Pin Oak Acres Apartments
Location: Leavenworth, Kansas
Units: 152
Pin Oak Acres Apartments are located in Leavenworth, KS, a workforce housing community and a submarket of Kansas City MSA, which has seen a steady population growth pattern that surpassed the national five year growth rate (4.37% vs 3.52% respectively, per Census.gov). In Leavenworth, where this property is located, annual rent gains continue to be strong at 6.2% (per Apartment Data, Inc as of Dec 2019).
This project was purchased in February 2020 and is returning 10.0% cash on cash return and an internal rate of return of 19.3% to investors.