- Proven Value-Add Rent Premiums ($267+ Per Month) with Interior Modernization
- Demonstrated Rent Upside in the Submarket
- Exceptional Going-In Basis (Well-Below Replacement Cost)
- Fantastic Workforce Location—Surrounded by Area’s Largest Employers
- Large Units for the Submarket – Including 24 Townhomes
Proven Value-Add Rent Premiums ($267+ Per Month) with Interior Modernization
Maryland Manor presents an outstanding opportunity to achieve rent upside of $267+ per month per apartment home with interior upgrades.
By installing washer/dryer connections along with cosmetic upgrades to the kitchen cabinets, wood-look flooring, marble printed Formica countertops, new black appliances, an updated lighting package, and upgraded bathrooms, new ownership can push annual rental income by more than $130,000!
Demonstrated Rent Upside in the Submarket
With upgraded comparable properties nearby achieving average rental rates of nearly $267/mo. above in-place rents at Maryland Manor, there is great potential for new ownership to increase rents through strategic unit interior renovations.
Located only 2.4 miles from Maryland Manor is Metro Apartments at Granite City. Metro Apartments at Granite City has successfully executed property and unit upgrades, further demonstrating the viability of rent upside. By completing unit upgrades with similar finishes, enhancing the exterior, and further bolstering the amenity package, Maryland Manor will be able to achieve rents alongside the rents of Metro Apartments at Granite City.
Exceptional Going-In Basis (Well-Below Replacement Cost)
Maryland Manor is offered at a highly attractive going-in basis relative to current replacement cost and recent trades across the market. The opportunity to upgrade existing classic units will provide a clear path to outsized returns for future ownership.
