Low Basis 244 Unit Multifamily Value-add in KC!

Asset type: Apartment · Location: Kansas City, Missouri

You've found your next Investment! Partner with a group that has vertical integration from asset management, construction, and property management with a decade of experience on over 4,000 units. Life at Legacy Fountains was foreclosed by the bank and they're highly motivated to now get it off their balance sheet. 244 unit property in Kansas City, MO Under contract for $17.25M while prior loan balance was $19M pre-foreclosure. Bank has invested $500k in Capex with another $2.5M for roofs and plumbing pre-close. 40% discount basis: Buying for $68k/unit with comps at $100-120k/unit. 1.6x EM with 17-20% AAR on a 3 year hold. Potential return of capital in years 1 and 2 from sale of 28 townhouse units. High 70-80% year 1 bonus depreciation.