Recent acquisition of a 112 unit value-add multifamily building.

[Chris R.]

Investment Info:

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

Purchase price: $3,875,000
Cash invested: $2,130,000

The Tristan Townhomes consist of 112 two-bedroom, one-bathroom, two-story, townhome-style units. There are 28 buildings, each with 4 units, and one duplex building designed as an onsite property management and maintenance building at the entrance of the property. Tristan was built in 1983 and is a one-owner property. The current owner is in her 80’s and is ready to retire after self managing this property for over 30 years. Rents at the time of acquisition were at $550 per unit.