Lodge West 3600 W Kellogg Dr

Northmarq is pleased to offer the opportunity to acquire Lodge West, an 84-unit community with significant renovation potential. By updating the units to a market-level finish, new ownership could increase revenue by over $155,000, as evidenced by Cimarron, a nearby comparable property, which averages rents $210 higher than those at Lodge West.
Located in Wichita, Kansas, the state's largest city with an MSA population exceeding 790,000, Lodge West benefits from a stable multifamily market. Wichita consistently experiences year-over-year rent growth of over 5%, avoiding the challenges of oversupply and overleveraged investors that other markets face. Yardi remains optimistic about the submarket, projecting an average annual rent growth of 5.8% through 2029.
The property is strategically situated near Wichita's two busiest interchanges, Highway 400 and Interstate 35, offering residents easy access to the city's major demand drivers: 5 minutes to Wichita's National Airport, 10 minutes to Downtown, and within 15 minutes of over 65,000 jobs.
Lodge West is positioned across the street from over 40 million square feet of industrial space that employs more than 3,500 people. The community is also within 5 minutes of two of Wichita's largest aviation companies, Textron Aviation (9,350 jobs) and Bombardier (1,500 jobs). Additionally, Lodge West is 5 minutes to three higher education institutions: Newman University (2,800+ students, 200+ staff), Friends University (1,100+ students, 150 staff), and Wichita Technical Institute (1,000+ students, 100+ staff).
Lodge West presents a compelling investment opportunity, with room for revenue growth, solid market fundamentals, and proximity to a diverse range of economic drivers.