MTN Investment Group Acquires 70-Unit Multifamily Property In Wichita, Kansas For $9.8M

Located at 429 W Central Ave in Wichita, Kansas, this multifamily property was recently sold in a closed transaction. The property features a total of 70 units with an average purchase price of $140,000 per unit. Spanning across 48,968 square feet, the property has a price per square foot of $200. The sale price for this transaction amounted to $9,800,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $9,800,000
• Units: 70
• Price Per Unit: $140,000
• Square Footage: 48,968
• Price Per Square Foot: $200
• Address: 429 W Central Ave, Wichita, Kansas
• Market: Wichita, Kansas

The acquisition of this property was made by Russell Nova and Igor Zakh, representing Stone Street Multifamily Group and MTN Investment Group. The seller in this transaction was Mark Farha.

Russell Nova, Principal of MTN Investment Group, stated that the purchase was made with a focus on steady rent growth, job growth, and population growth. The property, a 2016 build in the heart of the Riverside Neighborhood, is a Class A multifamily asset, requiring minimal capital expenditure. Russell Nova and the MTN Investment Team are actively seeking opportunities to invest in the multifamily market, with particular interest in markets like Florida and Georgia.

Financing for this transaction was provided by Igor Zakh of The Cornerstone Group of NY, a debt advisory firm.

For more information or potential sale opportunities, Russell Nova can be reached at 917-559-1820 or [email protected]. Additional information is available on the MTN Investment Group website at www.mtninvestmentgroup.com.

Igor Zakh, the Operating Officer of The Cornerstone Group of NY, can be contacted at 917-567-1646 or [email protected]. More details about The Cornerstone Group of NY can be found at www.csg-ny.com.

Note from Buyer: @MTN_IG / MTN Investment Group and its Partners purchased this 70 Unit, 2016 Build, Class A, Multifamily property in the heart of the Riverside Neighborhood of Wichita Kansas. This newer asset would yield minimum CapEx and very strong increases in Rents. @RussellNova and the MTN Investment Team are looking to purchase Multifamily property within Markets with steady Rent Growth, Job Growth and Population Growth which provides Generational Growth to our Partners and Investors. Our focus for 2022/2023 is the FL and GA Markets. This property marks the Third Purchase for MTN Investment Group and with another 118 UNITS in the Buckhead Area of Atlanta in the Pipeline. We are slated to close the first week of August. Visit our Website and Invest in the fastest growing city in ATL. ATTN Brokers: Please send us any potential sale opportunities for a quick reply and a preemptive offer.