High-Yield 8.33% CAP Rate – Fully Leased 12-Unit Portfolio Maximize your ROI with this turnkey 12-unit multifamily portfolio. Comprised of three well-maintained four-plex buildings on a single parcel, this property offers an exceptional 8.33% CAP rate at the $900,000 asking price. Stable Income: 100% occupancy with an annual Net income of $75,000. Tenant Demand: All units are high-demand 2-bedroom, 1-bathroom layouts. Convenience: On-site parking (1 space/unit) plus ample street parking. Low Vacancy Risk: Diversified across three buildings, providing a resilient income stream with rents currently ranging from $675–$750/month. Perfect for the seasoned investor looking for immediate cash flow or a 1031 exchange. Don’t miss this rare opportunity to acquire a high-performing asset in a steady rental market.
Active
$900,000
1646 S Fern St #1658, Wichita, KS 67213
24beds
--baths
9,936sqft
Multi Family
Built in 1980
-- sqft lot
$-- Zestimate®
$91/sqft
$-- HOA
What's special
- 138 days |
- 163 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Dave Brown 316-636-2323,
Berkshire Hathaway PenFed Realty
Source: SCKMLS as distributed by MLS GRID,MLS#: 669023
Loading...
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 24
Heating
- Forced Air, Natural Gas
Cooling
- Electric
Appliances
- Included: Dishwasher, Disposal, Range, Refrigerator
Features
- Flooring: Carpet, Tile
- Basement: None
- Has fireplace: No
Interior area
- Total interior livable area: 9,936 sqft
Property
Parking
- Total spaces: 12
- Parking features: 1 per Unit, Paved, On Street
Details
- Parcel number: 0871293101201009.00
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Other
- Property subtype: Multi Family
Materials
- Brick Veneer, Frame
- Roof: Composition
Condition
- Year built: 1980
Utilities & green energy
- Gas: Natural Gas Available
- Water: Public
- Utilities for property: Natural Gas Available
Community & HOA
Community
- Subdivision: PRINCESS ADDITION
HOA
- Has HOA: No
Location
- Region: Wichita
Financial & listing details
- Price per square foot: $91/sqft
- Annual tax amount: $8,594
- Date on market: 3/3/2026
- Cumulative days on market: 125 days
- Ownership: Individual
- Tenant pays: Electricity, Gas, Water/Sewer
Estimated market value
Not available
Estimated sales range
Not available
$729/mo
Price history
Price history is unavailable.
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Stanley-Aley
Nearby schools
GreatSchools rating
- 3/10Stanley Elementary SchoolGrades: PK-5Distance: 0.2 mi
- 2/10Hamilton Middle SchoolGrades: 6-8Distance: 1.2 mi
- 1/10West High SchoolGrades: 9-12Distance: 0.9 mi
Schools provided by the listing agent
- Elementary: Stanley
- Middle: Hamilton
- High: West
Source: SCKMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
- $---- bd-- ba21k sqft1646 S Fern Ave #1646-1650-1658, Wichita, KS 67213Sold
- $450,4008 bd4 ba1.6k sqft1646 S Fern Ave #1, Wichita, KS 67213Off Market
- $--2 bd1 ba700 sqft1646 S Fern Ave #11162243, Wichita, KS 67213Off Market
- $--2 bd1 ba700 sqft1646 S Fern Ave #11120734, Wichita, KS 67213Off Market
- $--2 bd1 ba833 sqft1646 S Fern St APT 106, Wichita, KS 67213Off Market
- $133,3002 bd1 ba-- sqft1646 S Fern St APT 105, Wichita, KS 67213Off Market
- $--2 bd1 ba833 sqft1646 S Fern St APT 205, Wichita, KS 67213Off Market
- $--2 bd1 ba-- sqft1646 S Fern St APT 201, Wichita, KS 67213Off Market
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
