- For Sale Contact for pricing
- Property Type Other
- Property Size 124,146 SF
- Lot Size 2.85 Acre
- Date Updated Jul 6, 2026
Description
Colliers is pleased to present Stonepost Apartments (“Stonepost”), a 63 unit garden style community offering strategic value add upside in Hays, Kansas. Built in 2007, the property features oversized two and three bedroom floor plans averaging 1,061 square feet, positioning it well to capture demand for larger, higher quality rental product in the market. Stonepost offers multiple avenues to drive value, including conversion of the remaining 53 affordable units to market-rate, with additional value-add potential through interior unit renovations.
As the newest and highest quality multifamily asset in Hays, Stonepost offers new ownership the opportunity to establish the market’s premier apartment community while capturing meaningful rental growth. The property is currently 100% occupied and generating stable in place cash flow, with value-add upside driven by the continued transition to market rate rents.
DEAL SNAPSHOT
In-Place NOI: T12 / Current NOI: $190,034
Stabilized NOI (Year 3): $406,044
Yield on Cost (Year 3): 18.16%
Rent Upside: +$286/unit through mark-to-market (excluding renovation premium)
Conversion Timeline: 36-month path to full market-rate positioning
Positioned directly across from the popular Hays Aquatic Park and in close proximity to Fort Hays State University (12,900 students and 1,500 jobs) and Hays Medical Center (1,000+ jobs), Stonepost is well-located to attract the highest-income renter demographic in the market. New ownership will acquire the newest asset in Hays, supported by no new supply and strong occupancy (averaging 95.4%), providing a clear runway to push top-line rents as units transition to market-rate.
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