Prime multi-unit investment opportunity on nearly 10 acres in Douglass, KS. This property features 11 fully remodeled and occupied units, each updated within the last 18-24 months, plus a turnkey 2,000 sq ft restaurant generating additional income. An estimated 8 more units are ready for remodel, with infrastructure in place to expand up to 9 additional 1- or 2-bedroom apartments depending on configuration. Originally a nursing facility, the building has been thoughtfully converted into single-unit apartments-an improvement strongly supported by the City of Douglass due to ongoing housing demand from BNSF employees, retirees, and Wichita commuters. Current monthly income exceeds $10,700, with projected income approaching $20,000/month once the remaining units are completed. The 9.4-acre site offers multiple development paths. The northern 4 acres along Hwy 77 are ideal for storage units, garages, or additional multifamily. The west side borders a new city-developed fishing pond and walking trail, enhancing long-term desirability. Additional acreage along Elm Street provides room for single-family homes or duplexes. The property may qualify for long-term tax abatement and grant incentives for residential development. Located just 15-20 minutes from Wichita, this property delivers stable cash flow today with substantial upside for expansion. Offered at $900,000, this is a rare chance to acquire a cash-flowing asset with development potential in a pro-growth community.
