Non Accredited Investors
These deals are rare to find. If you’re looking to break into Real Estate, this is an excellent opportunity
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Cash on Cash
THE RETREAT APARTMENTS
Significant Value Add
This fantastic, value-add opportunity consists of 197 units.
Built in 1963, this property was purchased off-market, and has been owned and self-managed by the same group since the early 1990s.
The property offers a significant value-add opportunity, as 100% of the units have classic interior finishes, which we will renovate to our platinum interior program
It is nestled in between major freeway systems like the Loop 202, Loop 101 and the US-60, which allows tenants to reach major employment hubs within minutes
- Current Occupancy: 90.9%
- Units: 197
- Purchase Price: $45,000,000
- CapEx: $4,125,000
- Current Rents $1,031
- Projected Rents: $1409
- Targeted Hold Period: 2-5 Years
The Retreat was acquired by the current ownership group in 1990 and has been self-managed since acquisition. The property has not had any major renovations over the past 30 years. The current ownership group installed a property manager, has not pushed rents to market, and has neglected collections over the past several years. The entire property is comprised of classic units.
We plan to execute the following:
- We will renovate the units to our platinum interior program with new vinyl plank flooring, quartz countertops, stainless steel appliances, brand new cabinets, and other interior features.
- In addition, we will completely rebrand the asset to “Rise at The Retreat” with new exterior paint, a new monument sign, a renovated leasing office and clubhouse, and a newly renovated pool area.
- Overall, we expect to increase rents by approximately $378 per unit after we execute our business plan.
Leading the Nation in Growth
Phoenix leads the nation with strong population growth, job growth, and personal income growth.
In the Downtown Tempe submarket, Costar anticipates rents to increase by 33% from 2021 through 2025 while vacancy is expected to increase by a modest 1.0% from 3.4% in 2021 to 4.4% in 2025.
Fasting Growing City 5 Years in a row
The US Census Bureau’s 2020 estimates show that Phoenix remains the fastest growing US city fifth year in a row
Don’t wait too long, this sponsor’s previous deals were
oversubscribed just days after the live webinar!
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This Deal is available to both Accredited and Non Accredited Investors.