Conquistador Merriam, Kansas

Investment Highlights

• $300+ Per Unit (Monthly) in Proven Value Add Upside with Interior Upgrades
• Incredibly Well Positioned for Value-Add Implementation
• Prime Johnson County Location – Rated A+ by Niche  
• Located in Leading Shawnee Mission School District 
• Great Highway Connectivity | Proximate to Key Demand Drivers
• Offered with Attractive In-Place Financing

$300+ Per Unit (Monthly) in Proven Value-Add Upside with Interior Upgrades 

Constructed in 1970 and renovated in 2023, Conquistador offers classic interior finishes in roughly 70% of units, giving new ownership the opportunity to achieve significant rent upside of over $300 per unit (monthly). Cosmetic upgrades have been implemented on 30% of the units, successfully proving the upside potential. Depending on the floorplan, the top premiums for these renovation averages range as high as $350 for 1-bedroom units, $300 for 2-bedroom units, and $215 for 3-bedroom units. Cosmetic upgrades to the kitchen cabinets, combined with the addition of vinyl flooring and solid-surface countertops, in addition to new stainless appliances, upgraded bathrooms, and an updated lighting package will enable annual rental income to be pushed significantly!

Incredibly Well Positioned for Value-Add Implementation 

Located in the extremely desirable Merriam submarket, the Conquistador Apartment complex is well-positioned in an area with plenty to see and do. The Merriam submarket still maintains the highly coveted “hometown” look and feel yet boasts all the amenities of the big city with none of the hassle of the hustle and bustle. With vintage unit interiors that provide robust foundation for modernization, the property is certainly primed for value-add modernizations and upgrades.

Prime Johnson County Location – Rated A+ by Niche 

Ranked one of the best places to live in the entire country, Johnson County, KS boasts the most beautiful parks and a lively downtown area with an abundance of sights, shops, and some of the best bites around. With an overall rating of A+ from Niche, the county ranks incredibly high in the housing arena, including but not limited to the following areas:

• “Good for Families” – A+ Rating

• “Jobs and Public Schools” – A Rating

• #1 Best County for Families in Kansas

• #1 Best County for Young Professionals in Kansas

• #1 Best County to live in Kansas

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