- Proven Rent Upside Of $129+/Unit With Strategic Interior Renovations
- Offered At An Attractive Basis
- Conveniently Located Proximate To Employers, Retailers & Universities
- Strong Submarket
- Offered Free And Clear Of Existing Debt
- Can Be Purchased with Cimarron Hills
Value-Add Opportunity with Strategic Interior
Ownership has invested over $500,000 in recent capital expenditures into roofs, HVAC systems and strategic unit interior renovations. In total, 117 units (44%+) have been fully renovated. This renovation will allow for minimal deferred maintenance for future ownership. The remaining classic units can be upgraded for a proven monthly rent upside of $125+/unit. If no further improvements are made, new ownership would inherit an asset operating smoothly with fantastic cash flow from day one.
Proven Rent Upside of $129+/Unit with Strategic Interior Renovations
Thomasbrook will enable new ownership to realize significant rent premiums through a proven value-add renovation program. Over 44% of the units have been renovated at Thomasbrook, and classic units are primed for continued value-add implementation. Upgraded finish packages at Thomasbrook have resulted in an increase of more than $129 per unit monthly.
The vacancy rate in the South Lincoln submarket is 2.4% and is below the long-term average. With only 140 units delivered in 2022, low vacancy rates are forecasted. Rents have increased by an impressive 6.4% over the past year. The Lincoln market continues to be a very attractive market with strong apartment fundamentals and economic indicators, including the benefits of The University of Nebraska and high-quality medical facilities.