Passive Investment Opportunity

Atlanta Apartment Portfolio

This is a fantastic 94-unit value-add opportunity near Atlanta, GA.

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QRP, Solo 401(k), SD-IRA

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506(c) For Accredited Investors Only

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18% Targeted IRR

Note: This 506(c) syndication is open to ACCREDITED investors only.

Atlanta Portfolio Presentation

Investment Overview

This fantastic value-add opportunity is located near Atlanta, GA and consists of a portfolio of 94 units across 21 buildings in 2 properties.

On average, the current rent is ~$140 below market rate for units with a similar interior. After renovations, the rents can grow up to an additional $100 to meet market rates for renovated units.

If you’re an accredited investor, click the button below to register for the webinar to get all the details about this investment.

Note: This 506(c) syndication is open to ACCREDITED investors only.

18%

Targeted IRR

10%

Projected Annual
Cash-on-Cash

2.0x

Targeted Equity Multiple

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8%

 Preferred Return
 

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Note: This 506(c) syndication is open to ACCREDITED investors only.

Opportunity Summary

Opportunity

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The opportunity begins with improving operational inefficiencies

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Physical vacancy of 90% & 94%; economic vacancy of ~25%

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Current expense ratio of ~60%

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Current average rent of $553 (T12), which is ~$140 below market

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Significant capital investment; repositioning to serve workforce

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CapEx budget of ~$12,000/ unit to add a rehab premium of $100/unit

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In the past the properties have not been advertised

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Put in place new property management

Strategy

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Renovation of interiors; update kitchen, floors, appliances, etc.

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Exterior improvements to improve the curb appeal, and to provide the basis for early rent bumps

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Install professional 3rd party marketing company, SMP

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Workforce housing is a high-demand/low-supply market segment

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Implementation of utility reimbursement from tenants (RUBS)

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Ability to raise rent by ~$240

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Increase of NOI by ~$240k by year 5; ~$4MM valuation increase

Property Details

Mills Crossing

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Year Built: 1986

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Acres: 3.1

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Units: 40

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Buildings: 11

West Lake Crossing

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Year Built: 1974

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Acres: 2.86

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Units: 54

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Buildings: 10

Location

LaGrange, GA

Located about 70 miles southwest of Atlanta, LaGrange is a growing city with a small-town atmosphere in Troup County. Historical attractions are plentiful in LaGrange, containing the Hills and Dales Estate, Biblical History Center, and the LaGrange Art Museum. LaGrange is also home to LaGrange College, the oldest private college in Georgia.

Area Overview

Situated in the foothills of the Georgia Piedmont, LaGrange is steeped in natural beauty. Recreational opportunities abound at Boyd Park and nearby West Point Lake. Getting around from LaGrange is simple with access to U.S. 27, U.S. 29, I-85, and I-185 as well as Hartsfield-Jackson Atlanta International Airport.

We Are Multifamily Investment Professionals

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Experienced

With a combined 100+ years of experience and $300MM in closed multifamily transactions, we have the subject matter expertise, key relationships, and proven track record to execute profitable deals.

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Conservative

We are opportunistic investors focused on creating long term value. We stress test our deals and use leverage carefully to create sustainable cash flow and limit our risk.

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Diligent

Closing a deal, while challenging, is the easy part. Executing on the business plan is the hard part. It takes perseverance and persistence to achieve what we set out in our underwriting.