Here is why we love this deal!
Kansas City Metro, Strong Demographics
- 9%+ population growth since 2012
- 6 Fortune 500 companies and 22K jobs were created in 2022
- Apartment vacancy: 2.8%
Overland Park Submarket
- NEWHomeSource's #1 pick for best suburb in KC
- Median household income $91K
- 20 minutes to downtown KC
- School ranking: A+
- Named 15th best city in the country for finding a job by WalletHub (2021)
Value-Add Opportunity
- $7.6M purchase price, well below $12M appraisal in 2019.
- Cap rate arbitrage converting from hotel to multifamily
- Virtually brand new A-Class apartment community with loads of amenities: Fitness, dog park, pickle ball, and BBQ
- Making a pet-friendly community will increase demand and drive pet rent collections
Strong Targeted Returns
- Average Annual Return: 18+%
Experienced Team
- The 4th hotel conversion by this team
- “Boots on the ground” local sponsor
- 15+ years of real estate investment experience
- Licensed General Contractor
$50K minimum investment. 506c - Offering (Accredited Investors)