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1646/1658 S Fern Ave

$900,000

1646 South Fern Street, Wichita, KS 67213

Active
Last Updated: 06/29/2026

8.33

Cap Rate

75,009.22

NOI

Details:
Cap Rate:    8.33%
NOI:    $75,009.22
Building Size:    9,936 sqft
Lot Area:    0.4845 acres
Occupancy:    100%
Units:    12
Year Built:    1980
Floors:    2
Parking Spots:    12
Highlights:
  • The Asset: Twelve (12) uniform 2-Bedroom, 1-Bathroom units. This consistency simplifies maintenance and ensures a predictable leasing cycle.
  • Income Stability: Current rents range from $675 to $750, providing immediate cash flow with clear "value-add" potential to bring all units to the top-of-market rate.
  • Prime Corner Location: Occupying the NE corner of S Fern Ave, these buildings enjoy high visibility and a spacious, residential feel that attracts long-term tenants.
  • Strategic Location: Just blocks from Friends University and Newman University, and minutes from the Delano District. This is a high-demand rental corridor for students, healthcare workers, and downtown professionals.
  • Investment Snapshot: 3 Quadplexes | 12 Total Units | 100% 2BR/1BA Mix | Prime Corner Lot.
Description:

High-Yield 12-Unit Portfolio | 100% 2-Bedroom Mix | Near Universities
Seize a rare multi-family opportunity at the corner of S Fern and Merton. This portfolio consists of three (3) well-positioned quadplexes situated on two adjacent lots, offering a streamlined management experience and a consistent revenue stream.

Located on the NE corner of S Fern Ave and Merton Street

This property consist of three (3) quadplexes on two (2) adjacent lots. The property is located on the NE corner of S Fern Ave and Merton Street. The units are all 2 Bedroom 1 Bath. Rents range from $675 - $750 per month.

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