Jackson Branch Apartments
RealSource was established in 1989 with the central focus of helping investor clients insure their maximum profitability through RealSource’s “Prime-Time Investing” model. The key strategy of this proprietary model is investing in the right geographical location in the…
Salt Lake City, UT
About this Property
- Demonstrated Value-Add Strategy: 222 units were recently upgraded. The current owner is receiving a market rent bump of $75 rent for the fully upgraded units. The sponsor is receiving on average a $100 rent bump on similar upgrades for an adjacent property. Completing these upgrades on the remaining 284 units is projected to improve NOI 17.8%.
- Expense Reduction: RealSource is working with the seller to terminate the Dallas Housing Authority contract currently in place on 110 units. By not waiting until close new ownership may receive sooner the estimated 13.6% NOI improvement.
- Market:This property enjoys tremendous curb appeal and visibility in North Dallas, Texas, one of the strongest submarkets for employment and rent growth. This market is well known by the sponsor which owns and manages an adjacent 484 value-add multi-family property and a nearby 202 unit complex.
- Short Hold Period: RealSource projects to hold Jackson Branch for 3 years depending on the market outlook once the value-add upgrades are complete and the rents are stabilized.
- Attractive Cash Flow: The projected cash flow starts off much stronger than most value-add opportunities. Please see the Executive Summary and other due diligence in the documents folder for complete details and let any member of the RealSource team know if you have any questions, have an interest or need additional information.