14 2Nd AveHutchinson, KS 67501

This stunning 7-story, 32,420 square foot apartment building, constructed in 1930, presents a unique investment opportunity in Hutchinson, Kansas. Currently operating at 94% occupancy, this 33-unit multifamily property boasts a strong pro-forma NOI of $74,961 and an attractive 8.26% cap rate. Located at 14 E 2nd Ave, in Reno County, this historic building retains many original features, including stonework, marble floors, and period entryways, blending historical charm with modern upgrades. Recent renovations include a new elevator and chiller, as well as significant improvements to the laundry room, lobby, and hallways. The property offers significant upside potential through increased rents, leasing of available commercial space, and filling the remaining 6% vacancy. Financial records are available upon request. The projected occupancy date for full capacity is September 24, 2024. This property is situated within a qualified opportunity zone, offering additional investment incentives. The asking price for this exceptional income-producing asset is $1,500,000.