The Tyler District Multifamily Portfolio 5 Multifamily Properties Offered at $4,500,000 in Topeka, KS

The Tyler District Multifamily Portfolio presents a rare opportunity to acquire a dense, well-maintained, and strategically located collection of 75 units in the heart of downtown Topeka, just steps from the Kansas State Capitol. Spanning five distinct assets—Capital Suite Apartments, Stanleigh Hall Apartments at both 915 and 917 SW Tyler, Lemoine Apartments, and the Franklin Apartments—this portfolio combines strong historical occupancy, consistent capital improvement, and an all-inclusive utility model that streamlines operations and stabilizes tenant demand.
Ownership has invested heavily in the long-term durability of the properties, completing more than $900,000 in capital improvements since 2016. Across the portfolio, recent upgrades include new roofs, extensive HVAC replacements, updated windows, refreshed flooring and hallways, new fencing and sidewalks, new hot water tanks, upgraded security systems with DVR cameras, fire alarm monitoring, and comprehensive master key conversions. Unit interiors have been improved through ongoing full turns as vacancies occur, allowing rent growth without the need for major future capital outlays.
A broad range of floor plans—from studios to two-bedroom units—offers a stable tenancy mix, with historical occupancy averaging roughly 98 percent. Residents benefit from immediate walkability to restaurants, retail, transit, and essential services. Each building includes dedicated laundry access, enclosed courtyards, or private outdoor spaces, and several assets offer garage or covered parking that can be further monetized. Additional upside remains through rental mark-to-market opportunities, conversion of the Capital Suite storeroom back into a rentable apartment, increased parking income, and alignment of select buildings with internal rent averages.
The portfolio operates as a dependable, low-maintenance investment with simple mechanical systems, individually metered utilities in select assets, and efficient operational footprints. With a combined asking price of $4,500,000, strong in-place cash flow, and cap rates ranging from 6.64 percent under management to 7.62 percent self-managed, this offering delivers both immediate yield and long-term value creation in one of Topeka’s most stable rental corridors.