Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Year Built 1980
Building Area
Number of units 144

Property description

JLL is pleased to present Westport Apartments, a 144-home garden-style apartment community located in Wichita, Kansas. Built in 1980, the property has proven value-add upside through the continuation of the interior renovation program. Less than 5 miles from downtown Wichita, Westport Apartments is located in the Southwest Village neighborhood, which is home to a robust resident workforce. The property boasts proximity to I-235 and the Dwight D. Eisenhower National Airport, and residents benefit from having direct access to Wichita’s top employers, schools, shopping centers, and recreation destinations. Westport Apartments presents investors with an exceptional opportunity to acquire a high quality asset with proven value-add upside in a fundamentally strong market.

Investment highlights

Highly Affordable Rent

  • 10% rent to average income ratio

Proven Value-Add Program

  • 15% achieved return on cost

Limited New Supply

  • Only 1 property delivered within a 3-mile radius since 1990

Significant Rent Growth Potential

  • Lowest per unit rent amongst comp set

No Outstanding Deferred Maintenance

  • $625,000 invested in capital improvements since 2018
Last Updated Date: 10 Jun 2021
David Gaines
David Gaines
Managing Director, Capital Markets
Broker Licenses
IL-475.137087
Kyle Butler
Kyle Butler
Director, Capital Markets
Broker Licenses
IL-475.175786

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Last Updated Date: 10 Jun 2021

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