A 44-Unit Apartment Community in Lafayette, Indiana
Property Overview
Lafayette continues to be a strong market, topping the Wall Street Journal’s Emerging Housing Markets Index in Winter of 2023. Elston Point is minutes away from Purdue University. The vacancy rate in the market is very low. Elston Point consists of two buildings totaling 44 units.
Strategy
To optimize our investment, we will adjust rents to align with local market rates. Additionally, the remaining 18 units will undergo renovations, with corresponding rent increases. Ancillary income sources such as utility billbacks, pet fees, and parking fees, will receive a comprehensive review and overhaul. Additionally, We will assess the feasibility of adding amentities like a bark park and grilling stations to enhance resident experience and community engagement.
Highlights
Strong market in Lafayette with a business and landlord-friendly environment supporting strong economic growth.
Over 50% of the units have been renovated by the previous owner, leaving only 18 units to renovate
Significant rental revenue increases exist without capital investment by improving management and operations
New apartment build coming across the street. This will enable us to grow our revenue by giving new residents alternative lower rent options
Focused Capital effortlessly maximizes and streamlines real estate investments.
Teaming up with over 250 individuals, just like you, we've delved into real estate ventures, generating passive income. Impressively, over 60% of our clients return for further investments, with over half joining us through referrals.
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