Brighton Place - Invest on Main Street

Passive Investment Opportunity

Brighton Place in Augusta, SC

This is a fantastic opportunity to get in on an excellent value-add deal with rents currently well below market rate and sold by a highly motivated seller.

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QRP, Solo 401(k), SD-IRA

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506(c) For Accredited Investors Only

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15-16% Targeted IRR

LIMITED SLOTS AVAILABLE

Core Investment Stats

15-16%

Targeted IRR

10-11%

Projected Annual
Cash-on-Cash

5-10 Years

Holding Period

$100k

Minimum Investment

Get The Investor Presentation

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

Opportunity Summary

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Pandemic Resilience

Landlord Friendly State:

  • South Carolina is very pro-landlord
  • Government is providing significant assistance programs
  • Evictions are still possible when tenant doesn’t follow CDC rules that requires them to provide evidence they are seeking a job, to establish a rent payment plan, etc.

Resilient Renter Base

  • A Class tenants with higher education and income are doing better. We are focusing on ‘dirty white color’ residence which inherently have less collection issues. 

Renovation

With a Capex Budget of $448k, we will be renovating 86 units and updating the exterior of the buildings and common areas. Comparable properties are charging a 150-250 premium for updated units.

Currently this property has NO amenities, once we acquire the property we will add additional value by creating the following:

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Clubhouse

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Outdoor BBQ Station

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Dog Park

Location

Brighton Place sits in an area that has become highly desirable because of its proximity to jobs, shopping, and dining. Located on the Savannah River in the Augusta/Aiken Metropolitan area, North Augusta is minutes away from neighboring Cities of Augusta and Aiken. Brighton Place offers its residents all the advantages of a big city living while still maintaining a small-town charm.

What used to be a C areas are revitalizing as growth extends from the nearby downtowns. As a result, the complex is located in an area that has experienced significant growth as total rent costs have jumped tremendously in the surrounding areas. The average age in the area is 35 – 44, lending itself to a younger demographic looking for high-quality living space.

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Management

The property has been self-managed with a single on-site staff member and no dedicated maintenance tech. Current management does not have professional marketing practices in place to drive higher rents.

We will implement a multidimensional marketing plan that will allow us to create a more intentional target resident profile.

Take a Tour

Capital Improvements

Existing Units

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Most current units have moderate upgrades – Tile or LVT in wet areas, black and/or white appliances, original cabinets

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Tub surroundings are the typical “older look”

Upgraded Units

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Complete LVT

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Replace appliances

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Repaint interior

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Replace bathroom vanity

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Bathroom mirror frame

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Light fixture

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Resurface/replace kitchen cabinets

Exterior Renovations

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Landscaping needs work and siding on building needs repaired

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Property does not currently have functioning amenities

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We will do a club house renovation and add a dog park

Upgraded Exterior

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Landscaping

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Clubhouse renovation

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Dog Park

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Siding repairs

Augusta, SC Key Features

Augusta sits in an area that has become highly desirable because of its proximity to jobs, shopping, and dining. With the area having a median household income of $100,25/yr and a median monthly rent of $761, this highly-ranked metro is in a great position to have many residents with very low default rates compared to other areas.

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Second-largest metropolitan population in the state of Georgia

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Mid-Market of the Year – Southern Business & Development magazine

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Top Ten Places in the South with Plenty of Talented Labor – Southern Business & Development magazine

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Best Cities to Retire – WalletHub 2016

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Best 100 Places to Live – U.S. News and World Report, 2016

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One of 12 Great Places to Retire – Kiplinger 2016

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Top Ten Places in the South with Plenty of Talented Labor – Southern Business & Development magazine

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 the Investor Presentation

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

This Deal is Closed


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