Southeast Memphis (Hickory Farm & The Crossings at Fox Meadows)

Units

Purchase Price

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Avg Annual Cash Yield

Hold Period (Years)

Investment Strategy

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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.

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Property Security

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.

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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.

Passive Income Featured Investment

Marketplace Square
(152 Units, Atlanta, GA)


Average Annualized Returns: 17%
Average Annual Cashflow: 10%
Total Projected Return: 109% (6 years)
Capex Improvements: $960,000

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