Passive Investment Opportunity

Canopy Creek Apartments

This is a fantastic value-add opportunity in Jacksonville, Florida.

Sign up to access the Investor Kit which includes the live webinar replay, updated offering memorandum, and investor portal access with all the due-diligence documents.

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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.

Short Intro Video

Offering Memorandum

Investment Overview

This fantastic value-add opportunity is located in Jacksonville, FL and consists of 27 buildings and 288 units.

On average, the current rent is $50-$75 below market rate for units with a similar interior. After renovations, the rents can grow up to an additional $225 to meet market rates for renovated units.

If you’re an accredited investor, click the button below to register for our live investor webinar on April 22nd at 5PM to get all the details about this investment and ask any questions you may have in our live Q&A portion.

Can’t Attend? Register anyway and we will email you once the replay becomes available. But don’t wait too long, our previous deals were over-subscribed just days after the live webinar!

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

18%

Targeted IRR

10-12%

Projected Annual
Cash-on-Cash

1.9X

Targeted Equity Multiple

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8%

 Preferred Return
 

Access The Investor Kit

Included in the Investor Kit is the live webinar replay, updated offering memorandum, and investor portal access with all the due-diligence documents so you can be fully informed and invest today.

Take a Tour

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

Opportunity Summary

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Pandemic Resilience

Landlord Friendly State:

  • Florida is a very pro-landlord state
  • The government is providing significant assistance programs for residents who cannot pay rent.
  • Jacksonville MSA has an unemployment rate of 5.1%, leading all markets in the state and beating the national average of 7.9%.

Resilient Renter Base

  • A & B Class residents with higher education and income are less impacted.
  • We are focusing on ‘grey collar’ residents who typically have fewer collection issues. 
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Timeline

0-24 Months

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Put in place new property management

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Complete exterior upgrades and improvements

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As units turn, roll out interior operational upgrades – faucets, LVP, bathroom reno

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Continue pushing rents on renewals to catch up to market rents

18-36 Months

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Continue stable operations

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Begin testing higher upgraded units to see what the market will bear

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We anticipate doing a supplemental loan at end of year three to be able to return 50% of capital back to investors

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Continue cash flowing

Property Details

The Property

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Year Built: 1975

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Buildings: 27 Total | 25 Residential

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Units: 288

Property Amenities

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Gated Entrance

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24×7 Laundry Rooms

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Resident Lounge

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Clubhouse & Business Center w/ High-Speed Internet

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Outdoor BBQ Station

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2 Resort-Style Swimming Pools

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Playground Area

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Expansive Fitness Center

Jacksonville, FL

Jacksonville has been ranked as one of the best places to buy rental property for 2021. Real estate investors looking for cash flow and equity growth over the long-term should benefit by owning good rental housing in Jacksonville due to the area’s strong job and population growth, and affordability.

Key Market Stats
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Jacksonville is growing fast. Jacksonville grew by 2.5% in population in 2017 and about 44% of the population rent the homes they occupy.

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Florida is ranked #4 with the strongest economy in the states. There’s a lot of jobs and future job growth in Jacksonville.

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The median home value is around $200,000 and median rents per month are around $1,350 a month, which means the city is affordable for investors and tenants. Now would be a good time to invest because home prices are expected to rise in the city by 4.4% in the next year, which is a rate double the national average.

Renovations

Current

Planned

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Original Appliances

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Original Fixtures

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Laminate Countertops

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Original tile or faux wood flooring

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Original Cabinetry

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Install black or stainless-steel appliance package

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Install kitchen backsplash

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Resurface kitchen and bathroom vanity countertops

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New shaker-style cabinet faces

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Upgraded plumbing, lighting and hardware to brushed nickel

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Install laminate vinyl plank flooring

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New brushed nickel fixtures and lighting

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2-inch faux wood blinds

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Two-tone designer inspired paint

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Addition of washer/dryer connections and appliances in all floor plans

Capital Improvements

Interior

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Addition of upgrades appliance package

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Install kitchen backsplash

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Resurface or replace faux-granite kitchen and bathroom vanity countertops

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Install new shaker-style cabinet faces

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Upgrade to brushed nickel hardware

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Upgrade lighting and plumbing fixtures

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Addition of washer/dryer connections and appliances in all floor plans

Exterior

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HVAC replacement (all units)

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Plumbing repairs and improvements

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Sealing and striping to enhance parking lot

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Tree trimming and landscaping upgrades

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Painting to enhance curb appeal

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Addition of dog park

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Electrical panels

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Addition of outdoor grilling station at both pools

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Gutters/drainage repairs

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Upgrade community space and fitness center

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.

Get Access to The Investor Kit

Included in the Investor Kit is the live webinar replay, updated offering memorandum, and investor portal access with all the due-diligence documents so you can be fully informed and invest today.