PORTFOLIO
80 Maple Apartments
Cleveland, Ohio
The Numbers
| Purchase Price: | $3,745,000 |
| Capital Improvements: | $350,000 |
| NOI: | $380,000 |
| Cap Rate: | 9% |
| Stabilized Value: | $6,100,000 |
| Equity: | $1,500,000 |
| Refinance Proceeds: | $150,000 |
| Cash Flow: | $110,589 |
80-unit Apartment Complex, acquired in September 2020
Heights Apartments
Cleveland Hts., Shaker Hts.
The Numbers
| Purchase Price: | $9,200,000 |
| Capital Improvements: | $410,000 |
| NOI: | $924,000 |
| Cap Rate: | 6.5% |
| Stabilized Value: | $14,250,000 |
| Equity: | $4,220,000 |
| Refinance Proceeds: | $800,000 |
| Cash Flow: | $217,400 |
164-unit Apartment Complex, acquired in August 2019
Westwind Apartments
Albany, Georgia
The Numbers
| Purchase Price: | $5,350,000 |
| Capital Improvements: | $1,500,000 |
| NOI: | $804,694 |
| Cap Rate: | 11.3% |
| Stabilized Value: | $11,500,000 |
| Equity: | $4,375,000 |
| Refinance Proceeds: | $1,500,000 |
| Cash Flow: | $217,032 |
200-unit Apartment Complex, acquired in April 2019
Crosby Park Apartments
Lawton, Oklahoma
The Numbers
| Purchase Price: | $6,170,000 |
| Capital Improvements: | $1,193,750 |
| NOI: | $737,659 |
| Cap Rate: | 9.8% |
| Stabilized Value: | $10,540,000 |
| Equity: | $2,990,000 |
| Refinance Proceeds: | $360,000 |
| Cash Flow: | $213,507 |
216-unit Apartment Complex, acquired in May 2019
South Mock & Vista Pointe
Albany, Georgia
The Numbers
| Purchase Price: | $20,000,000 |
| Capital Improvements: | $1,253,000 |
| NOI: | $2,283,811 |
| Cap Rate: | 10.5% |
| Stabilized Value: | $32,270,000 |
| Equity: | $13,550,000 |
| Refinance Proceeds: | $2,970,000 |
| Cash Flow: | $647,742 |
492-unit, 2 Apartment Complexes, acquired in August 2019
Ashley Woods & Whispering Woods
Macon, Georgia
The Numbers
| Purchase Price: | $12,750,000 |
| Capital Improvements: | $1,686,000 |
| NOI: | $1,319,089 |
| Cap Rate: | 8.9% |
| Stabilized Value: | $21,110,000 |
| Equity: | $6,270,000 |
| Refinance Proceeds: | $990,000 |
| Cash Flow: | $328,168 |
204-unit Apartment Complex, acquired in November 2019
Georgia Plains
Multiple locations in Georgia
The Numbers
| Purchase Price: | $9,600,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,800,000 |
| Cap Rate: | 11.7% |
| Stabilized Value: | $40,300,000 |
| Equity: | $16,200,000 |
| Proceeds: | $6,100,000 |
| Cash Flow: | $874,000 |
703-units, 5 Apartment Complexes, acquired in June 2018
Northwest Albany Apartments
Albany, Georgia
The Numbers
| Purchase Price: | $14,611,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,221,497 |
| Cap Rate: | 14% |
| Stabilized Value: | $30,640,000 |
| Equity: | $14,740,000 |
| Refinance Proceeds: | $5,548,000 |
| Cash Flow: | $760,000 |
407-units, 3 Apartment Complexes, acquired in December 2018
16 Akers Pars
Akron, Ohio
The Numbers
| Purchase Price: | $9,600,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,800,000 |
| Cap Rate: | 11.7% |
| Stabilized Value: | $40,300,000 |
| Equity: | $16,200,000 |
| Proceeds: | $6,100,000 |
| Cash Flow: | $874,000 |
703-units, 5 Apartment Complexes, acquired in June 2018
Clifton Lake Apartments
Albany, Georgia
The Numbers
| Purchase Price: | $14,611,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,221,497 |
| Cap Rate: | 14% |
| Stabilized Value: | $30,640,000 |
| Equity: | $14,740,000 |
| Refinance Proceeds: | $5,548,000 |
| Cash Flow: | $760,000 |
407-units, 3 Apartment Complexes, acquired in December 2018
Forest Ridge Apartments
Parma, Ohio
The Numbers
| Purchase Price: | $9,600,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,800,000 |
| Cap Rate: | 11.7% |
| Stabilized Value: | $40,300,000 |
| Equity: | $16,200,000 |
| Proceeds: | $6,100,000 |
| Cash Flow: | $874,000 |
703-units, 5 Apartment Complexes, acquired in June 2018
Hillcrest Commons Apartments
Niles, Ohio
The Numbers
| Purchase Price: | $14,611,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,221,497 |
| Cap Rate: | 14% |
| Stabilized Value: | $30,640,000 |
| Equity: | $14,740,000 |
| Refinance Proceeds: | $5,548,000 |
| Cash Flow: | $760,000 |
407-units, 3 Apartment Complexes, acquired in December 2018
Sunnyslope Apartments
Maple Hts., Ohio
The Numbers
| Purchase Price: | $9,600,000 |
| Capital Improvements: | $1,017,500 |
| NOI: | $2,800,000 |
| Cap Rate: | 11.7% |
| Stabilized Value: | $40,300,000 |
| Equity: | $16,200,000 |
| Proceeds: | $6,100,000 |
| Cash Flow: | $874,000 |
703-units, 5 Apartment Complexes, acquired in June 2018