1910 John F Kennedy Street, Pittsburg, KS 66762 - Crawford County

The subject offering consists of 24 buildings and 37 units located throughout Pittsburg, Kansas. The non-contiguous portfolio is comprised of both single-family rentals (11 in total) and duplexes (13 in total) – 22 legal parcels. Pittsburg, home of Pittsburg State University, is known as a college town with strong rental demand given its makeup. The portfolio is stabilized at 95% occupancy and currently owner-operated with a history of high occupancy. The portfolio offers a variety of floorplans including one-bedroom, two-bedroom and three-bedroom units as well as varying locations in central, northern and southern parts of Pittsburg. This portfolio has been acquired over time with the first rendition of renovations completed in 2016 to 13 units. Ownership continued to grow their portfolio, and over the last 3 years, has completed significant cap ex, including 7 to-the-stud renovations presenting as a turnkey products (94%). A large majority of these renovations were carried out in 2023 and 2024 (17 total) and the finish level varies by unit/building.

Units/buildings in the portfolio feature central air or mini-splits for cooling, fully equipped kitchens, laundry, off-street parking and functional floorplans. Specific units/buildings feature garages (2), quartz countertops (14), granite (3), new windows (10), new roofs (10), new paint (24), tankless hot water systems (10), new cabinets (18) and new wiring (4). All buildings/units are separately metered for gas and electric. Two single-family rental buildings (609 & 611 E. 9th Street) are currently being renovated and will be completed prior to the sale of the portfolio. New ownership has the flexibility to sell buildings off individually over time to net higher overall profits or continue to manage the properties as-is with small incremental improvements over time.

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