· 65 Unit multifamily property for sale off-market in Tulsa, Oklahoma
· Tulsa is one of the 50 largest cities in the country with an MSA population of more than 1,000,000 and a strong employment base anchored by the aerospace, energy, and healthcare sectors
· 95% of units have been recently renovated to include updated carpet, flooring, cabinet fronts, light fixtures, and resurfaced tubs & countertops
· Current occupancy is at 67% due to ownership getting rid of bad tenants, and the expectation is occupancy will hit 80% by year end
· There is also operational value-add potential through the conversion of utility billing from ABP (All Bills Paid) to RUBS
· Pricing guidance is $78K/unit
· 250 Units for sale off-market in the high-growth Dallas/Fort Worth market
· The asset is originally 1960s vintage and 50% of the units have been fully renovated to include hardwood-style flooring, granite-style countertops, dark wood cabinets and brushes-nickel finishes
· New leases are signing for 15% higher than existing leases
· Pricing Guidance is $136K/unit
· 200 Multi-family units for sale off-market in Shreveport, Louisiana
· The asset is originally 1980s construction, but 75% of the property has been recently renovated
· The property is situated in an ideal location, steps away from many main attractions and schools
· The opportunity is capable of stabilizing at an 8.5% cap in year 3 of the business plan at current pricing guidance
· A new buyer will have to be comfortable with the current low-occupancy levels due to recent large-scale renovations
· 175 Units for sale off-market in the Dallas market
· The market job growth is exceeding the national average by 40%
· MHI in this area is 10% higher than the national average
· Pricing guidance is $134K/Unit – 17% lower than the market average
· 150 units for sale off-market in the Minneapolis market
· The market unemployment rate is 2.3% which is 35% lower than the national average
· The pricing guidance is $83K/unit – which is a day one 7.2% cap rate on seller-provided financials and a day one 6.2% cap rate adjusted for market expenses
· 10 multi-family units for sale in the high-growth county of Horry, South Carolina
· Job growth is exceeding the national average by 30% and there is expected to be a 20% population growth in Horry over the course of the next 5 years
· The property was built in the 2000s and is currently 100% occupied
· The opportunity presents a day one 5.75% cap rate at the pricing guidance
· 70 units for sale off market in New Bern, North Carolina
· This submarket has experienced 26% year over year rent growth for 2-4 star products
· This class B property was recently renovated to include modern features