515 Roosevelt St, Sabetha, KS 66534

Discover a rare investment opportunity with this well-established, fully rented 36-unit apartment complex located in the thriving community of Sabetha, Kansas. Built in 2000 and meticulously maintained, this property offers a diverse unit mix, including (12) 2-bedroom, 1.5-bath townhouse apartments, (12) 2-bedroom, 1-bath apartments, and (12) 3-bedroom, 2-bath apartments. Each of the 36 units comes with a dedicated garage space, washer and dryer hookups, and a fully equipped kitchen featuring a dishwasher, refrigerator, and oven/range. The complex spans nearly 6 acres and includes over 46,000 square feet of finished living space, over 10,000 square feet of garage space, and a 1,282-square-foot building used for offices and maintenance. Recent major updates include new exterior paint of the entire facility in 2019, all roofs replaced in 2017, some units have new(er) flooring, and hot water heaters and HVAC units have been upgraded as needed. Residents enjoy a beautifully landscaped setting with lush green lawns and shared amenities such as a playground, basketball court, charcoal grills, and ample seating areas. With a strong local economy boasting a 2:1 job-to-resident ratio, the complex maintains over 95% occupancy and has a waiting list for new tenants-testament to the high demand for quality rental housing in the area. Long-term tenants and ongoing updates to individual units further highlight the stability and care of this property. Recent capital improvements include over $40,000 in pavement upgrades, ensuring a turnkey experience for the next owner. Ideally situated near parks, ballfields, a splash park, walking trails, and just blocks from downtown Sabetha, this property represents an exceptional opportunity for investors seeking immediate cash flow and long-term value. A seasoned property manager is available to assist in a smooth ownership transition.