Avg Annual Cash Yield
Hold Period (Years)
Upgrade Classic Units
100% of the unit interiors remain in classic condition and will be upgraded to include new vinyl plank flooring, counter tops, black appliances, two-tone paint, upgraded lighting, electrical and door fixtures. The new interior renovations are projected to achieve $125/mo rent premiums on average.
The properties do not currently have suitable fencing and vehicle gating. We will secure both properties with the installation of vehicle security gates and perimeter fencing to increase the safety and security of residents.
Reduce Loss to Lease
We will aggressively reduce loss to lease through renovation and lease-up efforts while maximizing the achievable rent within the submarket.
Curtail Operational Expenses
The Seller has historically operated the properties with above-market operational expenses. We along with our property management company have identified approximately $500/unit in annual expenses that can be eliminated based on their successful operation of comparable communities in Memphis.