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509 Cherry Ln
Newton, KS 67114
MILLERS CROSSING · Multifamily Property For Sale
·
46 Units
PROPERTY FACTS
| No. Units | 46 | Building Size | 31,800 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1975/2017 |
| Building Class | C | Parking Ratio | 1.45/1,000 SF |
| Lot Size | 3.10 AC | ||
| Zoning | R-3 | ||
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.10 AC |
| Building Size | 31,800 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2017 |
| Parking Ratio | 1.45/1,000 SF |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
ABOUT 509 CHERRY LN , NEWTON, KS 67114
Description The Waller Group is pleased to announce this 46 unit add value property. Owner purchased in 2011 and has completed significant improvements to the quality of the property, including new low flow toilets in all of the units as part of the water conservation program and installed new paint and carpet in 12 units. Units are equipped with washer/dryer hookups and current owner pays water and trash. There is tremendous upside potential in completing renovations to the remaining units and raising rents. The property is conveniently located next to two parks - Plumbrook Park and Ashbury Park, as well as Newton Country Club. This property is a great asset to fix and hold. Owner will continue to manage property after closing for 6% of gross rent collected. The building can be considered for the Neighborhood Revitalization Program, which issues tax credits for renovating properties around Newton with more information on the city website at www.newtonkansas.com.
PROPERTY TAXES
| Parcel Number | 094-20-0-30-03-001.00-0 | Improvements Assessment | $85,084 |
| Land Assessment | $2,524 | Total Assessment | $87,608 |
PROPERTY TAXES
