PASSIVE INVESTMENT OPPORTUNITY WEBINAR
AUBURN SUMMIT PORTFOLIO
TREMENDOUS OPPORTUNITY TO OWN REAL ESTATE
IN AUBURN, AL
Accredited Investors
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7%
Preferred Return
6-8%
Cash on Cash
16-18%
IRR
2.01x
Equity Multiple
AUBURN SUMMIT PORTFOLIO
187 UNITS
BELOW MARKET VALUE
100% OCCUPANCY
This fantastic, value-add opportunity consists of 187-unit, 3-property package, primed for capital improvements.
Units are currently priced on average $172 below market, which with current demand and 100% occupancy we conservatively project strong upside.
Locally managed, well-maintained assets with the opportunity for amenity and interior upgrades.
The portfolio is nestled in close proximity to Auburn University
which has a total enrollment of 31,000+, near multiple major employment hubs.
Located in a consistently growing tertiary market which has
strong job and population growth.
It’s located in the 19th fastest growing metro area in the United States
Deal Info
- Current Occupancy: 100%
- Units: 187
- Purchase Price: $19,000,000
- CapEx: $2,800,000
- Current Average Rents: $793
- Projected Average Rents: $965
- Targeted Hold Period: 5 Years
Business Plan
The Summit Portfolio is a 187-unit, three property package in the heart of Auburn, Alabama. Each of the Summit properties are located within minutes of the historic downtown and Auburn University.
The Summit Portfolio presents as a low B-Class Property package that has the ability to lift rents with proper Capital Improvements and upgrades, driving it up in Class.
We plan to Invest over $2.8MM in capital improvements such as: new monument signs, exterior paint, shutters, upgraded lighting, appliances, and new LVP flooring.
This will allow us to be competitive in the booming Auburn market and sustain positive NOI growth year-over-year and meet the ever-growing needs in the community for quality multifamily housing.
The Auburn Summit arrives to market 100% occupied and has received moderate capital infusion in recent years with a combined $300,000+ injected into both exteriors and interiors across the portfolio.
This strategic investment has virtually no vacancy, which indicates strong upside increase rents through updating interiors across all remaining classic units, as nearby comparable properties are receiving premiums in excess of $145-$227 for rehabbed interiors.
A Great Place to Live
Booming Population & Job Growth
Auburn has the #1 fastest growing city in Alabama with over a
3% population growth annually. It’s also the 19th fastest growthing metro area in the United states since 1990.
Strong diverse base of employers, with over $400 million of new corporate investment expensation and over $200 million in defence contracts as of 2022.
Top Ranked Schools
Auburn City Schools is the fastest growing school district
in Alabama over the last five years
Recognized among the nation’s top public school systems each year due to a progressive use of technology and continued support from the City and the community.
They are also ranked in the nations top 100 school systems by Parenting Magazine.
Great Place to Live
Ranked 66 in top places to live by Money.com with projected job growth of 5.9%.
Median family income of $120,712
Median home sale price – $305,162
Highly educated – over 66% Bachelor degree or higher.
AUBURN SUMMIT PORTFOLIO
“[I have] known Steven for about four years now, and have invested in several deals with VonFinch, which have worked out fantastic.
I've always found Steven to be a super hardworking, conscientious, diligent, takes care of any particular issues that come up on the projects.
I plan on investing in future deals with Steven and VonFinch and would recommend the same to other investors as well.”
Mike Foley
.... "I’m a full-time investor. I flipped over 1,000 houses. I have $20 million lent out to flippers in different markets around the country. We see a lot of different investors in different ways. I have to tell you that VonFinch is at the top of the list, with regard to quality and ethics and doing what they say.
Thank you very much, Steven and VonFinch. Appreciate everything you guys do. Glad to work with you guys again in the future. Thanks a lot.”
Matt Owens
“I invested in Steven Pesavento’s company. It was a positive experience, and he was very thorough in communication on the front end and all throughout the process, all the way until the exit.
We’re actually talking again on how I can invest in the projects that he’s got going on in his company. So appreciate you, Steven, everything you’re doing, look forward to working with you again soon.”
Chris Bounds
Don’t wait too long, this sponsor’s previous deals were
oversubscribed within days after the webinar launched!
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