- 10 PROPERTY, 1,002-UNIT PORTFOLIO PROVIDES IMMEDIATE SCALE IN GREATER WICHITA
- VALUE ADD POTENTIAL WITH UNIT UPGRADES
- HIGH-QUALITY WICHITA LOCATIONS NEAR MAJOR DEMAND DRIVERS
- 10 ASSETS CONSTRUCTED BETWEEN 1946 AND 2018 OFFERING 42 TO 252 UNIT ASSETS
- OFFERED INDIVIDUALLY AND AS A PORTFOLIO
- ATTRACTIVE ASSUMABLE FANNIE MAE AND HUD DEBT WITH AVAILABLE SUPPLEMENTAL FINANCING
- SUPPLY CONSTRAINED MARKET PRIME FOR ORGANIC RENT GROWTH
10 PROPERTY, 1,002-UNIT PORTFOLIO PROVIDES IMMEDIATE SCALE IN GREATER WICHITA
The assets are conveniently spread across the Wichita Metro with the longest drive between asset being under 20 minutes / 13 miles (excluding Cottonwood Crossing). Providing investors with scale and significant operating efficiencies.
VALUE ADD POTENTIAL WITH UNIT UPGRADES
Currently, only 208 units (21%) of 1,002 total units have been fully renovated with another 46 units being partially renovated. Premiums for renovated units range from $50 – $170 depending on asset, finish level, and floorplan, with $140/unit/month in upside in the remaining ‘classic’ units within the portfolio.
HIGH-QUALITY WICHITA LOCATIONS NEAR MAJOR DEMAND DRIVERS
The entirety of the portfolio offers proximity to unique drivers throughout the metro. The 2 West Wichita assets are surrounded by quality schools, entertainment drivers, two universities, and are a short drive to Wichita’s booming Riverside neighborhood:
- Cimarron
- Stratford West
East Wichita is home to the best schools in the city, Wichita State University, and the top shopping destinations in Wichita – Bradley Fair
and Towne East Mall:
- Park Meadows
- Edgemoor Townhomes
- Danish Village
- Stratford East
The South Wichita properties are situated in the heart of Wichita’s Manufacturing and Aviation Hub:
- Kingstone Cove
- Pine Creek
- Willows
Newton offers a quaint small-town feel and acts as a bedroom community to the greater Wichita MSA. :
- Cottonwood Crossing
