Investment Overview

Marcus & Millichap is pleased to announce the listing of the Sunflower Apartments which consist of eight stories that have 11 studios, 32 one bedroom, six two bedroom, and one four bedroom apartments. The Historic Sunflower Apartments, once a hotel, is a well-known landmark located in Abilene, Kansas. It was built in 1920 by the Dickinson County Bank as a luxurious hotel to accommodate the increasing number of travelers passing through the city. Over the years, the Sunflower Apartments has played an important role in Abilene's history, hosting numerous events and dignitaries, including U.S. President Dwight D. Eisenhower, who frequently visited the city where he spent his boyhood. The hotel was also a popular gathering place for locals, who would come to enjoy its restaurant and bar. In recent years, the Historic Sunflower Hotel has undergone extensive renovations to restore its original grandeur such as a brand-new boiler, domestic water heater, and new water softener to serves as a multi-purpose facility that includes a restaurant, banquet hall, and office space. The apartment complex is listed on the National Register of Historic Places and is a must-visit destination for history buffs and architecture enthusiasts visiting Abilene. This value-add opportunity allows for potential investors to drive up net operating income through increasing rents and occupancy by stabilizing the asset. A new owner can rub utilities to tenants as well with the property being all bills paid.