Beautiful brand-new construction villa units in Tonganoxie, KS. Each villa is 980 square feet. Buildings are slab construction and contain three, four, or five villa units under one roof with 23,520 total rentable square feet.
Tonganoxie is a city on the rise with manufacturing projects in the immediate area. Just 20 minutes from the new Panasonic EV Battery plant, this project is the largest private investment development in Kansas history, with a total infusion of over 4 Billion dollars. Additionally, this property is located just 3 miles away from the Hills Science Diet’s new manufacturing facility and business park. All of this development is bringing over 8,000 permanent jobs to the immediate area and countless construction jobs and additional investment.
Why we love it: Long-term rentals are easily achieving $1250/mo, which works all day. Doing furnished short and medium-term rentals to accommodate all the skilled workers in the area could really juice the cash flow on this project. This project has tax abatement until 2039 so that the new owner is only paying ~25% of the property taxes they would otherwise pay.
Why we love it: Where to start? New construction that cash-flows? Influx of skilled workers from the largest private infrastructure project with limited housing? Luxury finishes? We love new construction, and we love cash flow, but rarely do the two mix. With this deal, you can have it all. Area exploding in population, limited luxury housing, and ability to cash flow from day one!
The challenge: Formerly a rural area within the Kansas City MSA, this area is developing quickly.
Buyer Detail and Financials