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Listed by Parker Beck • Compass Realty Group
$ 4,375,000
Est. payment /mo
New
1910 John F Kennedy ST Pittsburg, KS 66762
4.04 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Package of Properties
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2539678
Originating Board hmls
Annual Tax Amount $25,671
Lot Size 4.035 Acres
Acres 4.035193
Property Sub-Type Package of Properties
Property Description
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.
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.
Location
State KS
County Crawford
Zoning R
Interior
Heating Forced Air, Other
Cooling Electric, Other
Fireplace N
Exterior
Parking Features false
Utilities Available Ind Heat And Air, Ind Water Heaters, Separate Meters
Roof Type Composition,Other
Building
Story 1
Sewer Public Sewer
Water Public
Structure Type Frame,Other,Vinyl Siding
Schools
School District Pittsburg
Others
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
