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MultiFamily Mansion on Sherman 512 E Sherman St

8 Unit Block of Flats £315,151 (£39,394/Unit) Hutchinson, KS 67501

Investment Highlights

  • 100% Occupancy
  • Management in place
  • Low Maintenance

Executive Summary

This former mansion has been a rental property for over 50 years! Currently at 100% occupancy. It will bring an annual income of $65,700! Nearly all units have undergone extensive upgrades over the last year. There is additional income potential with the three detached structures on the property, which could bring in an additional $200-$300 per month once updated! This is a great opportunity to own a beautiful property with loads of historical character!

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income £52,419 £7.89
Other Income - -
Vacancy Loss - -
Effective Gross Income £52,419 £7.89
Taxes £2,702 £0.41
Operating Expenses £12,068 £1.82
Total Expenses £14,771 £2.22
Net Operating Income £37,648 £5.67

Financial Summary (Actual - 2023)

Gross Rental Income
Annual £52,419
Annual Per SF £7.89
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £52,419
Annual Per SF £7.89
Taxes
Annual £2,702
Annual Per SF £0.41
Operating Expenses
Annual £12,068
Annual Per SF £1.82
Total Expenses
Annual £14,771
Annual Per SF £2.22
Net Operating Income
Annual £37,648
Annual Per SF £5.67

Property Facts

Price £315,151 Building Class C
Price Per Unit £39,394 Lot Size 0.62 AC
Sale Type Investment Building Size 6,640 SF
No. Units 8 Average Occupancy 100%
Property Type Residential Number of Floors 3
Property Subtype Apartment Year Built/Renovated 1909/2024
Apartment Style Single Family Home Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Price £315,151
Price Per Unit £39,394
Sale Type Investment
No. Units 8
Property Type Residential
Property Subtype Apartment
Apartment Style Single Family Home
Building Class C
Lot Size 0.62 AC
Building Size 6,640 SF
Average Occupancy 100%
Number of Floors 3
Year Built/Renovated 1909/2024
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
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PROPERTY TAXES

Parcel Number 134-18-0-20-19-005.00 Total Assessment £13,169
Land Assessment £251 Annual Taxes £2,702 (£0.41/sf)
Improvements Assessment £12,918 Tax Year 2023

PROPERTY TAXES

Parcel Number
134-18-0-20-19-005.00
Land Assessment
£251
Improvements Assessment
£12,918
Total Assessment
£13,169
Annual Taxes
£2,702 (£0.41/sf)
Tax Year
2023
(620) 615-6179

Contact

  • Logan Leuenberger
    Logan Leuenberger
  • Plaza Astle Realty Inc

  • Listing ID: 34279493

  • Date on Market: 23/12/2024

  • Last Updated:

  • Address: 512 E Sherman St, Hutchinson, KS 67501

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© 2024 CoStar Group

MultiFamily Mansion on Sherman | 512 E Sherman St
(620) 615-6179 x

MultiFamily Mansion on Sherman | 512 E Sherman St

Logan Leuenberger

(620) 615-6179

(620) 615-6179

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