Huge Upside to be Unlocked through Unit Renovations & Streamlined Management  

Pheasant Run offers nearly 40% classic units, giving new ownership the opportunity to achieve significant rent upside of ~$240/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 $475,000. Current operations can also be streamlined, providing further upside opportunities.

Well-Kept 1980s Vintage Asset 

Built in 1985, Pheasant Run offers modern construction that has seen consistent upkeep. This allows a new owner to focus their attention and capital on property-wide unit upgrades and strategic amenity / exterior improvements.

Unique Market Dynamics in Lee’s Summit Create Ideal Value-Add Opportunity

Lee’s 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 has 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.