111 S Erpelding Avenue Leonardville, KS 66449

This is your chance to buy one of the best performing apartment buildings you'll find in the Manhattan area. Priced at a 9.87% capitalization rate and 10.38% cash-on-cash with nearly every unit having been remodeled in the past five years. Current rent income is $4,075/mo with 10 of 11 units occupie...d. Unit breakdown is 6 1-bedrooms and 5 2-bedrooms with coin-op laundry on site leased through Jetz. Each unit pays a $50/month utility fee. Landlord pays water/sewer (billed back to tenants through RUBS), propane (5 year-old tankless central water heater is the only propane appliance in the building), trash, common area electric and lawn. Eight of the 11 units have PTAC units in each room while the three basement units have traditional electric central heat/air. 7 of the 8 upstairs units have been remodeled in the last five years. Basement units built out from the studs three years ago. Call Scott or Keith today for more info. Continue reading