Ashland has identified Brentlinger Park for acquisition, a 2023 build, 113-unit Class A market-rate property in Louisville, Kentucky.
Currently 94.7% leased, the property has potential for rent increases, as existing leases are 8.5% below market rates.
Our experience with a similar property in the area supports this investment.
Louisville's population has grown by 15.49% since 2010 and is projected to increase by another 9.24% over the next decade.
The city ranked first for rent growth in Q2 2024, indicating a strong rental market.
🟠Target net IRR off 17.18% and 2.04x equity multiple
🟠Average net cash-on-cash return of 7.47% over the lifetime of the deal
🟠Target average annual return of 20.86%, assuming a sale in year 5
🟠Investors can expect total cash flow distributions and profit on sale of about 104.30% (2.04x equity multiple)
We are excited about this investment and expect it to fill up quickly.
Click here to learn more and schedule a call: https://lnkd.in/g-zdB59p
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*Accredited Investors Only
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Senior Credit Analyst
1moJeremie is a great resource in the income producing property sector. He’s also done so many deals that there’s nearly nothing he hasn’t seen. This helps investors avoid delays in closing their deals or worse, losing out on a deal because of a lack of experience. Highly recommend working with him.