- A WELL-MAINTAINED ASSET PRIMED FOR VALUE-ADD IMPLEMENTATION
- UPGRADE PREMIUMS OF $75/UNIT WITH STRATEGIC INTERIOR ENHANCEMENTS
- $65,280+ IN YEAR-ONE RENT GROWTH BY UPGRADING ORIGINAL 56 UNITS
- BEST-IN-CLASS ASSET WITH ADDITIONAL ORGANIC RENT GROWTH UPSIDE
- OFFERED FREE AND CLEAR OF ANY EXISTING DEBT
UPGRADE PREMIUMS OF $75/UNIT WITH STRATEGIC INTERIOR ENHANCEMENTS
Prairie Place offers more than 75% vintage unit interiors that are prime for upgrades/modernization. With strategic renovations to the interior finish package, significant premiums of $75 can be achieved. Cosmetic upgrades to the kitchen cabinets, adding wood-look plank flooring, updated countertops, stainless steel appliances, an updated lighting package as well as upgraded bathrooms will allow a new buyer to push annual rental income by more than $65,000.
A WELL-MAINTAINED ASSET PRIMED FOR VALUE-ADD IMPLEMENTATION
Prairie Place is a unique value-add opportunity with 17 of the 73 units being built in 2017 with updated finishes and higher rents. While the original 56-unit interiors remain mostly classic from a finish perspective, those original units have been well-maintained and improved by current ownership during turnover. The high-quality physical asset will allow for new ownership to focus on driving top-end rental growth with unit interior upgrades of the original 56 units.
OFFERED FREE AND CLEAR OF ANY EXISTING DEBT
Prairie Place is being offered free and clear of existing debt providing the opportunity for a new investor to take advantage of the highly competitive financing markets, low-interest rates, long-term debt with interest-only options with maximum leverage, supporting exceptional returns on investment.
