Ridgecrest & Raintree Portfolio

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Created date: December 11, 2023
Date last updated: December 11, 2023

Ridgecrest is a 48 unit complex in Breckenridge, TX that has 24 one bedroom units and 24 two bedroom units. The electric is separately metered and tenants pay. Owner currently pays for water/sewer/and trash. This is a value add opportunity, property currently has low occupancy, and the water bill could be allocated back to the tenants to improve NOI. The projected returns on the proforma cash flows are based on investing $3,000/unit for 19 of the units to get them made ready and upgraded to similar properties.

 

Raintree is a 32 unit apartment complex plus 24 self storage units. The unit mix includes 4 one bedroom units, 23 two bedroom units, 5 three bedroom units, and 24 mini storage units. The electric is separately metered and tenants pay. Owner currently pays for water/sewer/and trash. This is a value add opportunity, property currently has low occupancy, and the water bill could be allocated back to the tenants to improve NOI. The projected returns on the proforma cash flows are based on investing $3,000/unit for 28 of the units to get them made ready and upgraded to similar properties.

Key Property Information

Listing Status: Available
Multifamily type: Apartments
No. of Units: 80
Opportunity Zone: No
Property Website Click Here

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