Description
See Attached Documents for full legal description. Lincoln Investment Portfolio | 15 Units | 8 Buildings | Wichita, Kansas Introducing the Lincoln Investment Portfolio, a rare opportunity to acquire a 15-unit residential investment portfolio consisting of seven duplexes and one single-family residence located throughout established Wichita neighborhoods. The portfolio has undergone extensive renovations, with the buildings being taken down to the studs and comprehensively rebuilt, including significant updates to the major building systems. This substantial renovation reduces deferred maintenance while providing investors with a portfolio positioned for long-term ownership. The portfolio currently generates $147,240 in annual gross rental income with current monthly rental income of $12,270. Seller financials indicate projected annual rental income of approximately $173,040 through natural lease turnover and market rent adjustments, creating additional upside for future ownership. Current annual cash flow is approximately $143,556.84, with projected annual cash flow of approximately $169,356.84 following rental adjustments. Offered at $1,700,000, the portfolio presents an attractive financing profile with an illustrative Debt Service Coverage Ratio (DSCR) of approximately 1.45 based on a conventional financing scenario with 30% down. This provides investors with strong in-place cash flow while maintaining the opportunity for future appreciation and rental growth. Unlike a traditional apartment complex, this portfolio distributes rental income across eight separate buildings, providing diversified income streams and reducing concentration risk. The properties are located in established neighborhoods with consistent rental demand and offer investors a compelling combination of stable occupancy, immediate income, and long-term appreciation potential. Investment Highlights 15 Residential Rental Units 8 Buildings (7 Duplexes & 1 Single-Family Residence) Extensively Renovated - Buildings Taken Down to the Studs Major Mechanical, Electrical, Plumbing, and Structural Components Updated Reduced Deferred Maintenance Current Gross Rental Income: $147,240 Annually Projected Gross Rental Income: Approximately $173,040 Annually Estimated DSCR: 1.45 (Illustrative 30% Down Financing) Strong Cash Flow with Rental Growth Potential Established Wichita Rental Market Excellent Opportunity for Private Investors or 1031 Exchange Buyers Financial information has been provided by the seller and is believed to be reliable but has not been independently verified. Buyers should independently verify all financial information, leases, operating expenses, and property condition during the due diligence period.
Details
| MLS # | 677932 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1941 |
| Days On Site | 26 |
| Listing Provided By | Red Cedar Land Company | Ridge Estes |
Features
| SQ Feet | 19,848 |
|---|---|
| Units | 15 |
| Acreage | 60548.00 |
Interior
| Flooring | Other |
|---|
Parking
| Parking Features | 2 per Unit, Paved |
|---|
Taxes
| Property | 1064 |
|---|
Area Information
| State | KS |
|---|---|
| County | Sedgwick |
| City | Wichita |
| Zip Code | 67218 |
| Area | SCKMLS |
| Community Name | HILLTOP MANOR SUBDIVISION |
| School District | Southeast |
| Elementary School | Jefferson |
| High School | Southeast |
| Listing VS Median (in HILLTOP MANOR SUBDIVISION) | |
Price: $1,700,000 low | high Med: $1,700,000 sqft: 19,848 low | high Med: 19,848 $ / sqft: $86 low | high Med: $86 On site: 26 low | high Med: 26 | |
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Learn More About This Property
| State | KS |
|---|---|
| County | Sedgwick |
| City | Wichita |
| Zip Code | 67218 |
| Area | SCKMLS |
| Community Name | HILLTOP MANOR SUBDIVISION |
| School District | Southeast |
| Elementary School | Jefferson |
| High School | Southeast |
| Listing VS Median (in HILLTOP MANOR SUBDIVISION) | |
Price: $1,700,000 low | high Med: $1,700,000 sqft: 19,848 low | high Med: 19,848 $ / sqft: $86 low | high Med: $86 On site: 26 low | high Med: 26 | |