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Historic Heritage Hotel 244 E Long St 15 Unit Apartment Building $199,900 ($13,327/Unit) 25% Cap Rate Dighton, KS 67839
EXECUTIVE SUMMARY
The Historic Heritage Hotel was built in 1917 and enjoys constant occupancy from seasonal workers, travelers, and bicyclists(USBR) in Dighton, KS.
The charming property of 13,320 square feet includes 15 furnished rooms and a 2-bedroom, 1-bathroom manager's apartment. Recent updates include an elastomeric rubber roof liner, new fire alarms and smoke detectors in 2013, all windows replaced with double tilt-pane vinyl in 2012, high-efficiency digital heating/air conditioning units added in 2012, a digital telephone system, TVs in all rooms, front and side sidewalks replaced, software of the hotel. Has approximately 20 additional rooms that are not in use, which could easily be converted to apartments or additional rooms.
This is a great opportunity for Owner Operator to add their own creative touch or as an investment property, for a low price of $199,900 with financing options, which includes a 10% down payment and low monthly payments of $1,500.
Other potential uses:
- Long-term apartment rentals
- Retail space
- Meeting space
The charming property of 13,320 square feet includes 15 furnished rooms and a 2-bedroom, 1-bathroom manager's apartment. Recent updates include an elastomeric rubber roof liner, new fire alarms and smoke detectors in 2013, all windows replaced with double tilt-pane vinyl in 2012, high-efficiency digital heating/air conditioning units added in 2012, a digital telephone system, TVs in all rooms, front and side sidewalks replaced, software of the hotel. Has approximately 20 additional rooms that are not in use, which could easily be converted to apartments or additional rooms.
This is a great opportunity for Owner Operator to add their own creative touch or as an investment property, for a low price of $199,900 with financing options, which includes a 10% down payment and low monthly payments of $1,500.
Other potential uses:
- Long-term apartment rentals
- Retail space
- Meeting space
PROPERTY FACTS
| Price | $199,900 | Apartment Style | Low-Rise |
| Price Per Unit | $13,327 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 25% | Building Size | 13,320 SF |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1917 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C | ||
| Price | $199,900 |
| Price Per Unit | $13,327 |
| Sale Type | Investment |
| Cap Rate | 25% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 13,320 SF |
| No. Stories | 2 |
| Year Built | 1917 |
| Opportunity Zone |
Yes |
| Zoning | C |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 104-19-0-20-06-001.00-0 | Improvements Assessment | $36,883 |
| Land Assessment | $1,128 | Total Assessment | $38,011 |
PROPERTY TAXES
Parcel Number
104-19-0-20-06-001.00-0
Land Assessment
$1,128
Improvements Assessment
$36,883
Total Assessment
$38,011
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Morning Star Management
Historic Heritage Hotel | 244 E Long St
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