Ask Ridge Estes
INVESTOR & BROKER OPEN HOUSE
Wednesday, June 10, 2026 | 10:00 AM - 2:00 PM CST
98% occupied 28-unit multifamily asset fully redeveloped to institutional-quality standards and situated on approximately 2.7± acres following the recent acquisition of adjacent land. Strategically located along Wichita's primary commercial corridor and directly adjacent to Newman University and Friends University.
Positioned on highly visible Kellogg frontage, Lofts by Viewpointe offers investors a rare combination of proven in-place cash flow and substantial future development upside. Originally converted from a commercial structure, the property has been completely rebuilt from the ground up with premium materials, modern infrastructure, and institutional-grade security systems throughout, delivering true "like-new" construction quality without the risk, timeline, and uncertainty associated with new development.
The asset consists of 28 upgraded residential units plus office income and has maintained approximately 98% occupancy. Based on seller-provided financials, the property generated approximately $347,925 in gross income and approximately $302,677 in net operating income during 2025. Current 2026 operating performance annualizes to approximately $313,025 in NOI, providing strong and stable in-place cash flow.
At the current asking price of $4,250,000, the property offers an in-place cap rate of approximately 7.12% and an estimated DSCR of approximately 1.29x based on 2025 actual performance.
Ownership has recently acquired approximately 0.81 additional acres, increasing the total site area to approximately 2.7± acres and creating a compelling future development opportunity.
Preliminary planning concepts indicate the potential for:
At current market rents of approximately $995/month for one-bedroom units and $1,295/month for two-bedroom units, the expansion concept could generate more than $1.5 million in additional annual revenue and position the property as a potential 136-unit multifamily community at full buildout, subject to zoning, engineering, permitting, utility capacity, construction feasibility, and all required approvals.
3000 W Kellogg presents a unique opportunity to acquire a stabilized, income-producing multifamily asset with immediate development upside. Combining proven operating performance, premium construction quality, strategic location, and expanded land control, the property offers investors both reliable current cash flow and a clear path toward future value creation in one of Wichita's most visible and desirable multifamily corridors.
Detailed financial information, rent rolls, and supporting documentation will be made available to qualified prospective purchasers upon request.
Ridge Estes
Commercial Real Estate Advisor
Red Cedar Land Co.
620-518-0838
ridge@redcedarland.com
redcedarland.com
Directions:
3000 W Kellogg Dr Wichita Kansas
Showing Instructions:
24 hour minimum notice to show as all units will be occupied.
E 65 FT S 125 FT LOT 22 & E 65 FT N100 FT LOT 24 & N 60 FT LOT 25 STEWART'S SUB. PIN: 00203130
LOTS 11-13-15-17-19 & 1/2 VAC ALLEYON E MT CARMEL AVE. GOLD DUST ADD. PIN: 00203202
LOTS 12-14-16-18-20 & 1/2 VAC ALLEY ON W CUSTER AVE. GOLD DUST ADD. PIN: 00203204
E 161.05 FT S 125 FT LOT 22 EXC E 65 FT & EXC BEG NW COR THEREOF TH S 42.53 FT, ELY 71.44 FT SELY 27.36 FT M/L N 60 FT W 96.05 FT TO BEG STEWARTS SUB. PIN: 30009229
TH PT S 125 FT LOT 22 EXC E 161.05 FT BEG 7 FT S NW COR LOT 22 TH S 30.5 FT ELY 141.56 FT N 42.53 FT W 141.05 FT TO BEG STEWARTS SUB. PIN: 30009228
TH PT S 125 FT LOT 22 EXC E 161.05 FT BEG 7 FT S NW COR LOT 22 TH S 30.5 FT TH ELY 141.56 FT N 42.53 FT W 141.05 FT TO BEG STEWARTS S PIN: 00203128
TH PT E 161.05 FT S 125 FT LOT 22 EXC E 65 FT DESCRIBED AS BEG NW COR THEREOF TH S 42.53 FT ELY 71.44 FT SELY 27.36 FT N 60 FT W 96.05 FT TO BEG STEWARTS SUB, PIN: 00203129
N 100 FT LOT 24 EXC E 65 FT & EXC W 65 FT STEWART'S SUB, PIN: 00203131
