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Sundance – Sacramento, CA
- 40 unit, 32,790 sf building situated across 3 two-story low-rise apartment buildings on a 1.38 acre lot
- Located in the Arden/Arcade submarket, Sundance Apartments is located just one block from Watt Avenue, a major arterial thoroughfare that leads through eastern Sacramento, connecting residents to a strong mix of daily grocery, shopping, dining, and entertainment conveniences. The Downtown Sacramento employment hub and the California State University, Sacramento campus are both within a 20-minute commute. The area also offers numerous recreational options, including Del Paso Country Club, Del Paso Regional Park, and Haggin Oaks Golf Complex
- The Property is within close proximity to many major retailers such as Walmart, Raleys, Costco Business, Trader Joe’s, Sprouts Farmers Market, Safeway, and Whole Foods
- Major employers in the area include the State of California, Kaiser Permanente, UC Davis Health System, Sacramento County, Sutter Health, U.S. Government, Dignity Health, Intel Corporation, Elk Grove Unified School District, and San Juan Unified School District
- The property features 33 renovated units and the building exterior, landscaping, painting, signage, balconies, and HVAC have all been renovated or upgraded
- Capitalized with low leverage, fixed rate debt
- Hold period is expected to be 3-5 years
Villas at Lake Arlington - Arlington, TX
- 64 unit, 57,495 sf building situated across 16 single-story garden style apartment buildings on a 3.88 acre lot
- Located in Arlington, TX, a submarket nestled between Dallas to the east and Fort Worth to the west. The Property is within a 5 minute drive of Lake Arlington, a 2,000-acre lake that is one of the most popular water attractions in DFW. With a low crime rate and a highly rated K-12 school district, families move to south Arlington to be in the school district, close to employers, and near national retailers
- The Property is within close proximity to many major retailers such as Kroger, Walmart, Sprouts Farmers Market, CVS Pharmacy, Albertsons, Office Depot, Starbucks, Bank of America, and Chase. Major employers within the submarket include General Motors, The Parks Mall in Arlington, Lockheed Martin, Bell Helicopter, AT&T Stadium, Globe Life Park and Texas Live!
- Property’s previous ownership over improved interior units, building exterior, and landscaping. The majority of the units have been upgraded with in unit washer and dryers, new appliances, recessed lighting, wooden floors, quartz counter tops, new cabinets and more
- Capitalized with low leverage, interest only, fixed rate debt
- Hold period is expected to be 5-10 years
Abbott Place - Highland Park
- 18 unit, 8,356 sf bungalow style building situated on 18,730 sf (0.43 acres) located in Highland Park, a neighborhood nestled between Silver Lake to the west, Eagle Rock to the north and downtown LA to the south
- Known for its popular bars, restaurants, entertainment venues, and nearby parks, Highland Park is a strong draw for millennial tenants
- Located walking distance from the Highland Park Metro Station and essential services on Figueroa Ave, the property also has access to the 110, 134, and 5 freeways linking Highland Park to nearby employment centers such as Downtown Los Angeles, Glendale, Hollywood and Burbank
- Property’s previous ownership over improved interior units, building exterior, and landscaping
- 13 of the 18 units have been substantially upgraded with new appliances, recessed lighting, hardwood floors, quartz counter tops, new cabinets and more
- Leases are 26% below market providing imbedded upside
- Hold period is expected to be 5-10 years
Avenue 55 - Highland Park
- 30 unit, 24,864 sf two-story building situated on 24,507 sf (0.56 acres) located in Highland Park, a neighborhood nestled between Silver Lake to the west, Eagle Rock to the north and downtown LA to the south
- Known for its popular bars, restaurants, entertainment venues, and nearby parks, Highland Park is a strong draw for millennial tenants
- Located walking distance from the Highland Park Metro Station and essential services on Figueroa Ave, the property also has access to the 110, 134, and 5 freeways linking Highland Park to nearby employment centers such as Downtown Los Angeles, Glendale, Hollywood and Burbank
- Property’s previous ownership over improved interior units, building exterior, and landscaping
- 26 of the 30 units have been upgraded with in unit washer and dryers (23 of 26), new appliances, recessed lighting, wooden floors, quartz counter tops, new cabinets and more
- 4 units are leased substantially below market providing imbedded upside
- Capitalized with low leverage, interest only, fixed rate debt
- Hold period is expected to be 5-10 years
Vista - West Hollywood
- 10 unit, two-story building located in West Hollywood, CA
- Known for its popular bars, restaurants, entertainment venues, and nearby parks, West Hollywood is a strong draw for millennial tenants
- Given its central location, the property also has access to the 110, 10, and 5 freeways linking West Hollywood to nearby employment centers such as Downtown Los Angeles, Glendale, Hollywood and Burbank
- Property’s previous ownership over improved interior units, building exterior, and landscaping
- 8 of the 10 units have been upgraded with high end finishes including in unit washer and dryers, new appliances, recessed lighting, wooden floors, quartz counter tops, new cabinets and more
- 2 units are leased substantially below market and 2 additional ADUs could be added, providing imbedded upside
- Capitalized with low leverage, interest only, fixed rate debt
- Hold period is expected to be 5-10+ years
Griffith - Silver Lake
- 10 unit, two-story building built in 1954 with 7 parking spaces located in Silver Lake, CA
- Located near Trader Joe’s, Bristol Farms, Silver Lake Farmer’s market, Starbucks and Sunset Junction
- Substantially all units have been upgraded with new appliances, recessed lighting, quartz counter tops, new cabinets and leased at higher rents
- While maintaining high occupancy, rents have increased steadily
- Capitalized with low leverage, fixed rate debt
- Hold period is expected to be 5-10 years
Ellsworth - Silver Lake
- 6 unit, single story cottage style building with 4 parking spaces built in 1924 located in Silver Lake
- Property’s previous ownership over improved interior units, building exterior, and landscaping
- Located near Trader Joe’s, Bristol Farms, Whole Foods, Starbucks and Sunset Junction all units have been upgraded with in unit washer and dryers, new appliances, recessed lighting, wooden floors, quartz counter tops, new cabinets
- Property has had no vacancy since acquisition
- 1 3/2 unit is leased substantially below market providing imbedded upside
- Capitalized with low leverage, fixed rate debt
- Hold period is expected to be 5-10 years
Burns - Silver Lake
- 10 unit, single story cottage style building built in 1924 located in Virgil Village
- Property’s previous ownership installed tankless hot water heaters, split unit A/C, and in unit washer dryers
- Located near Trader Joe’s, Bristol Farms, Starbucks and Sunset Junction
- All units have been upgraded new appliances, recessed lighting, wooden floors, quartz counter tops, new cabinets
- Property has had little downtime since acquisition
- Capitalized with low leverage, fixed rate debt
- Hold period is expected to be 5-10 years
Sunset - Echo Park
- 6 unit, multi story building with 7 parking spaces built in 1974 located in Echo Park
- Located near Dodger Stadium, Vons, and Elysian Park
- Property has one ground floor office unit that will be converted to a residential unit under the ADU order
- 2 units are leased substantially below market providing imbedded upside
- Capitalized with low leverage, fixed rate debt
- Hold period is expected to be 5-10 years
Atwater - Atwater Village
- 6 unit, two-story property with 7 parking spaces built in 1961 located in Atwater Village
- Property’s previous ownership over improved interior units and building systems
- Located near Trader Joe’s, Bristol Farms, Whole Foods, Starbucks and Griffith Park
- All units have been upgraded except one with new appliances, recessed lighting, quartz counter tops, new cabinets
- Property has had little downtime and leased at higher rents at turnover
- 2 units are leased substantially below market providing imbedded upside
- Capitalized with low leverage, fixed rate debt
- Hold period is expected to be 5-10 years
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