Status: Currently Negotiating with Owner
 
Purchase of 98 and 127 unit, Class A+ Apartments

Features:

§                           Great property! 90% occupied in good rental market

§                           One of the best properties in the area

§                           1, 2 and 3 bedroom units with washers and dryers

§                           Private balconies with scenic views and landscaping

§                           Pool and club house with meeting space

§                           Tenant Mix: young professionals, single females, empty nesters,
        healthcare workers, young families

§                           Apartments located in path of progress

§                           Great potential for growth and rental increase

Financial Strategy:

§                 High appraisal to support bank financing

§                 Locate 80% LTV financing with low interest rate

§                 26% total out of pocket expense

§                 Expect to receive check/cash back from closing

§                 Strong equity position at closing

Projected Performance:

§                 Positive monthly cash flow after closing

§                 On-sight management that takes care of all services

§                 9.0% cap rate, 13% Cash-On-Cash Return, 1.5% Debt Service Coverage Ratio

§                 Growth rate of 3-5% per year, approximately 20% annualized return