80 Maple, LLC

Investment Description

Property 

  • Apartment Buildings consisting of 80 units
  • Maple Hts Ohio
  • Value Add Project

Property Financials 

1. AcquisitionPurchase Price  $3,765,000
2. Capital Improvements  $350,000
3. Closing Fees & Carrying Costs $360,000
4. All In Costs $4,460,000
5. Current Net Operating Income  $280,000
6. Current Cap rate 7.25%
1. Stabilized Projections in 21 monthsNet Operating Income $380,000
2. Stabilized Cap Rate 8.52%
3. Stabilized Value @ 6.25 Cap $6,100,000
4. New Loan Amount @ 75% LTV $4,580,000
5. Equity Created $1,560,000
6. Cash-Out Refi Proceeds $45,000
7. Annual Cash Flow After Debt Service $110,000

Investment

  • Price Per Share: $100,000
  • Shares Available 15
  • Term 21 Months
  1. Exit Strategy:Refinance within 21 months to pay back investors & disburse refi proceeds
  2. Then Hold for 10+ years for cash flow and to build long term equity

Return On Investment

Each Unit of $100,000 will yield the following approximate projections
Note: If an investor brings in $300,000, they would simply receive 3 units and 3 times the amounts below)
  • 1. Fixed Preferred Return of 10%
  1. Earns $10,000 in interest per year
  2. 10k (year 1) + 7500k (year 2, *only 9 months)
  3. 21 month hold projected
  • This is paid while investor’s principal is invested. For each Unit owned, the investor will earn $10,000 per yearTaxed at long term capital gains rates.
  • 2. 1% Kicker at Refi 
  1. Ex: 100,000 X’s 1% = $1,000 Kicker Bonus at Refi
  2. All Equity Returned

Expected Return on Investment 

  • $17,500 Preferred return (10% annualized interest)
  • $1,000 Kicker @ Refi
  • = $18,500  Total Return On Investment in 21 months10.56% Annualized Return

Asset Details

80 Maple, LLC
5381-5411 Sunnyslope Road, Maple Heights, OH 44137 Map
ASSET TYPE PROPERTY CLASS UNITS
Multi-Family C 80

Property Details:

  • 80 Units
  • C+ Class Location
  • 6 Miles from Downtown CLE
  • Already 92% Occupied
  • 3-year history over 90% occupied
  • Garden-style apartments
  • Amenities:
  1. On-site management
  2. On-site leasing
  3. On-site maintenance
  4. On-site Laundry
  • Garages
  • Playground
  • Shopping in Walking Distance