Realtyna\MlsOnTheFly\Components\CloudPost\SubComponents\RFClient\SDK\RF\Entities\RFProperty {#7068 +post_id: "53559" +post_author: 1 +"ListingKey": "PRA54397" +"ListingId": "54397" +"PropertyType": "Residential Income" +"PropertySubType": "5 Family or More" +"StandardStatus": "Active" +"ModificationTimestamp": "2026-03-31T14:42:22Z" +"RFModificationTimestamp": "2026-03-31T14:46:30Z" +"ListPrice": 349900.0 +"BathroomsTotalInteger": 0 +"BathroomsHalf": 0 +"BedroomsTotal": 0 +"LotSizeArea": 0 +"LivingArea": 3410.0 +"BuildingAreaTotal": 0 +"City": "Hutchinson" +"PostalCode": "67501" +"UnparsedAddress": "400 E Sherman Ave, Hutchinson, Kansas 67501" +"Coordinates": array:2 [ 0 => -97.924199 1 => 38.05248 ] +"Latitude": 38.05248 +"Longitude": -97.924199 +"YearBuilt": 1900 +"InternetAddressDisplayYN": true +"FeedTypes": "IDX" +"ListOfficeName": "Coldwell Banker Americana, Realtors" +"ListAgentMlsId": "173" +"ListOfficeMlsId": "4" +"OriginatingSystemName": "MKMLS" +"PublicRemarks": "Turnkey 6-Unit Investment Opportunity – 10% Cap Rate – Hutchinson, KS. Exceptional opportunity to acquire a high-performing 6-unit multifamily property in the heart of Hutchinson. Located at 400 E. Sherman Ave, this asset delivers immediate cash flow with an attractive 10% cap rate, making it an ideal addition to any investor’s portfolio. The majority of units have been recently remodeled, offering updated interiors that appeal to today’s tenants while minimizing near-term maintenance costs. This positions the property for stable occupancy and continued rental demand. Situated on a desirable corner lot with convenient access to shopping, dining, and major roadways, the location supports consistent tenant retention and long-term growth. Investors will appreciate the strong in-place income along with additional upside through continued rent optimization. Whether you're scaling your portfolio or entering the multifamily space, this property checks the boxes for both cash flow and appreciation potential. Highlights: 10% Cap Rate 6 income-producing units Majority of units recently remodeled Strong, consistent rental demand Value-add potential through rent growth Centrally located with easy access to amenities Opportunities like this—offering both strong returns and improved condition—are increasingly hard to find. Don’t miss your chance to secure a cash-flowing asset in a stable Midwest market." +"AboveGradeFinishedAreaSource": "CH" +"Appliances": "Electric Oven,Refrigerator,Smoke/Heat/CoDetector" +"ArchitecturalStyle": "Two or More Stories" +"AssociationAmenities": array:1 [ 0 => "Porch" ] +"Basement": array:2 [ 0 => "Partial" 1 => "Entrance-EXTERIOR" ] +"BelowGradeFinishedAreaSource": "CH" +"ConstructionMaterials": array:1 [ 0 => "Frame" ] +"Cooling": "Electric,Ceiling Fan(s)" +"CountyOrParish": "Reno" +"CreationDate": "2026-03-27T14:44:38.993381+00:00" +"DocumentsChangeTimestamp": "2026-03-28T06:32:22Z" +"Electric": array:1 [ 0 => "Separate Meters" ] +"ElementarySchoolDistrict": "Mc Candless" +"Heating": "Natural Gas" +"RFTransactionType": "For Sale" +"InternetAutomatedValuationDisplayYN": true +"InternetConsumerCommentYN": true +"InternetEntireListingDisplayYN": true +"ListAgentDirectPhone": "620-663-8391" +"ListAgentEmail": "lorifrankrealtor@gmail.com" +"ListAgentFirstName": "LORI" 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Overview
- 5 Family or More, Residential Income
- 10
- 10
- 1986
Description
Excellent opportunity to acquire a fully leased 10-unit apartment complex in a premier location with close proximity to the Hutchinson medical corridor. This well-maintained property offers immediate cash flow with a strong, long-term rental history and consistent tenant demand. The property has been meticulously maintained, with numerous major improvements completed in recent years including new windows, siding, roof, and multiple mechanical system updates, helping minimize near-term capital expenditures for a new owner. Investors will appreciate the value-add potential, as cosmetic upgrades over time could support future rent increases and improved returns. A unique feature of the property is the six attached garage spaces with private exterior entrances, separate from the apartment units. These garages provide additional income through separate rental agreements, while tenants also contribute through a utility reimbursement structure, further supporting operational efficiency. With its prime location near major employers, stable occupancy, and additional revenue streams, this property presents a rare opportunity for both immediate income and long-term upside. Member of the selling entity is a licensed real estate broker in the State of Kansas.
Address
Open on Google Maps-
Address: 1701 E 24th Ave
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City: Hutchinson
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Zip/Postal Code: 67502
Details
Updated on March 21, 2026 at 6:01 am-
Property ID HZ54350
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Price $1,000,000
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Bedrooms 10
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Bathrooms 10
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Garage Size x x
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Year Built 1986
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Property Type 5 Family or More, Residential Income
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Property Status Active, For Sale
Additional details
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Listing Terms Cash, Conventional
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Roof Composition
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Sewer Public Sewer, Meter-MASTER
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Cooling Electric
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Heating Natural Gas
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County Reno
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Property Type Residential Income
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Parking Paved, Detached Garage, On Street, Off Street
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Elementary School Union Valley
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Middle School Hutchinson
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High School Hutchinson
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Architectural Style Two or More Stories
Mortgage Calculator
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Down Payment
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Loan Amount
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Monthly Mortgage Payment
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Property Tax
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Home Insurance
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Monthly HOA Fees