assessment
$50,790
Improvements Assessment
$221,703
Total Assessment
$272,493
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Southgate Living Apartments | 2331 S Cedar St
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