Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Lofts @ 1521, located in the historic Baltimore City Neighborhood of Bolton Hill. The Property is well suited for a value-add business plan, while preserving the Property’s historic features. The Lofts @ 1521 contains 5 residential units and parking in the rear of the Property.
Investors are afforded a compelling opportunity to acquire an apartment building where further value can be created through the cosmetic renovation of existing kitchens and bathrooms, adding modern tasteful finishes, and achieving an attractive ROI. Income can also be bolstered through streamlining management expenses and increasing operational efficiency.
The Property is in close proximity to Baltimore’s Penn Station which is set to undergo a $90 Million Renovation later this year. The Master Plan will include up to 1.6 Million Square Feet of hotel, office, retail and residential space. Residents are able to commute door to door from their residence to Downtown Washington D.C. in less than 70 minutes.
The property is ideally located within the Shorecrest neighborhood of Miami which provides easy access to Biscayne Blvd, the Mimo District and Miami Beach. The property was fully renovated in 2007 and has been kept in pristine condition ever since. The units offer outstanding finishes and are available at significantly below replacement cost. The Boutique is ideally located one block from the Intracoastal and offers an investor significant rental upside potential. With recent new leases signed at $1,350 for studios, there is over $90k in income upside.
A new owner has the opportunity to increase revenue through upgrading unit interiors with anticipated rent premiums of $165-$180.
VIBRANT Elkhart MARKET
Elkhart has experienced limited apartment development in the past 3 decades, with vacancy holding all-time lows, most communities have wait lists and rents showing consistent growth over time.
SEAMLESS EMPLOYER CONNECTIVITY
Centrally located to Elkhart / St. Joe County’s largest job centers, Woodwind and Hunters Pond provide sought-after convenience to employers in Elkhart’s main business corridor as well as a short commute to Mishawaka / South Bend.
LOW DENSITY SINGLE-FAMILY HOME FEEL
Hunters Pond offers residents a single-family neighborhood vibe. All units have in-direct access garage parking, water views and a beautiful mature wooded setting.
DESIRABLE UNIT FEATURES & AMENITIES
All units include washer and dryer machines and black appliances at both properties. Residents enjoy access to an on-site commercial gym at Woodwind, as well as a swimming pool, playground, and clubhouse.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Inspire Coastal Grand, a 194-unit garden-style active adult community located in Myrtle Beach, South Carolina. Opened in April 2021, Inspire Coastal Grand offers quality finishes, lifestyle amenities and an exceptional location with close access to retail, major highways and the the many locations that make Myrtle Beach renowned. The luxurious and impressive amenities include yoga & spin studio, resort-style pool and sundeck, pickle ball court, bocci ball court, and recurring lifestyle events for residents to enjoy. The top tier finish quality, amenities and location of Inspire Coastal Grand make it a premier asset at the forefront of the active adult market.
Located in Hamilton County and the City of Westfield, the Cottages at Sanders Glen residents benefit from one of the best locations in the state. Westfield is home to a host exciting new developments and boasts the highest population growth in the state with 7.7% in 2021 and 65.5% since 2010.
Walkable Suburban AssetCottages at Sanders Glen is walkable to Downtown Westfield and the new Grand Junctions Plaza as well as resturants, breweries, shoping and the YMCA.
Single Family Feel
Private driveways, attached garages and individual entrances give the property a single family residential feeling.
Stunning High-End Finishes
Cottages at Sanders Glen is a brand new asset with luxurious high-end design and architecture. Beautiful features include vaulted ceilings, bright and airy open floorplans, breakfast bar seating and ample granite countertop space.
UPCOMING RELEASE FROM INCOME RESTRICTIONS
In August of 2022, Pleasant Springs will be released from the Low Income Housing Tax Credit program which restricts the income level of 100% of the units. The new owner can immediately increase rents for new residents (without restrictions) and can also raise rents for existing income restricted residents at lease renewal between $94 to $527 (on average, varying by floor plan).
ADJACENT TO TRENDY NEIGHBORHOODS
The Fountain Square and Bates-Hendricks neighborhoods are just north of Pleasant Springs, where modern new-build and rehabbed homes are selling between $400K-800K. Fountain Square is a popular destination for eclectic dining, shopping, arts and entertainment. Bates-Hendricks is an up-and-coming hot spot with unique home and existing/planned businesses. Nearby apartments are renting for significantly higher than Pleasant Springs.
WELL-BUILT PROPERTY SOLD BY ORIGINAL DEVELOPER
Pleasant Springs was well-built and is being offered free and clear by the long-term owner and original developer. The property is well-maintained and offers a diverse unit mix with spacious one-, two-, three- and four-bedroom floor plans.
CLOSE TO DOWNTOWN INDY EMPLOYMENT & AMENITIES
The location of Pleasant Springs allows for quick access to downtown Indy just under two miles away. Downtown offers abundant employment, dining, shopping and entertainment options.
The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present The Citadel Single-Family Portfolio located in Baltimore, MD. The Offering is comprised of 20 single-family rental units primarily in Northeast Baltimore with centralized management operations. The Portfolio is well positioned for a value-add business plan executing a leasing strategy to attract renters receiving housing vouchers and rental subsidies. With average rents of almost $1,300 the opportunity exists to increase rents as much as $200-$300 with minimal capital expenditure, while actively leasing to residents receiving rental vouchers. Single-Family Rentals offer high yields and strong occupancy rates. High-Performance Metrics for Single-Family Rentals include a 99% occupancy rate, 8.5% annualized vacant-to-occupied (V2O), an increase of 5x the 2020 Rate. Baltimore City Housing Voucher Rents consistently outperform comparable market rate levels.
The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Linkwood Apartments located within Baltimore’s Tuscany-Canterbury neighborhood. The Property is well-placed, equidistant from Johns Hopkins University and Loyola University Maryland, while also adjacent to Roland Park and Guilford, Baltimore City’s two preeminent residential enclaves.
The Linkwood Apartments offer investors the compelling opportunity to acquire a light value-add garden-style apartment community that feature two-bedroom units, and communal amenities such as on-site parking and laundry. Further value can be created through the cosmetic renovation of existing kitchens and bathrooms. The opportunity exists to continue operating the community as conventional multifamily housing or converting the property to student housing. Additionally, all utilities are paid by the Property except for individual electric and select RUBS Billing. Effectuating the Rubs Program consistently throughout the community, as well as billing regularly for parking can bolster existing Net Operating Income.
The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 201-unit Carriage House Townhomes community located in Ocala, Florida.
Cushman & Wakefield, as exclusive advisor, is pleased to present Lake Forest Apartment Homes, a 384-unit value-add multifamily community in Daytona Beach, Florida.