- Assumable 3.61% Agency Debt | 9 Years Remaining
- Extensive Capital Improvements – Fully Renovated Asset
- Rent Increases of $113/Unit – $97,225 by Moving Rents to Current Max-Achieved Levels
- Dynamic Location with Continued Population Growth & Attractive Demographics
Assumable 3.61% Agency Debt | 9 Years Remaining
Tyndall Pointe is being offered as a loan assumption with an existing Fannie Mae loan, featuring a favorable 3.61% interest rate with 9 years of term remaining! This incredibly valuable component to the deal relieves 100% of the volatility in today’s capital markets atmosphere and allows a purchaser to dial in their acquisition assumptions with full confidence.
Extensive Capital Improvements – Fully Renovated Asset
Over the last handful of years, Tyndall Pointe has gone through a massive renovation to improve both the interiors and exteriors of the entire property. In total, current ownership has spent over $2,100,000 on property upgrades. Exterior upgrades include new roofs, new HVAC/mechanical systems, and new windows. Interior upgrades include the addition of a second full bathroom to the second bedroom in all units, new flooring, fresh paint, and plumbing and electrical upgrades. These improvements allow a new owner to focus on cash flow as opposed to future capital expenditures.
Rent Increases of $113/Unit – $97,225 by Moving Rents to Current Max-Achieved Levels
Tyndall Pointe presents a unique opportunity to increase revenues without spending additional capital! A new owner can simply increase rents upon lease turnover to match rents that are already being achieved at 31 units (over 41% of the property). Max achieved rents have been demonstrated multiple times on each floor plan throughout the property, providing an opportunity to increase annual revenues by ~$100,000. Current average rents are $1,210/month. By increasing rents to current 12-month max achieved rents, annual revenues increase by $97,225. A purchaser gets value-add level upside WITHOUT having to spend time and money completing interior unit renovations!
