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Silver Lake Cottages 308 Chestnut St 10 Unit Apartment Building $460,000 ($46,000/Unit) Silver Lake, KS 66539
Investment Highlights
- Ten Charming Cottages on a Single Parcel
- On-site Parking
- Value-add Opportunity
- On-site Laundry Room
- One of Only a Few Rental Properties in Silver Lake, Kansas
Executive Summary
This charming 10-unit multifamily in Silver Lake, Kansas consists of ten total cottages across five buildings. All units are one bedroom and one bathroom, originally constructed in the 1930s with enduring character. The smaller units do well in Silver Lake, attracting a broad tenant base that includes single professionals, couples, and downsizing seniors seeking affordable, low-maintenance living.
Silver Lake’s proximity to Topeka enhances the property’s appeal by offering residents convenient access to larger employment centers, healthcare, retail, and amenities—while still enjoying the affordability and community feel of a smaller town. This dynamic supports steady rental demand from tenants who work in Topeka or the surrounding area but prefer more cost-effective housing options. In markets like Silver Lake, well-maintained multifamily assets often face limited competition, positioning investors to benefit from consistent cash flow. Manage this property for operational efficiency and consider adding some furnished rentals.
308 Chestnut St offers both immediate income and long-term upside for investors seeking dependable returns in a stable Midwest market.
Silver Lake’s proximity to Topeka enhances the property’s appeal by offering residents convenient access to larger employment centers, healthcare, retail, and amenities—while still enjoying the affordability and community feel of a smaller town. This dynamic supports steady rental demand from tenants who work in Topeka or the surrounding area but prefer more cost-effective housing options. In markets like Silver Lake, well-maintained multifamily assets often face limited competition, positioning investors to benefit from consistent cash flow. Manage this property for operational efficiency and consider adding some furnished rentals.
308 Chestnut St offers both immediate income and long-term upside for investors seeking dependable returns in a stable Midwest market.
Property Facts
| Price | $460,000 | Building Class | C |
| Price Per Unit | $46,000 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 6,000 SF |
| No. Units | 10 | Average Occupancy | 60% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1930 |
| Apartment Style | Garden | ||
| Zoning | RA1 - Rural Agriculture District | ||
| Price | $460,000 |
| Price Per Unit | $46,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 60% |
| No. Stories | 1 |
| Year Built | 1930 |
| Zoning | RA1 - Rural Agriculture District |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 500 - 600 |
1 1
Somewhat walkable
20/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 082-09-0-40-17-011-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $25,278 |
Property Taxes
Parcel Number
082-09-0-40-17-011-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$25,278
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Silver Lake Cottages | 308 Chestnut St
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