ADELAIDE PORTFOLIO
FEATURED PROPERTIES
Purchase Price:
$3,420,000
Unit Count:
28
Location:
Tucson, AZ
Target Cash on Cash Return:
15%
A 2025 Acquisition of a portfolio of three properties located in Tucson, AZ. The 28 unit portfolio was purchased off market with strong in-place cashflow and favorable seller financing.
PROJECTED RETURNS:
The business plan for this property will closely follow the successful model implemented on a previous acquisition: The "Treat Casitas" apartments situated two miles southeast of the Adelaide Portfolio. The plan intends to build on the previous owner's enhancements with additional renovations, which will include new exterior paint, enhanced landscaping, and comprehensive interior unit remodels, as necessary. The current average rent is $964, significantly below the market rate, and we anticipate achieving an average rent of $1,234 post-renovation — a 28% increase. Notably, we project that the 2 Bed / 1 Bath units will rent for $1,295, a figure consistently achieved at Treat Casitas in recent months.
UNLEVERED YIELD ON COST:
7.65%
LEVERED IRR:
15.80%
EQUITY MULTIPLE:
2x
BUSINESS PLAN
