- Strong Historical Occupancy & Operations – With a Waitlist (10+ as of Late April)!
- Loss to Lease Recapture Will Add More than $125k Annually!
- Exceptional Basis Given the Excellent Condition of the Asset
- Substantial Upside Potential through Annual AMI Growth
- Convenient Location Proximate to Restaurants, Shopping, and Highway Access
- Offered Free & Clear of Existing Debt
Strong Historical Occupancy and Operations – With a Waitlist (10+ as of Late April)!
Current ownership has carried extremely high occupancy rates and demonstrated a trailing 12 month vacancy of less than 2%! Occupancy should remain strong given the current waitlist of more than 10 prospective tenants.
Loss to Lease Recapture Will Add More than $125k Annually!
Due to many leases signed prior to the most recent rent increase, Coventry Commons offers a clear opportunity to add over $125,000 (~7%) to top line revenues through capturing the current loss to lease.
Exceptional Basis Given the Excellent Condition of the Asset
The property is offered at a highly attractive going in basis relative to replacement cost and recent trades across the market given the exceptional condition and effective age of the asset resulting from the recent tax credit renovation.