Prime Investment Opportunity: Turnkey Triplex in Moundridge, KS Online Only Auction

Prime Investment Opportunity: Turnkey Triplex in Moundridge, KS Online Only Auction

Bidding opens on Wednesday, September 23rd at 2:00pm CT

Bidding begins to close on Wednesday, September 30^th at 6:00pm CT

806 S Edwards Avenue – Moundridge, KS 67107

 

Presenting 806 S Edwards Ave, Moundridge, KS—a well-maintained, 3-unit residential apartment building offering immediate rental income and strong multi-family upside. Situated in a quiet, highly desirable community with convenient access to major employment hubs along the I-135 corridor (McPherson, Newton, and Wichita), this property offers stable tenancy and straightforward management.

Property Highlights & Financial Overview:

Property Layout: Two-story multi-family building comprising three spacious, individual residential units (6 total bedrooms / 6 bathrooms).

Current Rental Revenue: Generating $2,445/month in gross scheduled rent ($29,340 annually) with established long-term occupancy:

Unit 811: $800/month
Unit 812: $825/month
Unit 813: $820/month

In-Place Operations: Professionally managed at an efficient 8% rate with low turnover history in the Moundridge market.

Property Specifications: Built in 1978; featuring wood frame construction, metal siding, poured concrete foundation, attached garage/off-street parking spaces, and separately configured unit layouts.

Value-Add & Operational Upside:

Utility Submetering Potential: The property currently runs on a single seller-paid master utility setup. A new owner has a clear path to boost net income by converting to individual unit submetering or implementing a Ratio Utility Billing System (RUBS).

Strong Rental Demand: Moundridge (USD 423) maintains a consistently low supply of multi-family housing, supporting strong historical occupancy and future rent growth potential.

Auction Details & Terms:

This property will be sold at public auction. Price will be determined by competitive bidding on auction day, making this a exceptional opportunity for investors seeking strong cash flow, clear value-add potential, and a quality addition to their real estate portfolio.

This Property Is Being Offered Via Online Auction: Bidding concludes Wed, Sept 30th @ 6 pm. TOTAL PURCHASE PRICE WILL INCLUDE A 10% BUYER’S PREMIUM OF THE FINAL WINNING BID, ADDED TO THE FINAL BID TO DETERMINE THE FINAL CONTRACT PRICE. This is a Reserve Auction. 
All information deemed reliable but not guaranteed. Verify school information. The property is being sold "AS-IS, WHERE-IS" and without warranty or guarantee of any kind. Each potential buyer is encouraged to perform his/her own independent inspections, investigations and due diligence concerning the described property. It is the buyer’s responsibility to have any and all desired inspections completed prior to bidding. Descriptions are believed to be accurate but are not guaranteed. All announcements made the day of sale supersede any and all printed material. The seller is offering no other terms or contingencies. You're encouraged to seek financing, just understand your bidding is not contingent on financing or inspections. A non-refundable deposit of $2,500 is due the day of auction and upon the execution of the purchase agreement. Deposit may be in the form of a Cashier's Check, Personal Check, ACH Deposit or Cash.