Huge Rental Upside Across the Portfolio 

Pheasant Run and Summit Point offer a portfolio with nearly 60% classic units (100% at Summit Point and 40% at Pheasant Run), giving new ownership the opportunity to achieve significant rent upside of ~$218/ unit/month. Through investing in unit upgrades, amenity modernizations, and strategic exterior cosmetic capex, new ownership will be able to increase annual rental income by approximately $680,000 across the two properties. 

Well-Kept 1980s Vintage Assets 

Built in 1986 and 1985, Pheasant Run & Summit Point offer modern construction and have seen consistent upkeep, allowing a new owner to focus their attention and capital on property-wide unit upgrades and strategic amenity / exterior improvements. 

Unique Market Dynamics in Lees Summit Create Ideal Value-Add Opportunity 

Lees Summit, MO offers some of the best multifamily dynamics of any market throughout the Kansas City MSA. The submarket has seen over 10% rent growth since Q1 of 2021 and maintained a market occupancy rate in the mid 90% range despite having over 1,300 units delivered in the same time period. In addition, Lee’s Summit has some of the best demographics in the Kansas City MSA and has continued to see strong population growth in recent years, exceeding 1% annually.