Jacksonville Portfolio II

This is a portfolio of 2 properties: Oasis Club with 242 units, built in 1972 and Silversmith creek 140 units built in 1971. These properties are in Jacksonville, FL. The purchase price was $13,000 less per unit compared to similar properties. The in-place rent is about $300 below the competition. This presents an opportunity to drive up the rent with value-add renovations. The projected cash-on-cash return is 10%, Target IRR is 16% and total return of 100% in 5 years. This Property closed July 2022.