Project Description

This is a 2-property portfolio consisting of 162 units located in the charming town of Savannah, Georgia.

Property:

This property was purchased off market at an advantageous price. The rents were well below market allowing for significant loss to lease recapture. The two assets are just a few miles apart allowing for economies of scale.

 

Strategy:

We’ll be infusing approximately $1m of capital improvements into these properties. We plan to renovate 70 units and make some nice improvements to the exterior as well including siding repairs as well as fencing repairs and painting.

Highlights:

  • Rents have potential to increase from an average of $964 to an average of $1300.
  • Only 20 minutes to historic downtown Savannah, Georgia.
  • Less than 30 miles from the new Hyundai $7.6 Billion EV Meta Plant.
  • Easy access to an abundance of shopping and restaurants.
  • Proximate to plentiful employment opportunities.