1,068 units for sale

Southeast

Lots of UPSIDE

Only $11,850 per unit

Apartment Complex

Contract assignment $11,850 per unit ($12,655,800 price)

Must Close on April 7, 2014

All 3 rd party reports completed, survey environmental, etc.

MAI Appraisal completed Jan 2014 as is value of $18,900 per unit, stabilized value $26,950 per unit

The Asset Last traded $32,000,000 ($29k per door).

-Current CBRE appraisal gives the asset an “as is” value of $18,843,000.

-Stabilized assets of the same vintage in the immediate area currently trading in the mid to high $20’s per door.

-Sits on 90 Acres of high Density Multifamily Zoned land (zoned for 1620 units)

-asking price represents;

-140,620k per acre (zoned 18 units per acre)

-$3.22 per foot

-7,812 dollars per door (zoned for 1620 units)

Property Sits in a TOD (Trans Oriented Development district) and qualifies for TOD incentives.

Property qualifies for basically every Tax credit requirement relating to area AMI (area medium income)