713 Dondee Dr., Manhattan, KS 66502

Manhattan
Local realty services provided by:ERA High Pointe Realty
713 Dondee Dr.,Manhattan, KS 66502
$2,595,000
  • 66 Beds
  • 36 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: tray schmidt
Office: the alms group
MLS#:20261729
Source:Listing Courtesy of Flint Hills AOR MLS as distributed by MLS GRID

Price summary

  • Price:$2,595,000

About this home

Turnkey 36-unit apartment portfolio across three adjacent buildings (713 Dondee Dr + 803 & 805 Allison Ave) in Manhattan, Kansas — home of Kansas State University. Strong, well-documented performance: $366,960 gross income, $229,390 NOI, and an 8.8% going-in cap at list (~$72,083/unit). ~94% occupied with an established tenant base and three years of operating history.Two of the three buildings are fully renovated and commanding premium rents ($695–$895/mo); the third offers clear value-add upside through below-market units. Unit mix: 31 two-bedroom + 5 one-bedroom (67 bedrooms total). Rising income, falling post-renovation expenses, durable college-town rental demand, and scale in a single transaction. In-place cash flow plus a built-in rent-growth runway. Full financials available to qualified investors. A rare cash-flowing value-add play in the Midwest market region. For more details or to request a showing, text 785-341-6146.

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Home facts

  • Year built:1975
  • Listing ID #:20261729
  • Added:92 day(s) ago
  • Updated:October 01, 2026 at 03:54 PM

Rooms and interior

  • Bedrooms:66
  • Total bathrooms:36
  • Full bathrooms:36
  • Basement:Yes
  • Basement Description:Finished

Heating and cooling

  • Cooling:Central Air
  • Heating:Electric
  • Central air:Yes

Structure and exterior

  • Roof:Age Unknown
  • Year built:1975
  • Lot area:1.4 Acres
  • Construction Materials:Vinyl Siding

Finances and disclosures

  • Price:$2,595,000
  • Tax amount:$31,122 (2025)

Features and amenities

  • Amenities:Eat-in Kitchen

Parking

  • Parking description:Parking Pad, Paved
Listings courtesy of Flint Hills AOR as distributed by MLS GRID. IDX information is provided exclusively for consumers’ personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Based on information submitted to the MLS GRID as of October 1, 2026. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS”; as established by the applicable MLS Governing Documents.

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