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$ 695,000
Est. payment | /mo
6,100 SqFt
$ 695,000
Est. payment | /mo
6,100 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 6,100 sqft
Price per Sqft $113
MLS Listing ID 166170
Year Built 1964
Tax Year 2025
Property Sub-Type Multi Family
Source lbor
Property Description
Rare opportunity to own a well-maintained 7-unit investment property in a convenient Lawrence location! This income-producing property features six 2-bedroom, 1-bath apartments plus a separate studio house with an attached 1-car garage, offering an attractive mix of rental options. Current rents range from $795-$950/month with approximately $5,815 in monthly gross income ($69,780 annually). One of the 2-bedroom units has been recently remodeled, providing additional upside for future rent growth. The approximately 5,600 sq. ft. brick apartment building also includes a rare 1,700 sq. ft. unfinished basement with shop space and mechanical area—an ideal setup for storage, maintenance, and property management. The detached approximately 500 sq. ft. studio house adds flexibility and additional rental appeal. Whether you're expanding your portfolio or purchasing your first multifamily investment, this property offers strong cash flow, a desirable unit mix, and long-term value in the Lawrence rental market.
Location
State KS
Rooms
Basement Full, Unfinished
Others
Ownership Private
Acceptable Financing New Loan, Cash
Listing Terms New Loan, Cash
Listed by REECENICHOLS PREFERRED REALTY
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