- $350,000+ in Upside Potential
- Opportunity to Immediately Obtain Critical Mass with 382 Units
- Streamlined Operations/Expense Upside
- Strong Historical Operations
- Stable, Reliable, Project-Based HUD Payments
- $2,000,000+ Invested in Capital Expenditure Over the Last 4 Years
$350,000+ in Rent Upside Potential
Constructed in the 1950’s and 1970’s, the units at Wakonda Village & Manor offer varying levels of finish. This enables new ownership to achieve significant rent upside of $84 per unit (monthly) upon completion of cosmetic upgrades to the 40 partially-renovated units and 71 classic units. The fully renovated units can also be brought to market rate. Cosmetic updates such as upgraded stainless steel appliances and modern fixtures will enable the new owner to push annual rental income by more than $350,000!
Opportunity to Immediately Obtain Critical Mass with 382 Units
New ownership can immediately establish a significant presence in the Des Moines market and achieve economies of scale, which can lead to higher overall NOI and lower operating costs.
Streamlined Operations/Expense Upside
New ownership has the opportunity to focus on streamlining management practices that reduce costs, specifically payroll, management fees, and insurance costs. Improving in these areas offers significant operational upside potential!
