2974 W OKLAHOMA AVE, ULYSSES, KS 67880-9246 For Sale

Robust Historical Performance with Meaningful Upside

Over the approximately three years of current ownership, the owners have demonstrated a strong track record of performance, particularly in rental collections. The current ownership team has excelled in community management, implementing technology enhancements, connecting the property to city water, and driving NOI growth while leaving meaningful upside for the next owner.

When benchmarked against the broader Southwest Kansas market, Bedrock MHC's rents remain significantly below those of comparable communities, creating a compelling return profile through achievable rental increases in the coming years. In addition to rent upside, a new owner can pursue modest infill opportunities by selling homes to new residents, supported by Ulysses' median home prices north of $160,000. Furthermore, the limited availability of rental stock in the area remains at critically low levels, underscoring strong demand for additional affordable housing options.

Majority Resident Owned Homes

Of the physical homes onsite at Bedrock MHC, 98.6% are tenant owned. The single remaining inventory home is currently under a rent-to-own contract, with the tenant having already completed approximately half of their commitment. The high percentage of tenant-owned homes enables new ownership to drastically reduce repair and maintenance budgets, as most upkeep responsibilities fall under the residents.

Strong Regional Economic Fundamentals

Southwest Kansas has long proven to be an economy built on strong, resilient fundamentals that withstand broader market conditions. The economy is centered around agriculture, cattle feeding, and both food/beef processing, which continue to weather economic headwinds and be strong spokes in the wheel. In addition to agricultural related industries, Southwest Kansas sits atop the Hugoton Gas Field. Ulysses and Grant County are situated right in the middle of this iconic American natural gas field. Together, these industries provide reliable employment to residents throughout the region.