Garden-Style Apartment Complex Case Study

Highlights in the Case Study

lifoEighteen building, 144-unit, garden-style apartment complex

lifoAcquired for $6,700,000

lifoPlaced-in-service in 2018

lifo113,000 square feet and sits on a 6.75-acre site

Increased Cash Flow in 1st year- $920,000 lifo

The subject property is an eighteen building, 144 unit, garden-style apartment complex that was acquired for $6,700,000 and placed-in-service in 2018. It totals 113,000 square feet and sits on a 6.75-acre site.

As with many garden-style apartment complexes, the site is improved with ample parking but simple landscaping. The entire property is fenced in with motorized gate access. Somewhat unusual for garden apartments, the property does not have a swimming pool.

The buildings are two-story, wood-frame structures, with brick facades and asphalt shingle roofs. Interior finishes such as carpeting, vinyl flooring and cabinetry are of average quality as are the kitchen appliances.