- Proven Renovation Strategy Driving $237 in Effective Rent Upside
- Rent Increase of 9.0%+ on Lease Trade Outs
- 85% 2- and 3-Bedroom Unit Mix with 1,000+ Sqft Floorplans & Full Amenity Offering
- Proven, Durable, Financeable Income Stream with Minimal Economic Loss
- Early 2000s Construction – Well Maintained & Low Density
- Limited Supply & Sustained Rent Growth – Submarket Occupancy at 98.1%
- Prime Location in Affluent West Lawrence with $101K Avg Household Income
- Walkable to Starbucks, CVS, Sprouts & Daily Essentials
- Steps from Top-Ranked Lawrence Free State High School
- Value-Add Water Fixture Upgrades | $25K–$35K Annual Savings Potential
- Offered Free and Clear
- Major Capital Improvements Completed | $1.4MM+ Invested Since 2021
Renovation Strategy Driving $237 in Effective Rent Upside
Fox Run presents a compelling opportunity to finish out a well-executed value-add program and capture meaningful rent growth. With approximately 86% of units already upgraded, new ownership can benefit from in-place renovation momentum while still having the opportunity to renovate the remaining 15 classic units. Stabilized market rents are $109 above current asking rents, and the effective rent delta across the asset is approximately $237 per unit. This creates a clear path to increasing revenue through a mix of targeted interior upgrades and continued loss-to-lease burn-off, all within a stable, high-performing asset.
Rent Increase of 9.0%+ on Lease Trade Outs / New Leases
Fox Run is delivering impressive rent growth, with recent leases averaging nearly 9% on new move-ins and roughly 5% on renewals. This performance highlights strong tenant demand and sustained pricing power. The strength of both new leases and renewals gives new ownership a proven foundation to drive continued rent growth and maximize revenue.
85% 2- and 3-Bedroom Unit Mix with 1,000+ Sqft Floorplans & Full Amenity Offering
Fox Run offers an efficient unit mix, with 85% of units in two- and three-bedroom layouts that remain in strong demand. Homes average 1,034 square feet and feature open-concept living, spacious kitchens, large closets, private outdoor space, and in-unit washer/dryers. The property is enhanced by a full amenity package, including a resort-style pool, clubhouse, fitness center, and detached garages. With generous floorplans and well-rounded amenities, Fox Run appeals to families, professionals, and roommates seeking space, comfort, and convenience.
