REO Sale: Timberlee Apartments | Vacant, Value-Add Upside

Highlights:

• Vacant Delivery Offers a True Blank Canvas: No in-place tenants or evictions to manage, so a buyer can set the renovation and lease-up plan.
• Spacious Townhome-Style Multifamily Asset: Townhome-style layouts give residents a house-like feel that stands apart from typical apartments.
• Family-Oriented Mix of Larger Floor Plans: A mix weighted toward two- and three-bedroom homes targets a deep and stable renter demand pool.
• Clear Value-Add Path to Stabilized Income: Most units can reach market rents with moderate renovation, creating real upside for an operator.
• Quality Construction and Utility Efficiency: Solid bones, hardwood floors, and separately metered utilities support efficient operations.
• Affordable State Capital Rental Market: Topeka offers steady renter demand anchored by government, healthcare, and education employers.

Description:

View details and diligence materials on RI Marketplace:
https://rimarketplace.com/auction/3386/multifamily/topeka/ks?utm_source=brevitas&utm_medium=paid_listing&utm_campaign=december2_2026&utm_content=multifamily_3386

Brokered by SVN Encompass Commercial and powered by RealINSIGHT Marketplace, Timberlee Apartments at 341 SE Lawrence Street in Topeka, Kansas, is a 102-unit townhome-style multifamily community offered fully vacant via REO auction. Set on a spacious site with ample parking, the property features a family-oriented unit mix weighted toward two- and three-bedroom homes with large floor plans that give residents a house-like living experience. Current ownership has cleaned out and secured the buildings, giving a buyer a true blank slate with no tenants or evictions to manage. The asset retains solid underlying construction, including hardwood floors and separately metered gas and electric service. Most units can achieve market rents through moderate renovation, while select units and building systems will require more extensive work, positioning the property for a comprehensive value-add and lease-up strategy. Topeka, home to the Kansas State Capitol, offers an affordable entry point with steady rental demand supported by government, healthcare, and education employment. The offering is well suited to an experienced, well-capitalized operator seeking a hands-on repositioning opportunity in a stable, income-focused market.


Bidding Opens
Dec 01 1:00 AM
Bidding Closes
Dec 03 1:00 AM

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