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501 Main St - 501 Main St 17 Unit Apartment Building Offered at $450,000 at a 12.22% Cap Rate La Crosse, KS 67548
Investment Highlights
- Newly Renovated Units
- New Plumbing and Electrical
Executive Summary
Exceptional Stabilized Investment Opportunity in Central Kansas
17 Units - Thoroughly renovated in 2026
Well-built &-maintained 17-unit multifamily asset located 30 minutes south of a large university, Fort Hays State, with an enrollment of over 14,000 students
On-site maintenance technician and leasing agent living nearby.
Unit mix of sixteen (16) studio units and one (1) one-bedroom / one-bath unit
Functional floor plans, ample on-site parking, and a laundry room to provide the owner with additional income.
New Electrical and Plumbing systems
Value-add potential through a targeted repositioning strategy towards Section 8 and furnished rentals
Projections indicate the opportunity to immediately operate at a 12% cap rate and 24% cash on cash return
17 Units - Thoroughly renovated in 2026
Well-built &-maintained 17-unit multifamily asset located 30 minutes south of a large university, Fort Hays State, with an enrollment of over 14,000 students
On-site maintenance technician and leasing agent living nearby.
Unit mix of sixteen (16) studio units and one (1) one-bedroom / one-bath unit
Functional floor plans, ample on-site parking, and a laundry room to provide the owner with additional income.
New Electrical and Plumbing systems
Value-add potential through a targeted repositioning strategy towards Section 8 and furnished rentals
Projections indicate the opportunity to immediately operate at a 12% cap rate and 24% cash on cash return
Financial Summary (Pro Forma - 2026) 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 16 | - | 400 |
| 1+1 | 1 | - | 600 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 088-33-0-40-21-006.00-0 | Improvements Assessment | $5,878 (2025) |
| Land Assessment | $382 (2025) | Total Assessment | $6,260 (2025) |
Property Taxes
Parcel Number
088-33-0-40-21-006.00-0
Land Assessment
$382 (2025)
Improvements Assessment
$5,878 (2025)
Total Assessment
$6,260 (2025)
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Skylight Realty
501 Main St - 501 Main St
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