619 Highway 77

Description

619 S Highway 77, Douglass KS High-yield value-add opportunity in Douglass, KS. This 11-door rental portfolio sits on 9.4 acres and includes a fully leased 2,000 sq ft restaurant, 11 remodeled apartments, and the ability to add 8–11 more units with minimal structural changes. All existing units have been updated within the last two years and are 100% occupied. The property’s layout—originally a nursing home with multiple wings—creates a straightforward path to expansion. Investors can quickly scale by finishing the second hall, adding additional 1- and 2-bedroom units, and potentially incorporating a laundromat or flex-use space. Current income exceeds $10,700/month, with pro-forma income nearing $20,000/month once renovations are complete. The land itself is a major upside driver. The northern frontage along Hwy 77 is ideal for storage units, a service currently at capacity in the area. The west side borders a new city-built pond and walking trail, increasing tenant appeal at no cost to the owner. Additional acreage along Elm Street supports future residential development. The City of Douglass is actively encouraging growth and offers tax abatements (up to 95% on improvements) and potential grant funding for residential expansion. The seller is willing to assist with city engagement and share a full development vision. Priced at $900,000, this is a rare combination of cash flow, land, and scalable upside—perfect for investors seeking both immediate returns and long-term growth.