Excellent investment property in 6 unit apartment building
116 N. 8th Ave., Hill City, Kansasland Realty & Auction. NEW LOWERED PRICE! $340,000 This is a dynamic investment opportunity with little competition in the area. This ground level apartment building has 6, 500+ sq ft apartments. Each apartment has a full kitchen with a stove, refrigerator, and dishwasher. A dining/living area, 2 bedrooms, 1 full bathroom, and a stackable washer and dryer. There is off street parking in front of the units. The building has concrete flooring, ceiling fans in each room, recessed lighting, individual heat/air units, and separate electric billing which tenants are responsible for. The property has had a recent insurance inspection of the roof and exterior with showed no visible damage. There would be little or no repairs needed to start your investment. The units stay occupied, with several applications in waiting. Currently rents are month to month or weekly, at a rate of $575/month. With the new lowered price of $340,000 this could make a return on your money at a gross 10%. An added bonus to this real estate investment is the opportunity to build 2 other buildings. One site already has rough in plumbing. With enough affordable housing a problem in rural Kansas you can see that this is a great chance to invest and have at an incredible value.
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