We are offering Preconstruction 4 PLEXES (2 STORY, 4 UNITS) located in Lee Mill Heights (zip code 66503) of Manhattan, Kansas. A new development in a prime location to Fort Riley US Military Base and 1 mile from Kansas State University. Manhattan is expected to double its population over the next 4 years. With its close proximity to Fort Riley US Military Base and Kansas State University these units will be in high demand. The Lee Mill Heights development is situated conveniently between Ft. Riley and Kansas State University, Manhattan airport and Colbert Golf Course. A very desirable location for any type of tenant (Military, Student, Employee).

Fort Riley Expansion creates Military Family Housing Demand well into 2012
Major Economic & Job growth over the next 4 years and beyond
Population will double over same period
Kansas State University Student Housing Demand
New Elementary school being built within walking distance (creating a family community)
Near Colbert Golf Course (Kansas's largest public golf course)
Excellent On-site Property Management in place at 5%/month (industry norm is 10%-12%/month)
The city of Manhattan is scrambling to build the infrastructure to handle the arrival of troops into the Fort Riley area. There was and still is a housing deficit even after the Fort Riley announcement. When the Military families start moving in Manhattan housing preference will be on the west side of Manhattan.

The location of this development, Lee Mill Heights is situated at the west end of Manhattan near the main roads (Anderson Ave. & Ft. Riley Blvd) from Fort Riley & Manhattan Regional Airport that lead directly into Manhattan.

With the still increasingly high demand for rental housing (read the report in Additional Info & Links section) in the area the risk has been drasticallly reduced for investors while still having great upside potential.
The timing and positive conditions surrounding this investment couldn't be better and improves well into and beyond 2012.
Conservatively appraised at $606,000 as of January, 2007
Bulk Sale of initial 10 Four Plexes sold at $650,000 per building

PRICE: $509,000 per 4 PLEX Building / $254,500 per Half 4 PLEX Building
2% CLOSING COSTS PAID

ADDITIONS INCLUDED FOR EACH UNIT: GE Refrigerator, GE Range, GE Dishwasher, GE Micro hood, Built-in Microwave, Garage Door Opener,
Washer and Dryer, Fireplace

Each unit is rent ready for your potential tenants to move in or yourself to live in.

You can live in one of the units while renting the other 3 units out.

Community Pool, Playground, near transit, convenient location for military, student, general, etc.

Construction to begin March 2008 will be completed in time to handle the influx of tenants due to the expansion of the troops (40,000+ into 2012 with 21,000+ arriving July '08!) in Fort Riley.

With the real estate markets in Southern California, Florida, Las Vegas struggling, Manhattan, Kansas is trying to keep up with the high housing demand now and for the next four years. If you are an investor and concerned about the current state of the real estate market there is not a better ground floor opportunity than this one.

You can purchase the entire building as an investment property or purchase it owner occupied and live in 1 unit yourself while renting out the other 3 units.

For detailed info please visit: http://www.fs-bd.com/

FOR SALE BY DEVELOPER, LLC
6800 College Blvd. Ste 200
Leawood, KS 66211
(913)226-1101

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This should be good stable investing if the Ft is expanding. Many military families stay in the area long after leaving the military or leave their family if they have a temporary assignment elsewhere.