Touzi Capital closes Stoneybrook Towers deal

[Ryan Beatty]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Independence.

Purchase price: $2,100,000
Cash invested: $1,000,000

Highlights of the deal:
$12K per unit under market value, or $528k below market price
$92,640 annualized opportunity to increase top line revenue, at a 40% expense ratio, that would add 56k of NOI, or $855k of value to be realized
35-45% Of the units have not been renovated, leaving us ample opportunity to add value
Garden style, has great parking, and a pool
One of the units can be converted from a leasing office into a unit!

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

This purchase is part of a portfolio of apartments we are acquiring in Independence, MO - a submarket of Kansas City which is a market we love. It provides the things we look for - strong day 1 cash flow with value add opportunities.