Topeka deal watch for Tue Oct 13: two multifamily offerings and today's sheriff sale lead the list.
Chalet Apartments, 4140 SW 6th Ave, price not disclosed. It's 233 units on 24.5 acres being sold with 3.79% assumable debt, and CBRE hasn't announced a call-for-offers date yet, so there's time to get in early.
The Kapital, 1306 SW Harrison St, $2,950,000. This 36-unit building was gutted and renovated in 2021 and listed Oct 7, which works out to about $81,900 per unit near Washburn and the Capitol.
Six-duplex portfolio, 12 units, $1,500,000. That's $125,000 per unit across SW and SE Topeka, which makes it a useful price comp for small multifamily.
Sheriff sale today at 10:00 AM CT for 3410 SE Illinois Ave, held in the courthouse sub-basement at 200 SE 7th St.
Oct 27 sheriff sales include 2445 SW Wanamaker (Community National Bank against JMM LLC, so possibly commercial) and 611 NW Menninger Rd.
3746 SW Topeka Blvd, $1,437,287. It's 5.48 acres of commercial land pitched for retail, hospitality, or mixed use.
Kansas Department of Labor plans to sell a Topeka Blvd building because the HVAC repairs are too costly, and no price has been reported, so this could be a motivated state seller.
Forbes Field data center proposal: the airport authority signed a nonbinding letter of intent for two 150,000 sq ft buildings that could grow to four, which could lift land and housing demand in SE Topeka. It's on tonight's council agenda.
City council Oct 6 approved housing rezonings and annexed 19.35 acres for future mixed use, but contractors say the new permit portal has stalled projects, so build timelines may slip.
Shawnee County September stats: 204 sales at a $234,000 median (up 17% from a year ago), 341 active listings, and 1.8 months of supply, while new contracts fell 29% to 137, which hints that buyers are getting more leverage.
Sunflower MLS September: $230,000 median, 10 median days on market, 659 active listings (2.2 months of supply), and 219 contracts written compared with 295 last year.
There's no new county tax sale yet, and results from the Sept 23 tax foreclosure auction on GovEase haven't been posted.