Hutchinson ■ KANSAS ■ apartment property value / investors BOLO

[Adam Henson]

Posting this either for anyone who might want it, and more importantly for input from everyone on whether or not it's worth this much 

http://www.loopnet.com/Listing/904-30th-Ter-Hutchi...

     Should I be interested in this even though it's a "Class C"? If it gets some rehab and updating would it then become a class B? 

$31k per door seems like a lot for being in Hutchinson but it's probably around normal these days, right?

As I understand it this is half 1BD and half 2BD..  The interesting thing is, the neighborhood is nowhere near as bad as the photographs look. 

It seems to me that the geographical location somewhat justifies the price... or is that ignorant?? I welcome your input! 

I'm too new to all of this to be taking on the ownership role at a 1977 built property and I am not currently in a  position to actually buy this thing,  so feel free to bypass me- it's all yours :) 

   I e-mailed asking a few questions and I'm waiting to hear back now. I just wanted to know if it has central HVAC and if there are any major issues, roof or plumbing or sewer or electrical. Etc.

The thing I keep wondering about is, would this be worth upgrading and updating in order to get the rents up there? Even though it looks like that and is 1977 built?

   If so it would possibly be a sick deal. There's no way that area doesn't support better rents, meanwhile I can't imagine their current vr