Wichita, KS Occupied Duplex for sale -- I've owned since 2006

[Shane H.]

Hello all,

I'm getting ready to list a duplex I've owned since 2006 in Wichita, KS.  I'd say it's located in a B grade area -- most homes and duplexes surrounding this property were built appx 1978 to 1984 if I had to venture a guess.  A prominent local home builder/developer Nies Homes (look them up on the web) built the majority of the multi family properties surrounding this one and still owns a # of them in the neighborhood today.   (I'd say there's appx 5-7% multi family properties in the neighborhood consisting of nice 4 plexes and duplexes, the rest are single family -- a couple apartment complexes are on the edge of the neighborhood but in my view are separate.

I put the price range of $190k to 210k as there are still 3-4 major capital improvements left that I have not completed --- I can sell as is --- $190k - or complete the rest of them and sell what should be a worry free property for a # of years for $210k

Cap improvements left:

9 windows and 2 patio doors (all original - working on getting quotes to have them replaced)
1 HVAC system is original - still working fine but at 35 years old you never know when it will go
front porch steps need to be tore out and replaced as they have settled a bit
Exterior paint (holding off on this until the windows are replaced)  I would repaint with Porter Paints Acri-Shield -- I've used it on my house and it's held up EXTREMELY well -- I've got the colors picked out and they look good and are very neutral.

#'s at a glance

$21480               Yearly Gross rent
   1900                Property tax
     900                Insurance
    1200                Lawn Care (this varies but is appx this much year over year - I provide this per my lease)

You'd need to build in your own cap ex figures and vacancy expenses and management if you do not plan on managing yourself.  On that note I'd love to continue managing the property for the new owner if they would so desire for a 9% fee.  I've already established the relationships with the tenants and everything could continue business as usual.  I use Buildium as my property management platform, so the only thing that would change would be I'd take a management fee and the rest of the rent would be electronically deposited to you.

Location:

Appx 1 mile from WalMart Neighborhood Grocery, Dillons (Kroger chain here) & WalGreens
Appx 1 mile from the main gate to McConnell AFB (the majority the new refueling tanker fleet will be stationed here and millions upon millions have been spent building new hangers for the planes, our AFB is here to stay for the foreseeable long term...the majority of the present tanker fleet is already stationed here along with a Guard unit responsible for IT/Drone activity)

Appx 1 mile from US 54 / Kellogg -- the main East/West Highway

Beech Elementary school located in the neighborhood

Bike Paths/Jogging paths just outside the neighborhood that ties you into the main city trail system

Starbucks and a host of other chains/restaurants nearby

I'd be more than happy to provide more info, please let me know if you're interested and I'll do my best to provide what info you are looking for.  I'm not providing the exact address as I do not want anyone disturbing my tenants - so for now if you'd like to see the appx location, google 2100 N White Oak Cir; Wichita, KS 67207   If you are a serious buyer you will be provided with the exact address and all financials.

Thanks for looking