Lakeview Apartments 920 East St 20 Unit Apartment Building $939,000 ($46,950/Unit) 10.60% Cap Rate Emporia, KS 66801

Lakeview Apartments in Emporia, Kansas is a prime investment featuring four buildings and 20 two-bedroom, one-bath units. The property has a stable tenant base, thanks to a proactive manager who has overseen extensive renovations and upgrades, resulting in high occupancy and strong rental collections.
Units offer open floor plans, updated kitchens, central heating and air (except three units), and modern appliances. Rents range from $550 to $775 per month, with tenants paying all utilities except trash. The complex is ideally located near Emporia State University, shopping, and downtown, ensuring steady rental demand.
Financial highlights include a $939,000 list price, current gross monthly rent of $11,825 (with realistic potential up to $12,540), annual NOI of $99,492, and a 9.5% cap rate. There’s room for growth with unused green space for more units or amenities like a pool or community center. Off-street parking, secure mailboxes, and a strong local economy make this property ideal for investors seeking reliable cash flow and future upside. Contact Victor Edelman at Tri County Real Estate for details.