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Oct 4, 2016 7:15 EST

Tricap Residential Group – a re-developer of multi-family assets: Tricap is pleased to offer the opportunity to invest in an extensively renovated apartment community, located in the solid submarket of Chattanooga, TN

iCrowdNewswire - Oct 4, 2016

Tricap Residential Group

Tricap Residential Group

In 2007, Tricap was founded as a re-developer of multi-family assets, and achieved quick success repositioning properties through a combination of renovation, enhanced property management, and lease-up. From there, Tricap grew into a multifaceted organization that develops…

About this Property

Tricap is pleased to offer the opportunity to invest in an extensively renovated apartment community, located in the solid submarket of Chattanooga, TN. The opportunity offers an investor the chance to achieve strong cash on cash returns and capitalize on further income gains by enhancing and refining operations, all at a property that has been professionally renovated, leaving minimal maintenance.

Key Points

  • Strong Chattanooga Submarket: The subject property and its immediate competitors are maintaining occupancies at 95% and above.
  • Ideal Location: The Links at Reads Lake offers tenants a convenient 15 minute drive to downtown Chattanooga and affordable middle-market rents.
  • Professionally Rehabbed: Over $1 million spent on upgrades including windows, asphalt, exterior siding, counter-tops, appliances, vinyl wood flooring & light fixtures.
  • Good Cash Flow & Rental Upside: The purchase price CAP rate is over 7%. After renovating the remaining units and moving rents to the current market, the property should achieve a yield to cost of 7.3%.
  • 10.7% Cash on Cash: Investors are expected to achieve a 10% cash on cash return in the first year and average an 10.7% cash on cash for the life of the deal.

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Information:

Tricap Residential Group

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