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The Bluff Flats 644 N Bluff Ave 8 Unit Apartment Building $1,200,000 ($150,000/Unit) Wichita, KS 67208
EXECUTIVE SUMMARY
8-Unit Multifamily Investment Opportunity | Back on Market
This well-maintained 8-unit property is back on the market after a prior buyer was unable to secure financing. The property appraised at the contract price, confirming value.
The building underwent a comprehensive renovation approximately four years ago, including:
New windows, electrical, and plumbing
New AC units
New concrete and parking lot
Fully updated kitchens and bathrooms
Refinished original oak floors
Interior and exterior paint and updated fixtures throughout
Major capital improvements continue to reduce future risk:
2024: Main sewer line replaced from building to city main
2025: New furnaces installed at 646 Bluff
Unit mix:
4 two-bedroom units
4 one-bedroom units
Currently, three units operate as short-term rentals and are outperforming long-term rent rates, with strong forward bookings already in place for the coming months. One unit is vacant and available for immediate viewing, along with common areas. Remaining units may be shown with an acceptable LOI or executed contract.
This property offers a rare combination of stabilized condition, recent major systems replacement, and upside through continued or expanded short-term rental operations.
This well-maintained 8-unit property is back on the market after a prior buyer was unable to secure financing. The property appraised at the contract price, confirming value.
The building underwent a comprehensive renovation approximately four years ago, including:
New windows, electrical, and plumbing
New AC units
New concrete and parking lot
Fully updated kitchens and bathrooms
Refinished original oak floors
Interior and exterior paint and updated fixtures throughout
Major capital improvements continue to reduce future risk:
2024: Main sewer line replaced from building to city main
2025: New furnaces installed at 646 Bluff
Unit mix:
4 two-bedroom units
4 one-bedroom units
Currently, three units operate as short-term rentals and are outperforming long-term rent rates, with strong forward bookings already in place for the coming months. One unit is vacant and available for immediate viewing, along with common areas. Remaining units may be shown with an acceptable LOI or executed contract.
This property offers a rare combination of stabilized condition, recent major systems replacement, and upside through continued or expanded short-term rental operations.
PROPERTY FACTS
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 6,552 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2021 |
| Property Subtype | Apartment | Parking Ratio | 1.38/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 6,552 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2021 |
| Parking Ratio | 1.38/1,000 SF |
AMENITIES
UNIT AMENITIES
- Disposal
- Heating
- Tub/Shower
- Instant Hot Water
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Tennis Court
- Trash Pickup - Curbside
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,050 | - |
| 2+1 | 4 | $1,150 | - |
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PROPERTY TAXES
| Parcel Number | 126-14-0-43-04-003.00 | Improvements Assessment | $35,811 |
| Land Assessment | $2,818 | Total Assessment | $38,629 |
PROPERTY TAXES
Parcel Number
126-14-0-43-04-003.00
Land Assessment
$2,818
Improvements Assessment
$35,811
Total Assessment
$38,629
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The Bluff Flats | 644 N Bluff Ave
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