Heritage Apartments 401 E Avenue A 28 Unit Apartment Building For Sale Hutchinson, KS 67501

ONLINE ONLY!!! Heritage Apartments – 28-Unit, 100% Occupied Multifamily Investment | Hutchinson, KS
Heritage Apartments is a 100% occupied, stabilized 28-unit garden-style apartment community located on East Avenue A in Hutchinson, Kansas. This property offers immediate cash flow with professional third-party management in place and exceptionally thorough operating records, making it a solid addition to an investor’s portfolio.  
The property consists of three levels in a three-story garden-style configuration with a gross building area of 19,846 SF, 18,437 SF of rentable space, plus a 1,054 SF clubhouse housing tenant laundry facilities and owner storage.
Income Overview:
100% Occupancy
Monthly Gross Rent: $16,596
Annualized Gross Rental Income: $199,152
Stabilized in-place income supported by consistent rent collections
Detailed rent rolls, deposit rolls, and unit-level maintenance records available
Unit Mix (28 Total Units):
9 – 2 BR / 1 Bath
9 – 1 BR / 1 Bath
10 – Efficiency / Studio (1 Bath) including an ADA-compliant oversized studio (734 SF)
Property & Unit Features:
Each unit has its own water heater
Wall-mounted heat & air conditioning
Kitchens equipped with oven/range and refrigerator
Carpet and vinyl flooring throughout
Mini-blinds, coat closets, and linen closets
Shower/tub combo in each unit
Community Amenities:
On-site laundry facility located in clubhouse
Off-street parking
Budget-friendly studio, one-bedroom, and two-bedroom apartments
Intimate community size with efficient operations
Management & Operations:
Professionally managed by a leading property management company (No written contractual agreement past closing, but company has expressed interest in continuing management post sale.)
Comprehensive records including:
Rent rolls and deposit rolls
Detailed maintenance and service history by unit
Management available Monday–Friday
24/7 emergency maintenance on call
Utilities & Billing:
Water and trash invoiced monthly to residents based on usage
$13/month Legal Liability Fee billed to tenants
Electricity separately metered and paid directly by residents
Pet Policy:
Up to 2 pets per unit, maximum 10 lbs each
$200 non-refundable pet fee (up to 2 pets)
$300 fully refundable deposit per pet
$25/month pet rent per pet
The monthly income at The Heritage is currently $16,596 at 100% occupancy. Total gross annual income is currently $199,152.  
Property offered at ONLINE ONLY auction. | 10% Buyer's Premium will be added to the final bid. | BIDDING OPENS: Tuesday, February 3, 2026 at 2 PM (cst) | BIDDING CLOSING: Wednesday, February 11th, 2026 at 2 PM (cst).  Bidding will remain open on this property until 90 seconds have passed without receiving a bid. Select units available to preview by appointment.  Per property management company, the swimming pool has not been functional or open for the past 3 years.  Select units can be viewed at one of two Open House dates: 2/2/26 or 2/9/26 from 3:30 PM - 5:30 PM.  More details to come. 
*Buyer should verify school assignments as they are subject to change. The real estate is offered at public auction in its present, “as is where is” condition and is accepted by the buyer without any expressed or implied warranties or representations from the seller or seller’s agents. Full auction terms and conditions provided in the Property Information Packet. Total purchase price will include a 10% buyer’s premium ($2,500.00 minimum) added to the final bid. Property available to preview by appointment. Earnest money is due from the high bidder at the auction in the form of cash, check, or immediately available, certified funds in the amount of $75,000.