5245 Overland Drive, Lawrence, KS 66049 (MLS # 2536000)

Save to Favorites

Print

Share

Share via

Twitter

Facebook

Email

Email a Friend

Your Email

Friend's Email

Note

Are You Human? 1 + 1 =

PRICE $5,000,000 BEDS 0 BATHS 0 HOME SIZE 62,000 sqft LOT SIZE 2.30 ac Schedule a Showing

Overland Pointe: Fully leased 27-unit townhome community in northwest Lawrence, available as a single investment package. A future owner has the option to convert the units into condominiums, as condo unit recordings are already in place with the Douglas County Register of Deeds. Currently managed by Location Properties with a 100% occupancy rate, the property generates $40,800 in monthly rent ($489,600 annually), with projected rent increases raising annual income to $518,400. Each unit includes an enclosed two-car garage, driveway space for two additional vehicles, and access to 22 extra parking spots for guests. The property is just west of Walmart and the new Lawrence Police Station, with two on-site fire hydrants for added protection. Tenants enjoy modern appliances, in-unit washers and dryers, and fireplaces. The landlord handles mowing and snow removal, while tenants cover utilities. The community features two floor plans. Floor Plan A, found in eight end units, has a ground-level two-car garage, storage spaces, and a main level with an open living, dining, and kitchen area, half bath, and deck. The top level includes a primary suite with a double-sink ensuite bathroom, a second bedroom with an ensuite full bath, and a hallway linen closet. Floor Plan B, in 19 middle units, has a similar layout but includes an 8x6 storage space on the ground level. Located in a quiet and secluded setting, Overland Pointe offers easy access to I-70 and is near shopping, dining, and grocery stores. Its excellent location, strong rental income, and future condo conversion potential make it an outstanding investment opportunity. Each townhome features a well-designed bi-level layout with modern finishes and spacious living areas, making them highly attractive to tenants. With increasing rental demand in the area, Overland Pointe offers stability and growth potential for investors. A rare chance to acquire a high-performing, turnkey rental community in a thriving market.