62 Units in Johnson City Tennessee undergoing a complete renovation. We bought this property at a great price, but in tremendous need of repairs and updating. We are using a bridge loan with plans to refinance into long term agency debt by early 2020.
A great B class portfolio in a nice residential neighborhood. Purchased in February 2019 with $100-$150 upside in rents.
41 units in Chattanooga. This property was $100 under market rent when we took possession in February 2019. Fully renovated units are meeting our pro forma projections and legacy units are releasing to market rents without significant upgrades.
Purchased in March 2020, we have realized $100-$150 rent increases with a modest rehab strategy. With it proximity to the Easter Tennesee State University and the health care district, we are confident that the location will be desirable for years to come.
Purchased in March 2021 this B class property is poised for growth with only light rehab and management efficiencies needed to achive $100 rent increases.