1900 Stone Four-Plex Near Washburn University. $138,750.

A 123-year-old stone and frame building on Polk Street in Topeka — and it's already four separate apartments, each with its own electric and gas meter. That's the detail that matters most here.

The building is 2,163 square feet split across four units: a studio and a one-bedroom on each floor. All four are vacant right now, which means you can set your own rents from day one. Before any of the recent improvements, this building was pulling in $2,065 a month gross. That number goes up now that the units have new appliances, two new walk-in showers, and a brand-new commercial water heater. Separate utility meters mean tenants pay their own bills — which is the difference between a landlord headache and a landlord business.

The location sharpens the case. Washburn University is close, which means a consistent, renewable tenant pool every single fall.

At $138,750, you're looking at a building that was constructed when McKinley was president and has survived long enough to be genuinely useful. Stone construction, century-old bones, updated systems. This is the kind of property that rewards someone who understands that old doesn't mean broken — it often means built better than anything you can find at this price today.