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Listed by Nicholas Lerner • McGrew Real Estate Inc
$ 349,900
Est. payment | /mo
6,256 Sqft Lot
$ 349,900
Est. payment | /mo
6,256 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2625001
Year Built 1976
Annual Tax Amount $3,376
Lot Size 6,256 Sqft
Acres 0.143618
Property Sub-Type Duplex
Source hmls
Property Description
Investor Alert! Turnkey Duplex with Strong Rental Income in a Prime Lawrence Location. Here's an opportunity to acquire a quality investment property that checks all the boxes: location, condition, and reliable cash flow. 404-406 Arkansas Street is a well-maintained duplex located in the Pinkney Neighborhood, offering convenient access to LMH Health, Downtown Lawrence, the University of Kansas, and quick connections to I-70 for commuters. This location continues to attract strong tenant demand from a variety of renter profiles. The current owner has built a reputation for thoughtfully renovating properties to a higher standard than the typical rental unit. Through strategic updates and improvements, this duplex has been positioned to attract quality tenants while achieving above-average rental rates. Each unit features 2 bedrooms and 1 bathroom. With new leases scheduled to commence at the end of July, the property will generate $2,590 per month in gross rental income through July 28, 2027, providing investors with immediate and predictable cash flow. Whether you're looking to expand an existing portfolio or acquire a turnkey investment in one of Kansas' most stable rental markets, this property deserves serious consideration. This property is professionally managed by Foxtail Real Estate Co., one of Lawrence's leading property management firms. For investors seeking a truly turnkey acquisition, Foxtail is prepared to continue management services after closing, providing a seamless transition of ownership and day-to-day operations. Buyers will benefit from established systems, tenant relations, and local market expertise from day one. Alternatively, the new owner retains the flexibility to self-manage or select the property management company of their choice. Rent rolls and financial information are available upon request. Interior Photos were taken before the units were occupied. Photos provided may be from the neighboring duplex unit.
Location
State KS
County Douglas
Zoning R-2
Interior
Heating Forced Air
Cooling Electric
Fireplace N
Exterior
Parking Features false
Utilities Available Other
Roof Type Composition
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
Elementary Schools Hillcrest
Middle Schools Central
School District Lawrence
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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