Proven Value-Add with Significant Upside Remaining of $214/Unit+
The Astoria has realized a substantial return on investment through multiple renovation levels and amenity modernizations. Given the success of the current business plan, new ownership will benefit from the opportunity to take all units to a higher level of renovation level and drive truly outsized returns. Strategic upgrades to the interiors such as granite countertops, vinyl plank floors, stainless steel appliances, and light fixtures will allow a new buyer to push increase top line revenue by over $840k in year one alone!

Huge Upside Opportunity with Over 90% Classic Units
The Astoria provides the incredible opportunity to upgrade over 90% of the unit interiors and receive rent upside of $214+ per unit per month with interior renovations, which have already proven both at the property, and in the overall market!

High-Growth Market with Record-Setting Fundamentals
In the last four years, the market has experienced significant rent growth of over 30%, which has undoubtedly been fueled by limited new supply and historically low vacancy rates! The Astoria has had tremendous organic rent growth on classic units over the last few years with 15-20% rent growth on lease trade outs. Further, the market is off to an incredibly strong start in 2022, posting a remarkable year-to-date market rent growth of 13.9%!