1836-1838 S Lorraine Ave, Wichita, KS 67211

Property Description

Welcome to the charm of the 1950s with this beautifully updated four-unit investment property, offering the perfect combination of classic character, modern improvements, and income-producing potential! Featuring two spacious 2-bedroom units and two 3-bedroom units, this property presents an exceptional opportunity for investors or owner-occupants looking to live in one unit while generating rental income from the remaining three. Extensive improvements throughout the property include new 26-gauge metal roofs on all structures, fresh exterior and interior paint, updated plumbing and electrical in multiple areas, granite countertops, and new appliances in all four units. Beautiful original hardwood floors preserve the timeless character of these homes while complementing the modern renovations. Each unit enjoys the convenience of its own private garage, complete with dusk-to-dawn exterior lighting. Two separate shared laundry rooms serve the property, with each laundry room conveniently accessible to a pair of units. Additional highlights include a spacious driveway, backyard access, and a desirable location offering easy connectivity to major highway systems, shopping, dining, and everyday conveniences. Currently, three of the four units are occupied, generating $32,340 in annual gross rental income, with the potential to generate $42,660 annually at full occupancy. The vacant unit provides immediate flexibility for an owner-occupant or the opportunity to secure an additional tenant and maximize rental income. With substantial capital improvements already completed, a desirable unit mix, individual garages, and strong income potential, this is a fantastic opportunity to acquire a thoughtfully updated four-unit property with lasting appeal and investment potential!