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Listed by Lee Ripma • Lutz Sales + Investments
$425,000
Est. payment /mo
0.43 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Package of Properties
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2603759
Year Built 1930
Annual Tax Amount $3,736
Lot Size 0.426 Acres
Acres 0.42607898
Property Sub-Type Package of Properties
Source hmls
Property Description
This charming 10-unit multifamily in Silver Lake, Kansas consists of ten total cottages across five buildings. All units are one bedroom and one bathroom, originally constructed in the 1930s with enduring character. The smaller units do well in Silver Lake, attracting a broad tenant base that includes single professionals, couples, and downsizing seniors seeking affordable, low-maintenance living.
Silver Lake's proximity to Topeka enhances the property's appeal by offering residents convenient access to larger employment centers, healthcare, retail, and amenities—while still enjoying the affordability and community feel of a smaller town. This dynamic supports steady rental demand from tenants who work in Topeka or the surrounding area but prefer more cost-effective housing options. In markets like Silver Lake, well-maintained multifamily assets often face limited competition, positioning investors to benefit from consistent cash flow. Manage this property for operational efficiency and consider adding some furnished rentals.
308 Chestnut St offers both immediate income and long-term upside for investors seeking dependable returns in a stable Midwest market.
Silver Lake's proximity to Topeka enhances the property's appeal by offering residents convenient access to larger employment centers, healthcare, retail, and amenities—while still enjoying the affordability and community feel of a smaller town. This dynamic supports steady rental demand from tenants who work in Topeka or the surrounding area but prefer more cost-effective housing options. In markets like Silver Lake, well-maintained multifamily assets often face limited competition, positioning investors to benefit from consistent cash flow. Manage this property for operational efficiency and consider adding some furnished rentals.
308 Chestnut St offers both immediate income and long-term upside for investors seeking dependable returns in a stable Midwest market.
Location
State KS
County Shawnee
Zoning RES
Interior
Heating Forced Air
Cooling Other, Window Unit(s)
Fireplace N
Exterior
Parking Features false
Utilities Available Master Meters
Roof Type Composition
Building
Story 1
Sewer Public Sewer
Water City/Public - Verify
Structure Type Wood Siding
Schools
School District Silver Lake
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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