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  • $349,900

    400 E Sherman Ave, Hutchinson, KS 67501

    --beds
    --baths
    3,410sqft
    : 
    $2,443/mo
    Get pre-qualified
    Multi Family
    Built in 1900
    -- sqft lot
    $-- Zestimate®
    $103/sqft
    $-- HOA

    What's special

    Desirable corner lot
    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
    |
    112
    |
    3
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    LORI J FRANK 620-664-2742,

    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

        Not available

        Estimated sales range

        Not available

        $1,189/mo

        Price history

        DateEventPrice
        3/27/2026Listed for sale$349,900+149.9%$103/sqft
        Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID #54397 Report a problem
        5/24/2022Listing removed--
        Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID #45666 Report a problem
        2/1/2022Listed for sale$140,000$41/sqft
        Source: Mid Kansas MLS & Prairie Land Realtors as distributed by MLS GRID #45666 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$3,521 +5.3%$18,841 +3.7%
        2024$3,343 +47.2%$18,175 +69.8%
        2023$2,270 +9.2%$10,706 +14.9%
        2022$2,078 $9,315 +21.1%
        2021-- $7,693 +12.6%
        2020$1,772 +3%$6,831
        2019$1,720 +3.5%$6,831 -38.5%
        2018$1,661 +5.2%$11,105 +74.6%
        2017$1,580 +6.7%$6,359 +1.7%
        2016$1,481 +5.8%$6,252 +2%
        2015$1,399 -3.4%$6,130 -7.8%
        2014$1,448 -12.3%$6,647 -13.6%
        2013$1,650 +4.6%$7,694
        2012$1,578 +0.3%--
        2011$1,573 -12.5%$7,394
        2010$1,798 --
        2009-- $8,855 -7.7%
        2008-- $9,591 +3.1%
        2007-- $9,303 +20.7%
        2006-- $7,705 +20.8%
        2005-- $6,378 +18.8%
        2004-- $5,370 -0.6%
        2003-- $5,405 +0.8%
        2002-- $5,362 +7.7%
        2000-- $4,977
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 67501

        Getting around

        78 / 100
        Very Walkable
        48 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • District: McCandless

        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.

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