Description
AVAILABLE FOR PURCHASE - TENANT IN COMMON INVESTMENT
Total Project Value: $32,400,000
Available for purchase: $1,700,000 ($510,000 Equity) to $17,000,000 ($5,100,000 Equity)
This offering is a unique opportunity for an apartment investor to join seven other investors to purchase a percentage of a large, class A apartment community. Due to the Tenant in Common structure, an investor can purchase or exchange into this apartment investment which was purchased two years ago by a small group of sophisticated apartment investors. The numbers contained in the brochure are based on actual collections or the current operating budget for the property. All the management fees and replacement reserves have been calculated into the yields. All day to day property management will be done by 3rd party companies. The LTV is a fixed amount but total equity needed to purchase could be as low as $510,000 up to $5,100,000.
Lake Shore Apartments is in an excellent location, within southwest Springfield, offering easy freeway access. The property is within walking distance of shopping, restaurants, banking, healthcare and movie theaters.
Lake Shore Apartments is in an excellent location, within southwest Springfield, offering easy freeway access. The property is within walking distance of shopping, restaurants, banking, healthcare and movie theaters.
PROPERTY HIGHLIGHTS:
Excellent location within southwest Springfield with freeway access
Proximity to Chesterfield Village business and entertainment district
Springfield employment excellent including a highly developed medical community with a total of six hospitals and over 15 colleges and universities
Within walking distance of shopping, restaurants, banking, healthcare and movie theaters
Situated among 24 acres with a lake, gazebo, pools and exercise facilities
Beautiful mature landscaping and walking path. Low density (16u/acre)
Open kitchens with wood cabinetry, microwaves and dishwashers
Abundance of parking including detached garages