- Attractive Interest-Only Fannie Mae Financing at 3.19%
- Dynamic Little Rock Location with Unmatched Connectivity
- Fully Proven Value-Add Business Plan w/ $150+ Rent Premiums
- Strong Operations Offer Above-Market, In-Place Cash Flow
- Significant Recent Capex & Unit Upgrade Capital Spent
- 240 Units Offer Immediate Scale in Little Rock
- Offered at a Very Attractive Basis, Well Below Replacement Cost
Attractive Interest-Only Fannie Mae Financing at 3.19%
The Canopy is being offered with assumable non-recourse Fannie Mae financing in place with extremely favorable terms including a 3.19% interest rate, 30-year amortization, and ~2.5 years of I/O term remaining! This attractive debt, combined with strong in-place operations, will allow new ownership to generate well above market cash flow from day one. With 10 years of term remaining on the loan, there is also an immediate opportunity to place a supplemental loan!
Dynamic Little Rock Location with Unmatched Connectivity
New ownership has the unique opportunity to capitalize on the growing Little Rock MSA and new development in the area. The Canopy has fantastic connectivity to all major highway arteries throughout the Little Rock. With unquestionably convenient proximity to area amenities and the region’s major shopping, dining, and entertainment, the property provides easy access to Little Rock’s major employment and business centers.
Fully Proven Value-Add Business Plan w/ $150+ Rent Premiums
The Canopy offers classic interior finishes across 78% of units, giving new ownership the opportunity to achieve significant rent premiums of over $150 per unit (monthly). Interior cosmetic upgrades have been completed on 22% of units, with 15% at the top “PLUS” finish level and 7% at the “renovated” level. New ownership has a clear path to upgrading the classic & renovated units to the “PLUS” finish level to push annual rental income by over $250,000!
