8-Unit Multifamily Investment Opportunity – High Cap Rate Potential!
Location: 614 Cedar St, Jamestown, KS 66948
Price: $150,000
Property Type: 8-Plex Multi-Family Apartment Complex
Total Finished Size: 5,329 Sq. Ft.
Lot Size: 0.77 Acres (33,541 Sq. Ft.)
Year Built: 1983
Annual Property Taxes: ~$918
Property Overview:
Attention investors! Exceptional opportunity to acquire a turnkey, cash-flowing 8-plex apartment building in Jamestown, Kansas. Situated on a massive 0.77-acre lot, this low-maintenance, single-story brick and siding complex offers 5,329 total finished square feet optimized for steady rental yields and low vacancy.
Major Capital Updates & Renovations:
New Roof (2025): Complete peace of mind with a brand-new roof installed in 2025, significantly reducing future CapEx.
Modern Interior Remodels: The apartments have undergone extensive renovations designed for durability and modern appeal.
Fresh Flooring: Upgraded with high-quality Luxury Vinyl Plank (LVP) flooring in high-traffic areas and plush new carpet in the bedrooms.
Fresh Paint: Crisp, new interior paint throughout every unit.
New Mechanicals: Equipped with brand-new water heaters and new, efficient air conditioning units for worry-free property management.
Diverse Unit Breakdown:
3 Two-Bedroom Units: Spacious 2-bed, 1-bath floor plans ideal for long-term tenants needing extra space.
4 One-Bedroom Units: High-demand 1-bed, 1-bath layouts catering perfectly to singles or couples.
1 Studio Apartment: A cozy, efficient studio unit featuring a separate, full bathroom.
Property & Utility Features:
Tenant Utilities: Units are separately metered so tenants pay their own electricity.
Landlord Utilities: Owner covers water and trash utilities, keeping monthly overhead highly predictable.
On-Site Laundry: Features a coin-operated laundry area providing reliable, extra cash flow to the owner.
Ample Parking: Open off-street parking lot easily accommodates all residents and guests.
Enhanced Security: Equipped with an on-site security camera system to monitor common exterior areas and the parking lot, providing peace of mind for both management and residents.
Investment Highlights:
Low Holding Costs: Incredibly low annual property taxes (~$918) keep your net operating income (NOI) high.
Value-Add Potential: Opportunities exist to optimize rental rates to current market conditions or implement light cosmetic upgrades to further boost equity.
Whether you are looking to expand an existing portfolio or make your first commercial multifamily purchase, 614 Cedar Street delivers reliable brick-and-mortar stability in Cloud County.