Here is why we love this deal!
Desirable Multifamily Location
- Located near retail, employers, and attractions with a growing population and income supporting higher target rents.
- Lack of good quality housing in the area, driving demand for this property with a history of 95%+ occupancy.
- TN is a landlord-friendly state. No significant collections issues through COVID.
Value-Add Opportunity
- $75-$150 / month below market rents.
- Good structural condition, in need of cosmetic updates and deferred maintenance remediation to drive rents higher.
- Making a pet-friendly community will increase demand and drive pet rent collections
Great Financing
- Seller financing, 8 year fixed 3.5% interest rate – Creates flexible timing to refinance or exit.
Strong Targeted Returns
- Average Annual Return: 17+%
- Cash on Cash (excludes sale): 9.0%
- Cost segregation and bonus depreciation will generate paper tax losses in year 1.
Experienced Team
- “Boots on the ground” local sponsors with several successful properties in the area.
- Currently involved in over 1300+ apartments.
$50K minimum investment. 506c - Offering (Accredited Investors)