PROPERTY OVERVIEW

This multifamily community is located in a stable residential and commercial area. Residents have an easy connection to many attractions within reach such as shopping centers, schools, churches, businesses, popular restaurants, and the hospital. The community features a sizeable pool with a large lounge area, onsite laundry facilities, picnic area with grills, mature landscaping, onsite property management and maintenance.

New ownership can immediately take advantage of the below-market rental rates and increase rents immediately.  New ownership can also advantage of the value-add opportunity by modernizing the asset through interior renovations to increase rental rates further. 

INVESTMENT SUMMARY

ORGANIC RENT GROWTH

New ownership can capitalize on strong rent growth seen across the market.

  • Rents can be increased organically by an average of $105/unit based on supported comparables.
  • By increasing below-market rents, annual rental revenue
    will grow by
    15%.
  • Concessions are projected to be close to 0% through 2026.
  • Vacancy rates are projected to be 2% through 2026.
VALUE-ADD POTENTIAL

Opportunity to further push rents by offering affordable, updated units and improved amenities.

Rents can be increased by an average of $85/unit based on market comparables with minor upgrades. Together with organic rent growth, annual revenue will grow by 26%.


Value-add opportunities:

  • Select unit interior upgrades
    • stainless steel appliances
    • LVP flooring
    • bathroom vanities/cabinets
    • hard-surface countertops
  • Installation of a small dog park
  • Parking lot repairs
  • Minor landscaping
  • Installation of a playground
  • Exterior painting

PROPERTY INFO ACCESS

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CONTACT US

Windy Parsons
Sweetwater Capital
(336) 688-2320

Brandon Fox
Sweetwater Capital
(919) 670-9814

Don-Carlos Moniz
Sweetwater Capital
(910) 988-6653

Rosalyn Funez
Sweetwater Capital
(919) 364-6773

Jackson Howard
Sweetwater Capital
(910) 483-0516