1255 Tyler StTopeka, KS 66612

For Sale
$299,000

Fourplex, remodeled, strong cash flow.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fully renovated fourplex located at 1255 SW Tyler St, Topeka, KS 66612. The property, built in 1925 and extensively remodeled in 2024, boasts 3,950 square feet situated on a 0.28-acre lot. The building, classified as a Class B multifamily property (converted house), features four units: two 3-bedroom, 1-bathroom apartments and two 2-bedroom, 1-bathroom apartments. Currently operating at 75% occupancy, the property generates a substantial net operating income (NOI) of $31,723, with a total monthly rent of $3,500 ($900 for 3-bed units and $850 for 2-bed units). The asking price is $299,000, representing a price per square foot of $75.70 and a price per unit of $74,750. The property's strong cash flow is further supported by a 10.61% capitalization rate. Zoned M-2, this stabilized investment offers immediate returns and significant long-term appreciation potential within Topeka's growing real estate market. The property's modern amenities and appealing interiors attract high-quality tenants, ensuring a reliable income stream. This turnkey investment presents a rare opportunity to acquire a well-maintained property in a desirable location with potential for further rent optimization and increased returns.

Highlights

  • Fully remodeled fourplex in Topeka, KS with two 2-bed/1-bath and two 3-bed/1-bath units.
  • Strong current cash flow with upside potential through rent increases.
  • Topeka's rental market is experiencing growth, offering a stable investment opportunity.
  • Well-maintained property with potential for long-term appreciation.

Property Details for 1255 Tyler St

Property type
Multifamily properties, Residential income properties
Square Feet
3,950 SF
Class
B
Year Built/Renovated
1925/2024
Buildings
1
Stories
2
Lot Size (sq. ft)
12,197 SF
Units
4

Location Insight

City
Topeka
County
Shawnee
State
Kansas
Latitude
39.043488541914
Longitude
-95.684504361191
1255 Tyler St, Topeka, Kansas

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1255 Tyler St
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