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$ 510,000
Est. payment | /mo
3,080 SqFt
$ 510,000
Est. payment | /mo
3,080 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi-Plex
Listing Status Active
Purchase Type For Sale
Square Footage 3,080 sqft
Price per Sqft $165
Subdivision Meadowbrook
MLS Listing ID 165099
Year Built 1980
Tax Year 2025
Property Sub-Type Multi-Plex
Source lbor
Property Description
Currently generating $37,200 annually in rental income, this well-maintained duplex offers an excellent long-term investment opportunity in one of Lawrence's most desirable rental markets. In addition to stable cash flow, the property offers appreciation potential and possible tax advantages commonly associated with investment real estate ownership. Located just blocks from the University of Kansas campus, the Lied Center, and the popular West Campus corridor, 2822–2824 University Drive is positioned in a highly sought-after area known for strong rental demand, convenient access to amenities, and long-term neighborhood stability. Residents enjoy easy access to downtown Lawrence, parks, trails, shopping, restaurants, coffee shops, public transportation, and major commuter routes. The mature tree-lined streets and established surrounding homes contribute to the lasting appeal of this area for both tenants and investors. Properties in this location rarely become available and continue to experience strong long-term demand due to their proximity to KU and surrounding amenities. This duplex is currently leased with reliable tenants in place through July 31, 2027, while also offering future upside potential as rents gradually adjust toward market levels. Each side has its own address and is separately metered, helping simplify ownership and expense allocation. Current lease information: 2822 University Drive is leased at $1,405 per month through 7/31/2027, and 2824 University Drive is leased at $1,695 per month through 7/31/2027. Total annual rent is currently $37,200. To respect tenant privacy, interior photos are not included in this listing. Recent photos may be viewed by searching the individual unit addresses online. Tours may be scheduled with approximately 2–3 days' notice, and tenant check-in reports are available with additional details regarding move-in condition. Rare opportunities like this in the University Drive area are becoming difficult to find so buy!
Location
State KS
County Douglas
Rooms
Basement Full, Partially Finished, Walk-Out Access
Exterior
Utilities Available Natural Gas Connected, Electricity Connected
Roof Type 3D Composition
Building
Water Public
Structure Type Frame,Brick Veneer
Others
Ownership Private
Acceptable Financing New Loan, Cash
Listing Terms New Loan, Cash
Listed by HEDGES REALTY EXECUTIVES
Nearby Locations
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Thomas Howe
Associate Broker | Lic# BR00054839