Magnolia Square Apartments
Our 1st property in the Savannah market. A 92 unit complex on 9 acres that has huge upside potential. Our management team is aggressively working on our capital improvement plan and bringing rents to market rates.
All 19 of the vacant units have been renovated to our standards. We have completed the new LED lighting package on the exteriors of the buildings, the new dumpster corrals have been installed, and the landscaping has been cleaned up to enhance the curb appeal of the property.
Charlotte, North Carolina
Purchased in December 2015, A 44 unit garden style apartment complex consists of twenty-eight 2BR/1BA units, and sixteen 1BR/1BA units, with a total rentable square footage of 27,400 sq. ft. We are currently achieving a higher average income per unit then we had projected. Once we are stabilized over the next few months, we should start exceeding initial returns.
Old Village Apartments
48 Unit Apartment Complex
Purchased in June 2015, this 48 unit garden style apartment Complex consists of 6 one bedroom, 34 two bedroom, and 8 three bedroom units with a total rentable square feet of 55,440. The Property is currently under rented and under capitalized. The property is 10 miles east of downtown Columbus with easy access to I-270 and Route 40.The property is currently stabilized with only 2 vacants. All of our Capital Improvement items have been completed. Management has taken the property to levels we expected and will show great numbers for a potential sale.
44 Unit Apartment Complex
Purchased in September 2014, Archwood Portfolio is 2 buildings, each consisting of 22 units. The buildings are across the street from one another in the Brooklyn area of Cleveland. The property is in an excellent location, just 8 minutes from downtown Cleveland and easy access to I-71. While the buildings are currently all 1 bedroom and studio apartments, there is an opportunity to renovate some of the larger one bedroom units into 2 bedroom units to increase monthly cash flow. Over the past 27 months, we have completed a full interior and exterior renovation and became fully occupied by Dec 2015.