Lawrence, KS Apartment Buildings for Sale

1 properties available.
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Lawrence, KS 66049

Multi-Family

$24,500,000286,446 SF

Offered for acquisition is a 332-unit (332-bedroom) multi-family portfolio comprised of two projects located in Lawrence, Kansas. The seller is motivated and wants to execute a PSA soon rather than broadly market. Pricing is under all other recent sales in the city. Rents are similarly below market. The new owner should experience significant upside through acquisition of these two assets. Newly online in Spring 2015, Apartment on Sixth features 286-units and 286 beds and Crossgate Casitas, completed in 2011, features 46-units and 46-bedrooms. Apartment on Sixth is quickly approaching stabilization with current occupancy exceeding 92%. Crossgate Casitas is 100% occupied. The seller anticipates the portfolio will be 100% occupied by closing. Prospective buyers are urged to request diligence, underwrite, and submit as soon as possible.

Lawrence, KS Apartment Buildings for Sale

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