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407 S Hydraulic Ave

Wichita, KS 67211
  • $334,900
  • STATUS: Active
  • MLS #: 639735
UPDATED: 170 min ago
$334,900
  • 0
    BEDS
  • 0.32
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1966
County:

School Ratings & Info

Listing information © 2024 South Central Kansas MLS.
Listing provided courtesy of Megan Rae Niedens of McCurdy Real Estate & Auction, LLC OFF: 316-867-3600 .




Description

Invest in this prime commercial property located just south of downtown and close to E. Kellogg. The building encompasses 4,725 squarefeet and includes two separate tenant spaces, currently generating an annual revenue of $32,400.This versatile property offers anexcellent opportunity to expand your investment portfolio with a steady cash flow. Unit 407 S. Hydraulic has a 3-year lease expiring8/31/2027.Tenant pays $0 per month for September and October of 2024, $1,000 per month for November and December, then $1,850 for each month thereafter through August of 2025. Year two: commencing on September 1, 2025, rents will increase to a rate of $1,900 per month and Year three: Commencing on September 1, 2026 rents will increase to a rate of $1,960 per month. The tenant is responsible for paying any increase in taxes from when the lease commences.The tenantpay for all utilities. Unit 411S. Hydraulic is rented for $850 per month until 11/30/2024 with a $850 security deposit.The tenant has the option to extend this lease for one year at $850 per month with a written 60-day notice, or go month-to-month with a new monthly rent amount of $900.The tenant is responsible for paying any increase in taxes from when the lease commences.The tenantpay for all utilities. The property features a large paved parking lot withover 20 spaces and is situated in a desirable location with close proximity to E. Kellogg, providing easy access. It is zoned for limitedcommercial use and sits on a 0.32-acre lot, making it an ideal addition to your investment portfolio. Recent updates to the propertyinclude two new HVAC units installed in 2024 for Unit 407, and a new HVAC unit installed in 2022 for Unit 411. Unit 407 also receivednew vinyl plank flooring in 2023. Unit 411 has a new electric hot water heater (40 gallons). Both units were upgraded with new ceilingand LED lighting in 2023, as well as new emergency lighting in 2022. Don't miss out on this great investment opportunity!

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This information is not verified for authenticity or accuracy, is not guaranteed and may not reflect all real estate activity in the market. ©2024 South Central Kansas MLS. All rights reserved. IDX information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-11-10T00:01:04.113.
www.coshrealestateservices.com/homes/151107434
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407 S Hydraulic Ave Wichita, KS 67211

  • Price: $334,900
  • Status: Active
  • On Site: Days
  • Updated: 170 min ago
  • MLS #: 639735
0
Beds
0
Baths
0
½ Baths
0.32
Acres
1966
Built
Neighborhood:
Burrs
County:
Sedgwick
Property Description
Invest in this prime commercial property located just south of downtown and close to E. Kellogg. The building encompasses 4,725 squarefeet and includes two separate tenant spaces, currently generating an annual revenue of $32,400.This versatile property offers anexcellent opportunity to expand your investment portfolio with a steady cash flow. Unit 407 S. Hydraulic has a 3-year lease expiring8/31/2027.Tenant pays $0 per month for September and October of 2024, $1,000 per month for November and December, then $1,850 for each month thereafter through August of 2025. Year two: commencing on September 1, 2025, rents will increase to a rate of $1,900 per month and Year three: Commencing on September 1, 2026 rents will increase to a rate of $1,960 per month. The tenant is responsible for paying any increase in taxes from when the lease commences.The tenantpay for all utilities. Unit 411S. Hydraulic is rented for $850 per month until 11/30/2024 with a $850 security deposit.The tenant has the option to extend this lease for one year at $850 per month with a written 60-day notice, or go month-to-month with a new monthly rent amount of $900.The tenant is responsible for paying any increase in taxes from when the lease commences.The tenantpay for all utilities. The property features a large paved parking lot withover 20 spaces and is situated in a desirable location with close proximity to E. Kellogg, providing easy access. It is zoned for limitedcommercial use and sits on a 0.32-acre lot, making it an ideal addition to your investment portfolio. Recent updates to the propertyinclude two new HVAC units installed in 2024 for Unit 407, and a new HVAC unit installed in 2022 for Unit 411. Unit 407 also receivednew vinyl plank flooring in 2023. Unit 411 has a new electric hot water heater (40 gallons). Both units were upgraded with new ceilingand LED lighting in 2023, as well as new emergency lighting in 2022. Don't miss out on this great investment opportunity!
Exterior Features

Construction Materials Brick FullMetal Overhead Doors None Parking Features Parking LotParking to 25Paved Roof Flat

Interior Features

Cooling Central AirElectric Flooring Concrete SlabOther - See Remarks Heating Forced AirGas

Property Features

Building Area Total 4725 Current Use Salon Electric Three Phase Lease Term Existing Leases Loading Dock None Location Freestanding Miscellaneous Features Security Lights Ownership Corporate Property Sub Type Retail Road Frontage Type City Arterial Sidewall Height 11 Ft to 13 Ft Stories Total 1 Tax Annual Amount 4354 Tax Year 2023 Transaction Type For Sale Utilities GasElectricCity WaterCity SewerSeparate Meters Zoning Limited Comm

Listing courtesy of Megan Rae Niedens of McCurdy Real Estate & Auction, LLC: OFF: 316-867-3600 .


This information is not verified for authenticity or accuracy, is not guaranteed and may not reflect all real estate activity in the market. ©2024 South Central Kansas MLS. All rights reserved. IDX information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2024-11-10T00:01:04.113.
 
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COSH Real Estate Services
1356 N Emporia St
Wichita KS, 67214

Listing information © 2024 South Central Kansas MLS.
Listing provided courtesy of Megan Rae Niedens of McCurdy Real Estate & Auction, LLC OFF: 316-867-3600 .