This is a 13 unit apartment complex. It includes one 3 story building with 12 units and 1 cottage in separate building. This complex is located within blocks of the local hospital, grocery store, local cafe, fast food, and recreation center in the quaint town of Burlington Ks. Also located a few miles from Wolf Creek Nuclear Plant (a major employer in the area).
Please contact Victor Edelmand for details.
A great value add property. Strong income potential with proper management and could obtain 100% occupancy. 3 units were recently remodeled, but 3 units could be updated. There is certainly room for improvement with upgrades and rent could be increased by $100 to $125 per unit per month.
With proper management and upgrades, this could be a great investment opportunity for you.
714 N. Second Street - Burlington KS 66839
Apartment building - real estate
Primary building has 12 units with 11,450 square feet
2 bedroom 1 bath units with rental income of $400 to $425 per month
Secondary building features a cottage.
Built in 1971
Renovated in 2017
Wood frame construction
15 parking space
List price $325,00
Cap Rate 13%
Occupancy rate 75%
Actual financials from 2018 are available