PASSIVE INVESTMENT OPPORTUNITY WEBINAR
THE LYON, DES MOINES, IA
Accredited Investors
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6%
Preferred Return
5-6%
Cash on Cash
14-15%
IRR
2.25x
Equity Multiple
THE LYON
HEDGE AGAINST INFLATION WITH
LONG TERM CASH FLOW IN CLASS A LOCATION
NUMBER 1
JOB MARKET
PREMIUM
DOWNTOWN LOCATION
127 UNITS
11 STORIES
The Lyon is a 127 unit 11 story multifamily project located in a premium downtown location.
With lower risk fixed rate leverage (67% LTV) this project is perfect for investors looking for more security and a conservative investment, yet desire strong upside.
With the addition of 3 new units, upgraded amenities and improved management, we expect an average $138/unit increase in rents and with further upside potential.
Completely renovated units to A Class standards, a skyline terrace, complimentary coffee bar, fitness studio, bicycle storage and on-site parking availability make it appealing to long-term renters.
Located in the desirable Des Moines market which is the #1 Hottest Cities for Jobs.
A+ Location in the rapidly growing East Village neighborhood of Des Moines – the building overlooks the downtown skyline over the Des Moines River with an incredible view of the golden dome of the State Capital.
Deal Info
- Purchase Price: $18,250,000
- CapEx: $1,500,500
- Current Occupancy: 96%
- Units: 127
- Commercial Space: + 6,390sf of commercial/retail space (2,250 sf of which will be converted to 3 apartments)
- Current Average Rents: $1.69/sf
- Projected Average Rents: $1.92/sf
- Targeted Hold Period: 7 Years
Business Plan
Lyon is a beautiful property, in a stellar location. All units have been upgraded to Class A finishes in 2016, with 24 additional units built in 2018. Therefore, the focus will be on improving operations by adding onsight management, improving the resident amenities, and adding 3 units by converting existing retail.
Upgrades & Upside Includes
- Modern paint on exterior, including modern painted murals.
- Upgrade entryway interior & exterior
- Adding 2nd Floor Hot tub & city overlook hangout area for residents.
- Add 3 Units by converting 2,250 sf of vacant retail into three 700sft 2bd/1ba apartments
- Upgrade Gym & Fitness Area Amenities
- Plus opportunity to add up to 7 new units (excluded from proforma)
Planned renovations are expected to increase in-place rents by a blended average of $138, or 13.5% higher than current in-place rents.
A Great Place to Live
High Growth
45% Population Growth Since 2000
Excellent Market Fundamentals
97% 3-Year Projected Average Occupancy
Access to Top Employer
Renowned DSM Insurance, Finance, and Healthcare Employers
1:1 Absorption
118% 3-year Projected Absorption
Limited Future Supply
1 Project Under Construction in a 5-mile Radius
Desirable Market
#13 Best Place to Live
THE LYON
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Don’t wait too long, this sponsor’s previous deals were
oversubscribed within days after the webinar launched!
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This deal is open to Non Accredited Investors for a Limited Time Only before the deal opens to the public.