Dalton GA Portfolio -Multifamily 📈

[Kristine Flook]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $4,187,000

53 total units (53 - 2bd/1ba 900sf Garden Style) The B class residential areas that these properties are located give a family community feel. By combining the properties, the Valley residents will have immediate access to the amenities at Dalton Beach Club
Dalton, GA is a submarket of Chattanooga, TN (Booming market) Average occupancy of 96% with less than 1% delinquency through the pandemic (Housing shortage) Major flooring manufacturing hub

What made you interested in investing in this type of deal?

N/A

How did you find this deal and how did you negotiate it?

Relationship

How did you finance this deal?

N/A

How did you add value to the deal?

VALUE ADD PLAN YEAR 1 CAPITAL EXPENSE BUDGET Renovate interiors of 32 units on Dalton Beach Club (91 of 155 units have partial upgrades)Renovate interiors of 20 units on The Valley Address the deferred maintenance Exterior upgrades which include new signage, playground and landscaping. YEAR 2 CAPITAL EXPENSE BUDGET Complete interior renovations of remaining 32 units on Dalton Beach Club and 12 units on The ValleySwimming Pool upgrade

What was the outcome?

Value-Add

Lessons learned? Challenges?

N/A

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

YES