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Dharam Chaudhari

dharam@reco.realestate +1(913) 906-8600

Listed by Parker Beck • Compass Realty Group

$5,565,000

Est. payment - /mo

5.07 Acres Lot

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Package of Properties

Listing Status Active

Purchase Type For Sale

MLS Listing ID 2645245

Year Built 1910

Annual Tax Amount $36,347

Lot Size 5.068 Acres

Acres 5.068067

Property Sub-Type Package of Properties

Source hmls

Property Description

The subject offering is a 44-unit, 30-building portfolio located throughout Pittsburg, Kansas. The non-contiguous portfolio has 16 single-family rentals and 14 duplexes across 28 legal parcels. Pittsburg is home to Pittsburg State University, and its university-anchored economy supports consistent rental demand throughout the market. The portfolio is stabilized at 95% occupancy and has a history of high occupancy under its current owner-operator. It offers a range of one-, two- and three-bedroom floorplans in the central, northern, and southern parts of Pittsburg, giving prospective residents a variety of unit types and locations. Ownership began assembling the portfolio in 2016, when the first acquisitions and renovations were completed. Since then, ownership has continued to expand the holdings and has invested significant capital in improvements. The result is a turnkey offering that is approximately 97% renovated. Finish levels vary by unit and building; detailed property-level notes are provided on the following pages. Units feature central air or ductless mini-split cooling, fully equipped kitchens, laundry, off-street parking and functional floorplans. Depending on the property, upgrades include garages, quartz or granite countertops, new windows, new roofs, fresh interior paint, tankless water heaters, new cabinetry, new water and sewer lines, new flooring, new siding, new kitchens/bathrooms and updated electrical wiring. Every building is separately metered for gas and electric. The portfolio gives a new owner strategic flexibility. An investor may hold and operate the properties as currently configured, adding value through modest incremental improvements over time. Alternatively, an investor may sell individual buildings over time to potentially maximize overall returns.

Location

State KS

County Crawford

Zoning R

Interior

Heating Forced Air, Other

Cooling Electric, Other

Fireplace N

Exterior

Parking Features true

Utilities Available Cent Water Heater, Ind Heat And Air, Ind Water Heaters, Separate Meters

Roof Type Composition

Building

Story 1

Sewer Public Sewer

Water Public

Structure Type Brick/Mortar,Frame,Vinyl Siding

Schools

School District Pittsburg

Others

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

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Dharam Chaudhari

+1(913) 906-8600

FOUNDER | CEO License ID: Licensed in KS,MO,IA,NE

509 E Jefferson ST Pittsburg, KS 66762

Dharam Chaudhari

Key Details

Location

Interior

Exterior

Building

Schools

Others

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509 E Jefferson ST