Register to Bid

ONLINE AUCTION - 12 UNIT MULTI FAMILY INVESTMENT NEAR DOWNTOWN WICHITA - VALUE ADD OPPORTUNITY - DOWNTOWN WICHITA - VACANT LOT INCLUDED. Bidding is now open and will close Friday, April 17th at 12:30 PM. Located at 632-638, 642-648 S Hydraulic and 681-687 S Kansas Ave in Wichita, Kansas, this offering consists of a 12 unit multifamily investment property situated on approximately 0.83± acres across three separate buildings. The buildings were originally constructed in 1943 and 1946 and underwent a full renovation in 2021 including new plumbing, electrical panels, windows, mini split HVAC systems, vanities, flooring, kitchens, and bathrooms. The unit mix consists of two (2) two bedroom units, eight (8) one bedroom units, and two (2) studio units. Current occupancy is approximately 66.7% with 16 designated tenant parking spaces and additional street parking available. The property is currently generating approximately $74,738 in annual gross income with potential annual gross income estimated at approximately $99,120 through improved occupancy and market rent adjustments. Located just southeast of downtown Wichita with convenient access to major highways, employment centers, and retail amenities, this property presents a strong value add opportunity for investors looking to improve performance and increase long term returns. Buyers are advised to thoroughly review the terms and details provided on the online bidding site, as any terms, comments, or announcements made there supersede any other advertised material. The property is being sold in its current "Where Is, As Is" condition, without any warranties. Sale is subject to seller confirmation with closing within 30 days. The successful bidder must immediately execute the provided auction purchase contract and deposit $30,000.00 as earnest money within the specified time outlined in the contract. Additionally, a 10% buyer's premium will be added to the final bid price. This auction is conducted exclusively online, with a 2-minute bidding time extension. The auctioneer reserves the right to recess, adjust and/or extend the bidding time as they deem necessary. Furthermore, the auctioneer may, at their sole discretion, reject, disqualify, or refuse any bid. Broker forms, if any, are available on the bidding site. While all information is deemed reliable, buyers are encouraged to conduct their own due diligence. The sale is not contingent on financing, appraisal, or inspection, and the winning bidder must be available immediately post-auction. The property is sold subject to applicable Federal, State, and/or Local Government regulations, with all measurements and details approximate and non-binding. The auctioneer provides no warranties regarding the online bidding platform's performance and assumes no liability for any bidder-incurred damages during its use, including unacknowledged bids or errors. Bidders accept all risks associated with the platform and acknowledge that the auctioneer bears no responsibility for bid submission or acceptance errors or omissions. Auctions may be subject to selling prior to the auction date.