Ask Ridge Estes
Introducing the Lincoln Investment Portfolio, a rare opportunity to acquire a 15-unit residential investment portfolio consisting of seven duplexes and one single-family residence located throughout established Wichita neighborhoods. The portfolio has undergone extensive renovations, with the buildings being taken down to the studs and comprehensively rebuilt, including significant updates to the major building systems. This substantial renovation reduces deferred maintenance while providing investors with a portfolio positioned for long-term ownership.
The portfolio currently generates $147,240 in annual gross rental income with current monthly rental income of $12,270. Seller financials indicate projected annual rental income of approximately $173,040 through natural lease turnover and market rent adjustments, creating additional upside for future ownership. Current annual cash flow is approximately $143,556.84, with projected annual cash flow of approximately $169,356.84 following rental adjustments.
Offered at $1,700,000, the portfolio presents an attractive financing profile with an illustrative Debt Service Coverage Ratio (DSCR) of approximately 1.45 based on a conventional financing scenario with 30% down. This provides investors with strong in-place cash flow while maintaining the opportunity for future appreciation and rental growth.
Unlike a traditional apartment complex, this portfolio distributes rental income across eight separate buildings, providing diversified income streams and reducing concentration risk. The properties are located in established neighborhoods with consistent rental demand and offer investors a compelling combination of stable occupancy, immediate income, and long-term appreciation potential.
Financial information has been provided by the seller and is believed to be reliable but has not been independently verified. Buyers should independently verify all financial information, leases, operating expenses, and property condition during the due diligence period.
Ridge Estes, REALTOR
Commercial Real Estate Professional
Red Cedar Land Company
Cell: (620) 518-0838
Email: ridge@redcedarland.com
Directions:
From US-54/Kellogg, take the Edgemoor exit and proceed south on S. Edgemoor Street. Turn right (west) onto E. Lincoln Street. The first property is located at the corner of E. Lincoln Street and S. Terrace Drive (905 S. Terrace Dr.). The remaining portfolio properties are located along E. Lincoln Street, S. Terrace Drive, and the parallel E. Bayley Street corridor directly behind the Lincoln properties.
Showing Instructions:
All properties are tenant occupied. Please do not disturb tenants. Showings are by appointment only with a minimum of 24-48 hours' advance notice. Proof of funds or lender pre-approval may be required prior to scheduling. Listing agent must be present or coordinate all showings.
Information contained herein is believed to be reliable but is not guaranteed and has been provided by the Seller and other sources. All financial information, rent rolls, leases, operating statements, square footage, property condition, taxes, zoning, occupancy, and any other information deemed material to the transaction should be independently verified by Buyer during the due diligence period. Buyer shall rely solely upon its own inspections and investigations. Property is offered subject to prior sale, withdrawal from the market, or change in price without notice.
Buyer and Buyer's Agent are responsible for independently verifying all information deemed material to the transaction.
