North Town Square Apts 

333 W 21th st Wichita Kansas 67203

North town square Apartments

Property Facts:

Price : 2.2M

No Unit : 80 (1Bed 43,Studio29,2Beds 8)

Price per Unit : $27,500

Sale Conditions : Good

Building Size :41,000sqft

Lot Size or 

Total Land Area: 1.38 Acres

Year Built:1980

No Stories:3F×2Blocks

Average Occupancy (Nov 30/2020) 68%(55/80units).2units(Office.,Owner)

2units will need to Renovations

Unit Amenities:

Window air conditioning &Heating  : PTAC electric

Kitchen : Electric Oven. Refrigator

Tile floors:VCT

Roof:Asphalt shingles almost new

Site Amenities:

Gated :3Exits wood and steel fence

Financial summary:

Gross Rental income :$420,000($35,000/M)

Total expenses:$72,000($6,000/M)

Net operating income:$348,000($29,000/M)

Conditions prices:3.2M(Cap rate 11.8%)

Firm as is prices:2.2M(Cap rate11.8%)-on processing renovate Nov30/2020

Investment highlights:

Brand new PTAC units(40units)

Brand new Refrigerator(40units)

Brand new Stove(40units)

Brand new Disposal(30units)

Brand new etc

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