Contacts
Property Details
- Property Type Other
- Date Updated Jul 20, 2025
THREE PROPERTY PORTFOLIO WITH PROVEN VALUE-ADD UPSIDE
Colliers is pleased to present Pebblebrook, Sandstone, and Cambridge Square (“the Kansas Value-Add Portfolio”), 400 units with significant value-add scale and upside located near Kansas State University in Manhattan, KS. Located within minutes of each other, the Kansas Value-Add Portfolio offers operational efficiencies and a clear path to increase top-line revenue through a strategic unit interior renovation program. Of the portfolio’s 400 units, 348 units (87%) are in near original condition featuring oak cabinets, laminate countertops, and white appliances. 52 units (13%) have been recently renovated with stainless steel appliances and new fixtures to achieve average rents $137 to $163/unit above unrenovated units. New ownership can either continue the successful renovation program or elevate all 400 units with premium finishes such as stainless steel appliances, modern white cabinets, backsplash, a tech package, and granite countertops to unlock the portfolio’s full potential.
Positioned less than 10 minutes from Kansas State University (20,300 students and 9,000 jobs), the Kansas Value-Add Portfolio has a proven track record of stable occupancy and outstanding organic rent growth (up to 26% on new leases over the last 12 months). In excellent physical condition, Pebblebrook, Sandstone, and Cambridge Square offer new ownership the ability to leverage strong demand, no new supply in Manhattan over the next 36+ months, and excellent 12.3% market rent growth in 2025 (RealPage) to push top-line revenue and time value-add improvements perfectly.
PROVEN VALUE-ADD UPSIDE: Lightly renovated units are achieving average rents up to $163/unit higher than unrenovated units
Pebblebrook - 95% | Cambridge Square - 92% | Sandstone - 96%
Reach out to the broker for more info on lease terms and amenities
Getting around
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84/100
Walk Score ®
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85/100
Bike Score ®
Location
- City Manhattan, KS
Points of Interest
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Shell
0.50 miles
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KwikShop
0.51 miles
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Blue Earth Plaza Charging Station
0.78 miles
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Hy-Vee Fuel
0.79 miles
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Cenex
0.81 miles
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Phillips 66
1.77 miles
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Dillons
2.23 miles
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Courthouse Plaza Parking Lot
0.55 miles
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A1
0.56 miles
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Public Parking
0.56 miles
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A1A
0.57 miles
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A2
0.61 miles
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A3
0.65 miles
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K-State Parking Garage
0.73 miles
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E1
0.73 miles
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E16
0.79 miles
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D1
0.90 miles
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Courtyard Manhattan Aggieville
0.49 miles
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The Bluemont
0.55 miles
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Parkwood Inn & Suites
0.59 miles
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Holiday Inn
0.66 miles
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Fairfield Inn
0.70 miles
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Hilton Garden Inn
0.74 miles
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Candlewood Suites
0.80 miles
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Holiday Inn Express & Suites
0.84 miles
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Super 8
0.95 miles
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Quality Inn & Suites
1.04 miles
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Yi's Oriental Market
0.20 miles
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Burlington
0.73 miles
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Dillard's
0.75 miles
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Manhattan Town Center
0.76 miles
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Hy-Vee
0.79 miles
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JCPenney
0.82 miles
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La Estrella Store
0.88 miles
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Dillons
0.95 miles
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ALDI
1.01 miles
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Walmart Supercenter
1.12 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.