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1110 w 11th, Concordia, KS 66901

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For Sale

$1,450,000

54,046 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • $26.83
    Price per square foot

  • 41-50 Years Old
    Age

Explore this Property

The Mount Joseph Apartments project in Concordia Kansas is an enticing real estate investment opportunity, especially with its prime location. Formerly Mount Joseph Senior Village, this 54,000 sqft single level brick building is being converted to 63 apartment units, which includes a spacious on site manager unit, gym, rec center, 3 coin op laundry rooms and a large courtyard for outdoor games, BBQ's and other social gatherings. When fully completed, Mount Joseph apartments will have 3 studios, 38 - 1 bedrooms, and 22 - 2 bedroom units, with gross income of $45,000 per month. Currently 2 wings are close to completion. A-wing has seven 2 bedroom units, 6 of which are 2 bedroom 2 bath units. C-wing has nine 1 bedroom 1 bath units and a 2 bedroom 1 bath unit. Upon completion (estimated 60 days), these 17 units will begin generating income of approximately $13,000 per month while construction continues on other wings. The building is well known in the area and the entire community is excited about the transformation to apartments. Beautiful brick exterior with 63 brand new units with white shaker cabinetry, stainless appliances, granite countertops and more. These units will be the newest and nicest in town. A brand new road along the back of the property with 50+ new parking spaces was just completed. Mount Joseph sits on 6.83 acres nestled on the edge of town next to Lost Creek, which provides a serene and picturesque setting, which will be a major selling point for tenants seeking tranquility and natural surroundings. For those interested in real estate investment, Mount Joseph Apartments presents an opportunity worth considering, offering the potential for both immediate returns and long-term growth. For personal reasons, the current owner is selling as is, however construction continues. As more wings are completed, the listing price will be increased accordingly. If 50% completion is reached, the property will be taken off market permanently. This is an amazing property and could be the flagship property of any real estate portfolio. Don't wait or it will be gone one way or another. The owner is open to seller financing. When an owner is open to seller financing, it means that they are willing to provide a loan directly to the buyer rather than having the buyer obtain financing from a bank or other financial institution. This arrangement can be beneficial for both parties in certain situations, and it allows for more flexibility than traditional financing.
MLS# 11288076

Courtesy Of Bowers Land And Home Realty LLC

(785) 243-5365

Property Features

  • Age
    41-50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    6.83 Acres
  • Roof Type
    Asphalt

Map and Directions

Directions to 1110 w 11th, Concordia, KS 66901

Home seller CENTURY 21 GHC Associates, Inc.

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 GHC Associates, Inc.

(785) 243-1555
Learn More About Us

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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