acquire 44 unit apartment building for $4,400,000 with 70% loan to value institutional lender. Investment needed $1,520,000 which is 30% down payment and 6% closing costs, hold investment for thee years and sell for maximum return to investor/s. 70.7% return to investor/s.
Investment Opportunity
Nomad RX LLC
by Robert X Monahan Jr Principal,
is proud to announce an investment opportunity.
By acquiring a 44 Unit Apartment Complex located at 1824 Yeamans Hall Road, Hannahan, South Carolina. at a purchase price of $4,400,000. Cap Rate 8.76%. Built in 2006. Occupancy 97%. Expense Ratio 49.2 %. The buildings have new roofs and new parking lots. Great location 15 minutes to downtown Charleston.
70% loan to value financing $ 3,080,000 with a down payment of $1,320,000 plus closing costs and acquisition fees of 6 %
Or $264,000.
Total investment $1,584,000.
Investments are at $ 200,000. Minimum per investor.
Or one investor can invest a total of $1,584,000.
Returns to investors 70% of gross income per annum
First year $ 121,178 or 7.6 % Return
Second year $ 173,398 or 10.9 % Return
Third year $ 226,198 or 14.2 % Return
Total gross income 3 years- $ 520,774
Principal payment year #1-$37,823
Principal payment year #2-$40,156
Principal payment year #3- $42,632
Total principal 3 years - $ 120,611
3 year exit sale of property for $5,400,000 should yield $ 700,000 after capital gain or 70% of $700,000 to investors or $490,000.
Investors return is 5 of gross income for 3 years, Loan principal for 3 years,exit share on saleor the following:
Gross income-$ 520,774
Loan principal- $120,611
Profit on sale-$ 490,000
Total return to investor after 3 years-$ 1,121,385 or 70.7 % return on investment
We will make minor improvements to the units and increase rents to increase our return on investment. Our Exit Strategy is to sell the property in three years.
Investment Overview
The Willows, located in Hanahan, South Carolina. Tho Willows consists of' 44 units comprised of 41 studio apartment, two 2bedroom/ I-bathroom units and one 2bedroogn/2-bathroorn unit. Just 15 minutes from historic downtown Charleston, The Willows offers residents a convenient location to the Charleston area's employment. shopping. and dining. The city of Hanahan is in Berkley County. The town has experienced steady growth in recent years. attracting new residents and businesses while gaining its smalltown charm. A battery manufacturer is planning to invest $3.5 billion in Berkeley County. This will be Redwood Materials' second facility in the. United States and its investment make it the largest economic development in South Carolina's history. The investment will also create jobs. Volvo Cars announced that it is investing an additional $520 million in its Berkeley County operations and creating 1.910 new jobs. This new commitment adds to the company’s initial 2015 announcement and brings the collective total to more than $1 billion in investment and 3,900 jobs.
respectively. The greater Charleston region is home to 830,00 people across three counties Berkley. Charleston. and Dorchester. The region's population is growing at a rate three limes raster than the U.S. average. Aeronautics. Automobiles, life sciences. logistics. and technology sectors are attracting global manufacturers to relocate to the overall region.Overall, Hanahan South Carolina offers the perfect blend of small town charm, natural beauty, and modern conveniences making The Willows a wonderful place to live.