2510 - 2520 E Lincoln St Wichita, KS 67211

Listing details for 2510 - 2520 E Lincoln St, Wichita, KS 67211 : Prime Investment Opportunity – Boulevard Plaza Apartments for Sale! OFFER DEADLINE: We are in receipt of multiple offers and Seller is calling for highest and best by NOON this Friday, March 28th at 2pm. PRICE REDUCTION $100,000 to $1,850,000 OWNER CARRY OPTION: - Seller will entertain an owner carry with $550,000 down, interest only payments for 5 years at 8.5% interest rate. 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 2024 was an impressive $288,210, and 2023 income was $261,000. Only 1 vacant unit, ensuring a high occupancy rate and consistent cash flow. Key features: • Over 50 parking spaces • Utility/Laundry room in each building, 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 Recent capital improvements per Seller include a new roof on building 2520 at a cost of $62,500 and includes a 2-year labor/10-year material warranty. Additionally, approximately 6 of the decks/balconies have been replaced at a cost of approximately $36,000. With strong financials and low vacancy rates, Boulevard Plaza Apartments is an exceptional investment opportunity!