2510 & 2520 E Lincoln St

Description

Prime Investment Opportunity Boulevard Plaza Apartments for Sale! Located in southeast Wichita, Boulevard Plaza Apartments presents a rare opportunity for investors seeking a high-performing asset with solid rental income. This property consists of two 17-unit apartment buildings situated on a spacious 1-acre corner lot. The complex is surrounded by mature trees, a landscaped courtyard, and fencing. There is a total of 34 units, offering a mix of 1-bedroom and 2-bedroom apartments. Each building has (5) 1-bedroom units and (12) 2-bedroom units. Almost all the tenants are on month-to-month leases, providing flexibility for rent adjustments. The gross rental income for 2023 was an impressive $261,000, with a strong YTD income for 2024 (through September) at $213,405. Only 1 vacant unit, ensuring a high occupancy rate and consistent cash flow. Key features: Over 50 parking spaces Utility/Laundry rooms on each floor, with a service provider contract in place with Jetz Laundry The two-bedroom units feature private balconies, several of which have been recently rebuilt Convenient access to major highways like I-135 and Kellogg, making commuting easy With strong financials and low vacancy rates, Boulevard Plaza Apartments is an exceptional investment opportunity!