PASSIVE INVESTMENT OPPORTUNITY
CANOPY CREEK APARTMENTS
This is a fantastic value-add opportunity in Jacksonville, Florida.
18% Targeted IRR
5 year targeted hold
10% Projected Cash on Hold
Note: This 506(c) syndication is open to ACCREDITED investors only.
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, soft reserved your spot. It will fill up fast, this is a great opportunity. Don’t miss it.
Note: This 506(c) syndication is open to ACCREDITED investors only.
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.
Timeline
0-24 Months
- Put in place new property management
- Complete exterior upgrades and improvements
- As units turn, roll out interior operational upgrades – faucets, LVP, bathroom reno
- Continue pushing rents on renewals to catch up to market rents
18-36 Months
- Continue stable operations
- Begin testing higher upgraded units to see what the market will bear
- We anticipate doing a supplemental loan at end of year three to be able to return 50% of capital back to investors
- Continue cash flowing
Property Details
The Property
- Year Built: 1975
- Buildings: 27 Total | 25 Residential
- Units: 288
Property Amenities
- Gated Entrance
- 24×7 Laundry Rooms
- Resident Lounge
- Clubhouse & Business Center w/ High-Speed Internet
- Outdoor BBQ Station
- 2 Resort-Style Swimming Pools
- Playground Area
- 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
Jacksonsville is growing fast
Jacksonville grew by 2.5% in population in 2017 and about 44% of the population rent the homes they occupy.
The Median Home Value is around $200,000
Florida Is Ranked #4
With the strongest economy in the states.
There’s a lot of jobs and future job growth in Jacksonville.
We Are Multifamily
Investment Professionals
Experienced
With decades of experience and $200MM in closed multifamily transactions, we have the subject matter expertise, key relationships, and proven track record to execute profitable deals.
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.
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.
FIRST COME FIRST SERVE – RESERVE YOUR SPOT NOW
This Offering is only Available to Accredited Investors.