- Market rents well below competitive subset | Upside of $320+/unit/month
- Significant fee / other income & operational upside
- Well-positioned asset primed for value-add implementation | 100% classic unit types
- Rare opportunity for development and enhanced amenities
- Exceptional basis compared to recent sales
- Ideally situated in exploding Northwest Arkansas and strong surrounding demographic profile
Market rents well below competitive subset | Upside of $320+/unit/month
Azalea Trail provides the incredible opportunity to upgrade 100% of the unit interiors and receive rent upside of $320+ per unit per month with interior renovations to the units. With the addition of upgraded wood-look flooring, solid surface countertops, stainless steel appliances, updated lighting package, updated bathrooms, and in-unit laundry, the new buyer can push annual rental income over $480,000!!
Significant fee / other income and operational upside
RUBS/billback is commonplace in the Northwest Arkansas Market and in place at all comparable properties. Azalea Trail will benefit significantly from professional management taking advantage of operational efficiencies. In addition, there is an opportunity to implement a marketing program and increase online presence. With a conservative $25/unit/month assumption, Utility Reimbursement Revenue can be increased by $36,000+ annually.
Well-positioned asset primed for value-add implementation | 100% Classic Unit types
The interior finishes at Azalea Trail consist of vintage interior finishes and are primed for value-add modernizations and upgrades to bring the property up to current high-end standards that will increase average rents significantly.