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Pancake Flats 304 E Pancake Blvd 23 Unit Apartment Building $1,400,000 ($60,870/Unit) Liberal, KS 67901
Investment Highlights
- Full property conversion and renovation from hotel to apartments complete in 2026.
- Significant financial upside still available thru lease rate increases.
Executive Summary
Pancake Flats in Liberal, Kansas is a newly renovated 23 unit multifamily investment property. Every unit was renovated in 2025/2026 with new flooring, windows, A/C units, kitchen cabinets/countertops, and new appliances. Significant upside available thru lease rate increases, currently achieving $800-$925/mo for 1bed units, studios range $590-$790/month.
Property Facts
| Price | $1,400,000 | Building Class | C |
| Price Per Unit | $60,870 | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 23,000 SF |
| No. Units | 23 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 2025/2026 |
| Apartment Style | Low-Rise | Parking Ratio | 0.7/1,000 SF |
| Price | $1,400,000 |
| Price Per Unit | $60,870 |
| Sale Type | Investment |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 23,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 2025/2026 |
| Parking Ratio | 0.7/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 19 | $810.00 | 244 - 316 |
| 1+1 | 4 | $925.00 | 362 - 490 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 192-04-0-30-03-002.00-0 | Improvements Assessment | $69,990 |
| Land Assessment | $12,938 | Total Assessment | $82,928 |
Property Taxes
Parcel Number
192-04-0-30-03-002.00-0
Land Assessment
$12,938
Improvements Assessment
$69,990
Total Assessment
$82,928
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Contact the Sale Advisor
Pancake Flats | 304 E Pancake Blvd