6600 Rivers Ave
North Charleston, SC 29406
4.85% + 3 years IO
- We have purchased a property that has been maintained excellently, but has some areas where we can improve the management. We also plan to capitalize on organic rent growth, as well as premiums for interior renovations
- Exterior improvements: Painting all the exteriors, new pet park, new gym, playground, barbecue area, and new pool furniture
- Well located B Asset in North Charleston, SC
- Plan is to acquire agency debt, with low interest rate, couple year’s interest only, to allow us to maintain occupancy while doing renovations.
- Brought in new management company, rebranding and signage, painted all exteriors of the building, started interior renovations.
- Within the first 12 months we plan on completing all exterior work, turn of 40% of units, to get an increase of 25% over current rents, all while maintaining a 92% occupancy.