River City Place Apartment

Location: Jacksonville, FL
Units: 120
Acquired: March 2022
Projected Hold Period: 5 years
Role: General Partner
Average Cash on Cash Return: 10%
Total Return: 100%

Description

River City Place apartment in Jacksonville, FL is a 120 unit apartment built in 1975. Jacksonville is a desirable market. It is the #3 fastest growing U.S rental market with 12-month asking rent growth of 20.5% (Costar Sept. 2021). The business plan is to renovate 80% of the units over 18 – 24 months. The team will deploy operational efficiencies by sharing staff with other properties owned in Jacksonville. Projected cash-on-cash return is 10%, IRR of 16%+ and 2X equity multiple in 5 years. This property closed in May 2022.

Disclaimer
All investments involve risk and may result in loss. Content on this site should be used for informational purposes and is not considered an offer to sell or solicitation of an offer to buy an interest in any investment. Any such offer or solicitation will be made only by means of the Confidential Private Placement Memorandum (PPM) relating to the specific investment. Access to information about the investments are limited to investors who either qualify as accredited investors within the meaning of the Securities Act of 1933, as amended or those investors who generally are sophisticated in financial matters, such that they can evaluate the risks and merits of prospective investments. Any historical returns, expected returns or profitability projections may not reflect actual future performance.

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Description