ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO

Transcription

1 ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST ATLANTA, GA Michael Finch Senior Vice President Je7 Cline Senior Vice President Carnell Scruggs, CCIM Managing Director GA License #75895 SVN RealStar Advisors N. 90th St., Suite 203, Scottsdale, AZ OFFERING MEMORANDUM

2 PROPERTY INFORMATION 3 Executive Summary Complete Highlights Additional Photos LOCATION INFORMATION 7 Property Description Regional Map Location Maps Aerial Map Model Rendering Elevations Floor Plan FINANCIAL ANALYSIS 15 Investment Overview DEMOGRAPHICS 17 Demographics Report Demographics Map ADVISOR BIOS 20 Advisor Bio & Contact 1 Advisor Bio & Contact 2 Disclaimer SVN RealStar Advisors N. 90th St., Suite 203, Scottsdale, AZ OFFERING MEMORANDUM

3 FOR SALE ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO Atlanta Build For Rent 47 Home SFR Portfolio 1 PROPERTY INFORMATION 1 PROPERTY INFORMATION Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST ATLANTA, GA SVN RealStar Advisors Page 3 All SVN OCces Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

4 Executive Summary OFFERING SUMMARY Sale Price: $7,500,000 USD Number Of Units: 47 Cap Rate: 6.73% NOI: $504,513 Lot Size: 0.08 Acres Year Built: 2018 Building Size: 74,354 Zoning: Market: Submarket: Price / SF: Residential Atlanta College Park $ USD PROPERTY OVERVIEWVIEW These 47 Build For Rent Single Family Residential homes are located in the College Park submarket in greater Atlanta, GA. This Build For Rent (BFR) investment opportunity consisting of 47 Build For Rent (BFR) Detached Single Family Residential Rental investment properties are soon to begin construction. The rental subdivision is located in College Park GA., a submarket in the greater Atlanta metro area and only 10 minutes from downtown Atlanta. These quality new build homes for rental investment features an opportunity for Buyer to purchase homes at CertiRcate of Occupancy and place tenants prior to completion so the investment is immediately cash Sowing. Stabilized Year I Cap Rate is estimated at 6.73% has conservatively been modeled given market rents in the area. This 47 Build For Rent (BFR) portfolio oqers almost no capital expenditures for several years auer occupancy. The Developer/Builder here is a seasoned Builder, with vast experience in the regional market place and is well known for quality & integrity. Our 47 BFRs oqer spacious Soor plans throughout, all two story 3 bed and 2 bath units with two car garages. Rental rates today are projecting rents between $1199-$1350 per month for these beautiful homes. In place HOA with quarterly fees of $105 per quarter. Pre-Leasing can begin once homes are under construction and when builder reaches certircate of occupancy on Rrst block of homes, buyer can close escrow and move tenants in asap creating an immediate cash Sow and return on your investment from day one! ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 4

5 Complete Highlights SALE HIGHLIGHTS Increase Your IRR and Yield with a New Build SFR Investment Portfolio With Little/No Capital Expenditures Excellent Year 1 Stabilized Cap Rate of 6.73% with Zero Cap Ex Fast Growing City Only 10 minutes from Downtown Atlanta 47 Build For Rent (BFR) Detached Single Family Residential Rental Investment Portfolio All Homes are 3BD/2BA Homes at 1582/SF with Quality Finishes Throughout Immediate Access to Arterial Streets, Freeways, and World s Busiest Airport Experienced Regional Builder Provides Homes at CertiRcate of Occupancy (C.O.) Builders Warranty on Brand New Homes with Greatly Reduced Capital Expenditures & Reserves Additional Home Warranty Package on Big Ticket Items Giving Nearly 5 Years of Limited CapEX ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 5

6 Additional Photos ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 6

7 FOR SALE ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO Atlanta Build For Rent 47 Home SFR Portfolio 2 LOCATION INFORMATION 2 LOCATION INFORMATION Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST ATLANTA, GA SVN RealStar Advisors Page 7 All SVN OCces Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

8 Location Description LOCATION OVERVIEWVIEW College Park is just south of Atlanta proper and is one of the fastest growing areas in the country and home to Georgia's second largest convention center, more than 8,000 hotel rooms, an eclectic mix of great restaurants, and is just minutes from downtown Atlanta. College Park is Atlanta's global gateway to the world, only ten minutes from downtown Atlanta and home to the world's busiest airport, HartsReld-Jackson Atlanta International Airport, and the spectacular new international terminal. College Park has many quaint local restaurants and is full of southern charm. The city is also home to Georgia's 4th largest historic district, with many fun & educational tourist attractions. ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 8

9 Regional Map Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 9

10 Location Maps ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 10

11 Aerial Map Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 11

12 Model Rendering ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 12

13 Elevations ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 13

14 Floor Plan ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 14

15 FOR SALE ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO Atlanta Build For Rent 47 Home SFR Portfolio 3 FINANCIAL ANALYSIS 3 FINANCIAL ANALYSIS Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST ATLANTA, GA SVN RealStar Advisors Page 15 All SVN OCces Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

16 Investment Overview SFRhub BFR BROCHURE INVESTMENT OVERVIEW 47 BFR College Park Operating Year: Year 2 Year 5 Year 7 INVESTMENT OVERVIEW: Stabilized Year: Year 1; T-12 Year 3; T-36 Year 5; T-60 a) Buy Price $7,500,000 b) Buy Price Per Unit $159,574 c) Cap Rate Stabilized Year 1/3/5 6.73% 7.44% 7.95% d) Cap Rate Adjusted with Cost Segregation Year 1/3/5 8.61% 9.32% 7.95% e) Gross Yield Year 1/3/5 9.49% 10.37% 11.01% f) Net Operating Income, Year 1/3/5 (N.O.I.) $504,513 $557,835 $596,321 g) Unleveraged Internal Rate of Return (I.R.R.) Year 1/3/5 Year Hold 9.23% 11.61% 12.48% h) Leveraged Internal Rate of Return (I.R.R.) Year 1/3/5 Year Hold 30.76% 38.70% 41.61% i) Leveraged Cash on Cash Return (ROI) Year 1/3/5 Year Hold 14.50% 16.87% 12.32% OPERATING PRO FORMA j) Gross Scheduled Income, Year 1/3/5 $712,014 $778,037 $825,419 k) Other Income (App. Fees, Pet Fees, Late Fees) $0 $0 $0 l) Average Lease Rate, (P.S.F.) Year 1/3/5 $0.80 $0.87 $0.93 m) Vacancy 0.0% 0.0% 0.0% n) Operating Expenses, Year 1/3/5 $207,501 $220,202 $229,098 o) Net Operating Income, (N.O.I.) Year 1/3/5 $504,513 $557,835 $596,321 p) Advanced Cost Segregation Benefit, Additional Annual Cash Flow $141,000 $141,000 $0 q) Adjusted Net Operating Income with Cost Segregation Benefit $645,513 $698,835 $596,321 DEBT OVERVIEW r) Debt Amount at 70% LTC $5,250,000 s) Annual Debt Service Payment (P&I) $319,212 t) Estimated Annual Market Valuation Appreciation (National) - Year 1/3/5 5.40% 5.40% 5.40% ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 16

17 FOR SALE ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO Atlanta Build For Rent 47 Home SFR Portfolio 4 DEMOGRAPHICS 4 DEMOGRAPHICS Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST ATLANTA, GA SVN RealStar Advisors Page 17 All SVN OCces Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

18 Demographics Report 1 MILE 3 MILES 5 MILES Total population 6,727 50, ,146 Median age Median age (male) Median age (female) Total households 2,768 19,865 54,561 Total persons per HH Average HH income $42,797 $48,338 $49,649 Average house value $142,468 $162,706 $170,732 * Demographic data derived from 2010 US Census ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 18

19 Demographics Map POPULATION 1 MILE 3 MILES 5 MILES Total population 6,727 50, ,146 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 2,768 19,865 54,561 # of persons per HH Average HH income $42,797 $48,338 $49,649 Average house value $142,468 $162,706 $170,732 * Demographic data derived from 2010 US Census ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 19

20 FOR SALE ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO Atlanta Build For Rent 47 Home SFR Portfolio 5 ADVISOR BIOS 5 ADVISOR BIOS Atlanta Build For Rent 47 Home SFR Portfolio ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST ATLANTA, GA SVN RealStar Advisors Page 20 All SVN OCces Independently Owned and Operated The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

21 Advisor Bio MICHAEL FINCH Senior Vice President N. 90th St., Suite 203 Scottsdale, AZ T C michael.rnch@svn.com AZ #SA PROFESSIONAL BACKGROUND Michael Finch began his successful career over 10 years ago in Phoenix, Arizona. Mr. Finch was able to expand his expertise from commercial and sales and development. He has developed broad local and national relationships with the top ranked high density mid to large scale developers for Commercial Mixed Use & Multifamily Development. As markets shided, Mr. Finch leveraged lender relationships formed in previous years, to plan and begin distressed real estate disposition. Michael was able to develop and grow these relationships to become an integral part of the acquisition and disposition team. Michael has developed and managed an extensive pipe line of lender owned assets, short sales, and portfolio note sales. Michael has continued to deliver value add deals for existing multifamily assets as well as several income producing segments to his growing client base. With an extensive national network, Mr. Finch has been successful and enjoys being an integral partner for client teams focused on large scale income producing portfolios which include existing multifamily, retail, occe, medical & hospitality assets. ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 21

22 Advisor Bio JEFF CLINE Senior Vice President N. 90th St., Suite 203 Scottsdale, AZ T C jeq.cline@svn.com AZ #SA PROFESSIONAL BACKGROUND Mr. Cline has worked with top industry professionals and has personal advanced knowledge and experience in small to very large-scale commercial real estate brokerage, asset management, acquisition, Bnancing, development and construction segments. As a principal, Mr. Cline has completed approximately $2+ billion of commercial real estate property development and construction in most segments including approximately 22,000 multifamily units. Mr. Cline s specibc experience includes commercial real estate leadership in general management, team building and managing, corporate and construction Bnancing, business development, asset management, property management, development management, marketing, disposition of new construction projects including multi-family, hotel, occe, industrial and senior assisted living properties. JeA s top executive and mid-management level combined with front-line experience across most segments of commercial real estate in retail / management operations, design and general contracting, development, Bnancing, property management and real estate brokerage. Over 38+ years, JeA has established an expanding local and national network of industry leaders as partners, clients and associates. ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 22

23 Disclaimer The material contained in this OQering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this OQering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this OQering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This OQering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this OQering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any Rnal, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their otcers, employees, representatives, independent contractors or atliates, for the accuracy or completeness thereof. Recipients of this OQering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This OQering Brochure is a solicitation of interest only and is not an oqer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OQering Brochure or making an oqer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an oqer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. ATLANTA BUILD FOR RENT 47 HOME SFR PORTFOLIO 5224 HANOVER ST, ATLANTA, GA SVN RealStar Advisors Page 23