💰 INVESTMENT SNAPSHOT
- Projected Gross Income: $12,150/month ($145,800/year)
- Income Breakdown:
- 13 Bedrooms @ $750 = $9,750/month (Co-living “Padsplit” model)
- 1 Apartment = $900/month (traditional LTR, STR or Padsplit)
- 2 Commercial Units = $1,500/month (long term commercial tenants)
- Estimated NOI: ~$75K – $90K
- Purchase Price: 250K
- Estimated Renovation: $220K – $250K
- Projected Stabilized Value: ~$750K – $1.1M+ (income approach & market cap rates)
- Primary Strategy: Padsplit / Co-Living + BRRRR Refinance
🏢 PROPERTY OVERVIEW
This is a high-yield repositioning opportunity located in downtown Leavenworth, combining residential co-living income with commercial storefront upside.
Property Features:
- 3 apartments with 13 potential rentable bedrooms (ideal Padsplit model)
- 1 single-bedroom apartment
- 2 commercial storefronts
- Downtown location with strong rental demand
🚀 VALUE-ADD STRATEGY
Phase 1 – Renovation & Reposition
- Full interior + exterior renovation
- Optimize layout for co-living / Padsplit model
- Stabilize rents based on current projections
Phase 2 – Stabilization
- Achieve ~$12K/month gross income
- Build consistent occupancy across residential + commercial
Phase 3 – BRRRR Exit
- Refinance based on income
- Potential valuation in the $850K – $1.1M+ range
- Retain asset for long-term cash flow or exit
🎯 MULTIPLE EXIT STRATEGIES
- Padsplit / Co-living (Highest cash flow)
- Traditional rental conversion
- Mixed-use hold (retail + residential)
- Long-term commercial reposition
- 1031 exchange
📍 STRATEGIC LOCATION ADVANTAGE
Downtown Leavenworth + Fort Leavenworth Positioning
Located in downtown Leavenworth, this property sits in a highly strategic corridor between:
- The historic downtown business district
- And the nearby Fort Leavenworth Army base
🎯 Why This Location Is a Major Advantage
This is NOT just a location—it’s a built-in demand generator.
💂♂️ Military Demand (Consistent & Reliable)
Fort Leavenworth is a major U.S. Army base that brings:
- Active-duty personnel
- Civilian staff
- Contractors
- Short-term trainees
👉 These groups create constant housing demand, especially for:
- Affordable rooms
- Flexible living arrangements
- Short- to mid-term stays
🏘️ Why This Is PERFECT for Padsplit / Co-Living
The Padsplit model thrives in markets where:
- People need affordable housing
- There’s constant population turnover
- Renters value flexibility over long-term leases
👉 This location checks ALL of those boxes.
🔥 Direct Padsplit Advantages Here:
- Military personnel often relocate or transition frequently
- Contractors and support staff need temporary housing solutions
- Entry-level and workforce tenants seek affordable room rentals
👉 Result:
Strong occupancy potential + consistent tenant demand
🏙️ Downtown Synergy
Being in downtown adds another layer:
- Walkability to shops, food, and services
- Increased appeal for tenants without vehicles
- Supports the co-living lifestyle model
💥 Investor Takeaway
This location creates a rare combination:
- 📍 Stable demand (military base)
- 🔁 Predicable turnover (ideal for room rentals)
- 🏙️ Lifestyle appeal (downtown access)
👉 Which directly supports:
Higher occupancy, stronger rent consistency, and long-term scalability
💰 Potential Incentive Stack (Value-Add Upside)
May qualify for stacked local, state, and federal incentives to reduce rehab costs and increase returns.
🏛️ Historic Tax Credits
- Federal ~20% + Kansas ~25%+
- Income-producing historic property
- Transferable credits
👉 https://www.ksrevenue.gov/prtaxcredits-historic.html
🏢 City Grant (Up to $15K)
- 50% reimbursement
- HVAC, electrical, plumbing, ADA, buildout
- Multi-tenant eligible
👉 https://www.leavenworthks.gov/ed/page/small-business-grant-program
📉 Tax Abatement (NRA)
- Up to 95% rebate
- On post-renovation value
👉 https://www.leavenworthks.gov/ed/page/city-leavenworth-economic-development-incentive-policy
🏠 ROOMS Grant (Up to $50K)
- Upper-floor housing
- Match + approval required
👉 https://www.kansascommerce.gov/program/community-programs/main-street/rooms/
🏗️ Downtown Incentives
- State tax incentives
- Historic redevelopment
👉 https://www.kansascommerce.gov/program/community-programs/downtown-redev/
💼 Gap Financing
- Up to ~$50K
- Buildout / redevelopment
👉 https://lvcountyed.org/site-selectors/incentives/
🧱 HEAL Grants
- Matching funds
- Exterior / structural
👉 https://www.kansascommerce.gov/qpd/heal/
🏘️ CDBG Funding
- Housing / ADA / infrastructure
⚠️ Disclaimer
Subject to approval. Buyer to verify all programs.
⚠️ FINANCIAL DISCLAIMER
Estimated renovation costs ($220,000 – $250,000) are general guidelines based on a full reposition; actual costs will vary by scope, experience, and contractor pricing.
Projected stabilized value is based on the income approach (capitalizing NOI), which is standard for commercial/mixed-use properties where value is driven by income potential rather than replacement cost or comparable sales.
All financial projections are for informational purposes only. Investors must independently verify assumptions, perform their own underwriting, and assess value based on their strategy and risk tolerance.
📊 DEAL SUMMARY
- Location: 603 N 5th St, Leavenworth, KS
- Asset Type: Mixed-Use / Padsplit Opportunity
🧮 INVESTMENT METRICS
- Purchase Price: 250k
- Est. Renovation: $220K – $250K
- Estimated NOI: $75K – $90K
- Projected Value: $750K – $1.1M+
🔥 Ready to move forward?
We are currently reviewing serious offers and taking highest and best within the next 48–72 hours.
📞 CALL
Serious investors only. Contact now for access, walkthrough scheduling, full photos and financial breakdown.
816-406-0044
ben@turnkeypropertyusa.com