- $325,260 Of Additional Income Via Continued Unit Interior Modernizations
- Proven Value-Add With Significant Upside Remaining Of $143/Unit
- Substantial Capital Investment Of $711,664 In Last 5 Years
- Excellent Visibility And Highway 169 Frontage
- Well-Maintained With Historically Strong Operations
- Offered Free & Clear Of Existing Debt
$325,260 OF ADDITIONAL INCOME VIA CONTINUED UNIT INTERIOR MODERNIZATIONS
New ownership has the remarkable opportunity to realize significant rent premiums through a value-add renovation program with rent increases of $143 per unit. The property has been previously renovated and is primed for additional value-add implementation through higher-end upgraded finish packages.
PROVEN VALUE-ADD WITH SIGNIFICANT UPSIDE REMAINING OF $143/UNIT
Through various iterations of unit and amenity modernizations, NoRi and Regency North have realized a substantial return on investment. Given the success of the current business plan, new ownership will benefit from the opportunity to continue to capture significant rent upside and drive outsized returns. Based on the value-add strategy already proven at the asset level, new ownership has the ability to capture roughly $143 per unit in upside with completion of higher-end finishes throughout initial lease-up!
