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644 N Bluff Ave - The Bluff Flats 8 Unit Apartment Building Offered at $1,640,964 CAD Wichita, KS 67208
EXECUTIVE SUMMARY
8-Unit Multifamily Investment Opportunity | Back on Market
This well-maintained 8-unit property is back on the market after a prior buyer was unable to secure financing. The property appraised at the contract price, confirming value.
The building underwent a comprehensive renovation approximately four years ago, including:
New windows, electrical, and plumbing
New AC units
New concrete and parking lot
Fully updated kitchens and bathrooms
Refinished original oak floors
Interior and exterior paint and updated fixtures throughout
Major capital improvements continue to reduce future risk:
2024: Main sewer line replaced from building to city main
2025: New furnaces installed at 646 Bluff
Unit mix:
4 two-bedroom units
4 one-bedroom units
Currently, three units operate as short-term rentals and are outperforming long-term rent rates, with strong forward bookings already in place for the coming months. One unit is vacant and available for immediate viewing, along with common areas. Remaining units may be shown with an acceptable LOI or executed contract.
This property offers a rare combination of stabilized condition, recent major systems replacement, and upside through continued or expanded short-term rental operations.
This well-maintained 8-unit property is back on the market after a prior buyer was unable to secure financing. The property appraised at the contract price, confirming value.
The building underwent a comprehensive renovation approximately four years ago, including:
New windows, electrical, and plumbing
New AC units
New concrete and parking lot
Fully updated kitchens and bathrooms
Refinished original oak floors
Interior and exterior paint and updated fixtures throughout
Major capital improvements continue to reduce future risk:
2024: Main sewer line replaced from building to city main
2025: New furnaces installed at 646 Bluff
Unit mix:
4 two-bedroom units
4 one-bedroom units
Currently, three units operate as short-term rentals and are outperforming long-term rent rates, with strong forward bookings already in place for the coming months. One unit is vacant and available for immediate viewing, along with common areas. Remaining units may be shown with an acceptable LOI or executed contract.
This property offers a rare combination of stabilized condition, recent major systems replacement, and upside through continued or expanded short-term rental operations.
PROPERTY FACTS
| Price | $1,640,964 CAD | Property Type | Multifamily |
| Price Per Unit | $205,121 CAD | Building Size | 6,552 SF |
| Sale Type | Investment | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1954/2021 |
| Price | $1,640,964 CAD |
| Price Per Unit | $205,121 CAD |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Building Size | 6,552 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2021 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,436 CAD | - |
| 2+1 | 4 | $1,573 CAD | - |
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PROPERTY TAXES
| Parcel Number | 126-14-0-43-04-003.00 | Improvements Assessment | $48,970 CAD |
| Land Assessment | $3,854 CAD | Total Assessment | $52,824 CAD |
PROPERTY TAXES
Parcel Number
126-14-0-43-04-003.00
Land Assessment
$3,854 CAD
Improvements Assessment
$48,970 CAD
Total Assessment
$52,824 CAD
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644 N Bluff Ave - The Bluff Flats
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