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.
140 days
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112
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Zillow last checked:
Listing updated:
Listed by:
LORI J FRANK620-664-2742,
Coldwell Banker Americana, Realtors
Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID,MLS#: 54397
Facts & features
Interior
Heating
Natural Gas
Cooling
Electric, Ceiling Fan(s)
Appliances
Included: Electric Oven, Refrigerator
Features
Basement: Partial,Exterior Entry
Interior area
Total structure area: 3,410
Total interior livable area: 3,410 sqft
Property
Parking
Parking features: On Street
Features
Levels: Two or More Stories
Lot
Size: 7,405 Square Feet
Dimensions: 0.17 acre
Details
Parcel number: 126130102301100
Construction
Type & style
Home type: MultiFamily
Property subtype: Multi Family
Materials
Frame
Roof: Composition
Condition
Year built: 1900
Utilities & green energy
Electric: Separate Meters
Gas: Meter-SEPARATE, Tenant-Paid
Sewer: Public Sewer, Meter-MASTER
Water: Meter-MASTER
Community & HOA
Community
Security: Smoke/Heat/CoDetector
HOA
Amenities included: Porch
Location
Region: Hutchinson
Financial & listing details
Price per square foot: $103/sqft
Tax assessed value: $163,830
Annual tax amount: $3,521
Date on market: 3/27/2026
Listing terms: Cash,Conventional
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
$1,189/mo
Price history
Date
Event
Price
3/27/2026
Listed for sale
$349,900+149.9%$103/sqft
Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID #54397Report a problem
5/24/2022
Listing removed
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Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID #45666Report a problem
2/1/2022
Listed for sale
$140,000$41/sqft
Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID #45666Report a problem
Source: Mid Kansas MLS & Prairie Land Realtors 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.