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Multifamily

White Lakes Plaza

3730 SW Plaza Dr, Topeka, KS 66609

Listing Price: Request For Offer

Number of Units
144
Gross SF
122,600

Investment Overview

Marcus & Millichap is pleased to present White Lakes Plaza (“The Property”), a 144-unit apartment community located in Topeka, KS. The Property was built in 1973 and consists of (72) one-bedroom / one-bathroom units and (72) two-bedroom / one and a half bathroom units with an average square footage of 851. White Lakes Plaza is a gated community consisting of (10) buildings and features a pool, clubhouse, laundry facility, and plenty of green space. Each unit comes complete with a full kitchen, central heating and air conditioning, patio/balcony, large closets, and a fireplace in select units. Tenants pay for electric and gas and are billed-back for water through a RUBS program. The Property is professionally managed by Orion Property Group.


White Lakes Plaza is located on the Southeast side of Topeka and sits just off Southwest 37th Street. The Southeast neighborhood contains mostly residential homes and is surrounded by parks, retail stores, and restaurants. The Property is conveniently located next to 470 Highway giving tenants easy access to all of Topeka. The Property sits behind White Lakes Plaza Shopping Center and is next door to a Walmart Supercenter. Southwest Topeka Blvd is down the street from The Property where tenants have access to a plethora of shops and restaurants.

With an average rent of $770, there is an opportunity to increase rents $150+/unit through interior & exterior improvements. Ownership has renovated (7) units at the property with new flooring, carpet, hardware, countertops, paint, doors, shelving, lighting, and black appliances. (8) interior hallways have been renovated with new paint and flooring and over $60K has been spent on repairing and replacing HVAC units. There are 100 covered parking spots at The Property giving a new owner the opportunity to gain additional income by charging a monthly fee for covered parking.

Investment Highlights

  • $150+/Unit Rent Upside Through Interior and Exterior Updates.
  • Large Floor Plans Averaging 851 Square Feet.
  • Easy Access to 470 Highway.
  • 2.5 Miles from Washburn University.

Exclusively Listed By

Financing By

Multifamily

White Lakes Plaza

Listing Price: Request For Offer

Number of Units
144
Gross SF
122,600

Investment Highlights

  • $150+/Unit Rent Upside Through Interior and Exterior Updates.
  • Large Floor Plans Averaging 851 Square Feet.
  • Easy Access to 470 Highway.
  • 2.5 Miles from Washburn University.

Investment Overview

Marcus & Millichap is pleased to present White Lakes Plaza (“The Property”), a 144-unit apartment community located in Topeka, KS. The Property was built in 1973 and consists of (72) one-bedroom / one-bathroom units and (72) two-bedroom / one and a half bathroom units with an average square footage of 851. White Lakes Plaza is a gated community consisting of (10) buildings and features a pool, clubhouse, laundry facility, and plenty of green space. Each unit comes complete with a full kitchen, central heating and air conditioning, patio/balcony, large closets, and a fireplace in select units. Tenants pay for electric and gas and are billed-back for water through a RUBS program. The Property is professionally managed by Orion Property Group. White Lakes Plaza is located on the Southeast side of Topeka and sits just off Southwest 37th Street. The Southeast neighborhood contains mostly residential homes and is surrounded by parks, retail stores, and restaurants. The Property is conveniently located next to 470 Highway giving tenants easy access to all of Topeka. The Property sits behind White Lakes Plaza Shopping Center and is next door to a Walmart Supercenter. Southwest Topeka Blvd is down the street from The Property where tenants have access to a plethora of shops and restaurants. With an average rent of $770, there is an opportunity to increase rents $150+/unit through interior & exterior improvements. Ownership has renovated (7) units at the property with new flooring, carpet, hardware, countertops, paint, doors, shelving, lighting, and black appliances. (8) interior hallways have been renovated with new paint and flooring and over $60K has been spent on repairing and replacing HVAC units. There are 100 covered parking spots at The Property giving a new owner the opportunity to gain additional income by charging a monthly fee for covered parking.

Exclusively Listed By

Financing By

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