Parkway North Townhomes

Parkway North Townhomes was an off-market opportunity to acquire a partially renovated 21-unit low-rise apartment community with a great assumable loan. The previous owner began significant recent partial interior and exterior capital improvements to attempt to raise rents to the local market level. With his package, he was able to raise rent $450 from $925 to $1,375. We plan to rehab all of the units to this degree within the first year to capture an additional 22.5% of revenue.