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Residents at Cedar Springs

Property Details: 53 units, newly renovated
  • Purchase in Winter 2017
  • Renovation completion date: Q1 2018
  • Property Purchase for $62,000 per unit
  • Once rehab complete, will be a prime Class A- asset in a Class A neighborhood
  • Prime Oak Lawn, blocks from the toll road, Whole Foods, and Highland Park
  • Pro-Forma Rental income will be increased over 160% from income at time of purchase.
  • Once fully leased post rehab, building will be operating at a 6.30% CAP based on original purchase price and rehab budget in place.