Somerset Court – 28 Units (Status: Active)

Investor Projections:

• Equity Multiplier 1.72

• Average Annual Cash Return 7.60%

• Average Annual Return 14.54%

The property is a 2003 asset with significant opportunity for modernized interior and some exterior renovations. The asset is located in the highly desirable Sellersburg, IN (Louisville MSA).
Previous owner successfully implemented a multi-tier interior renovation program which has resulted in an upward trend in collections. Even with the proven value-add program and increased collections, the property is seen as a value provider within its competitive set and is poised to increase income via mark-to-market and loss-to-lease burn-off opportunities, in addition to premium upgrades within the units.

Race Street – 34 Units  (Status: Active)

Investor Projections:

• Equity Multiplier 2.03

• Average Annual Cash Return 9.17%

• Average Annual Return 20.62%

It is rare to find such a gem nowadays: sourced completely off-market, units are 95% renovated, the appraisal came in $350K over our purchase price, property 100% occupied upon takeover, strong cash-flow even that the rents are $200 below market rents for the area. 

The 902 – 93 Units (Status: Active)

Investor Projections:

• Equity Multiplier 2.47

• Average Annual Cash Return 9.32%

• Average Annual Return 21.07%

The property has been operating as a mixture of weekly and monthly rental, and primed for a re-bran/reposition. There is a tremendous amount of operational efficiencies to implement, the current payroll expenses exceeds $200K annually simply because of management overhead. Moving away from the weekly rental base and getting stable annual tenant base (along with increasing the rents by $260+ to the market level) will help us to turn the property around.

Pine Village – 76 Units (Status: Active)

Investor Projections:

• Equity Multiplier 2.06

• Average Annual Cash Return 8.94%

• Average Annual Return 15.34%

At the time of the purchase property only had 10 renovated units out of 76 units. The renovated units are achieving premiums of $140+ per month. Upon acquisition the new managers began exterior renovations: repaired parking lot, removed overgrown trees, updated landscaping, added security fence. Additionally, interior renovations being completed by replacing appliances, countertops, flooring, and painting the units.

Darby Florence – 71 Units (Status: Active)

Investor Projections:

• Equity Multiplier 2.82

• Average Annual Cash Return 18.66%

• Average Annual Return 21.38%

Darby Florence was purchased with many tenants not paying their rent, and a lot of deferred maintenance on the property. Business plan was to improve exterior of the property, renovate the units, and slowly push the rents to the market – the plan is being implemented perfectly by our Team and our Property Management. 

Clearwater Manor – 24 Units (Status: Active)

Investor Projections:

• Equity Multiplier 2.21

• Average Annual Cash Return 8.61%

• Average Annual Return 18.17%

Clearwater Manor is a Multi Family property in Myrtle Creek, OR. The property have a mixture of One, Two and Three bedrooms, and have amenities such us In-unit Washer/Dryer, On-site Laundry Center, Extra Storage space, etc. The rents on the property is below the market, and even that One bedroom unit is just slightly below market rent, the Two and Three bedroom units could achieve $150+ rent increase with basic renovation.

Falcon Manor – 20 Units (Status: Active)

Investor Projections:

• Equity Multiplier 1.99

• Average Annual Cash Return 9.93%

• Average Annual Return 15.85%

Falcon Manor was an off market deal in Montevallo AL. The property was build in 1979, but was recently updated (new roof, updated electric system, etc). We were able to implement a value-add by pushing the rent to the market.