534 N Richmond Ave new to site Save Request In-Person Tour Request Virtual Tour
Wichita,KS 67203
Key Details
Property Type Multi-Family
Sub Type Four to Sixplex
Listing Status Active
Purchase Type For Sale
Square Footage 9,396 sqft
Price per Sqft $79
Subdivision Davidson 2Nd
MLS Listing ID SCK661902
Style Side by Side
Year Built 1968
Annual Tax Amount $6,814
Tax Year 2024
Property Sub-Type Four to Sixplex
Property Description
Investment Offering – 534–544 N Richmond, Wichita, KS Rare opportunity to acquire a well-maintained multifamily package of three side-by-side duplexes arranged in a U-shape with convenient onsite parking and shared greenspace. This six-unit property generates a gross annual income of $71,700 with strong potential for continued rent growth through targeted updates. Each unit features: 2 bedrooms, 1 bath on the main level Finished basement with an additional non-conforming bedroom and living room New LVT flooring installed in basements, providing modern, durable finishes tenants love Recent capital improvements ensure low near-term maintenance: New roofs (installed within the last 2 months) 5 of 6 air conditioning units updated within the past 2 years With value-add opportunities still available through interior renovations and rent optimization, this property offers both stability and upside. Located in a prime central Wichita location, residents enjoy quick access to downtown, the river, local parks, popular restaurants, and major highways, making it highly attractive for tenants. This is a strong, income-producing asset with proven performance and room to grow—ideal for both seasoned investors and those expanding their Wichita portfolio.
Location
State KS
County Sedgwick
Interior
Heating Natural Gas
Cooling Electric
Exterior
Garage Description 2 per Unit,Paved,On Street
Utilities Available Natural Gas Available,Sewer Available
View Y/N Yes
Roof Type Composition
Building
Structure Type Other
Schools
Elementary Schools Lawrence
Middle Schools Hadley
High Schools West
School District Wichita School District (Usd 259)