PASSIVE
INVESTMENT
OPPORTUNITY
Blue Ring Investors is pleased to present the passive investment opportunity in Winston-Salem, NC.
- 8.5% to 9.1% Average Cash on Cash
- 16% to 19% Target IRR
- 2 to 2.10x Target Total Returns in 5 years
- 20% to 22% Target Average Annual Returns
PASSIVE
INVESTMENT
OPPORTUNITY
Blue Ring Investors is pleased to present the passive investment opportunity in Winston-Salem, NC.
- 8.5% to 9.1% Average Cash on Cash
- 16% to 19% Target IRR
- 2 to 2.10x Target Total Returns in 5 years
- 20% to 22% Target Average Annual Returns
CLOSED
PASSIVE
INVESTMENT
OPPORTUNITY
- 8.5% to 9.1% Average Cash on Cash
- 16% to 19% Target IRR
- 2 to 2.10x Target Total Returns in 5 years
- 20% to 22% Target Average Annual Returns
Offering Summary
42-unit apartment community in Winston-Salem, NC consisting of 2 bedroom apartments. Well-located less than a mile from Downtown and close to Universities, Hospitals, and Retail, 555 East Apartments provide nearby, convenient amenities for residents.
8.5% - 9.1%
Average Cash on Cash
16% to 19%
Target IRR
2 to 2.10x
Target Total Returns in 5 years
20% to 22%
Target Average Annual Returns
42
Number of Units
1973
Year Built
$3,200,000
Purchase Price
Deal Type
Stabilized with Value-Add
Class C
Asset Class Type
★ 506(c) offer For Accredited Investors Only ★
Property Highlights
555 East Apartments community just a few minutes from bustling Downtown Winston-Salem!
This community is a private enclave of 42 apartment units. Units are all 2-story with an average of 990 SF featuring 2 spacious bedrooms and 1.5 bathrooms.
- Close access to Downtown Winston-Salem
- Strategic location near a new CVS, Bojangles, Food Lion and other retailers
- Good links to the community and within walking distance to high density employment
- 80% of individual units’ HVACs have been replaced within the last 5 years
- Roof recently replaced within the past 2 years
42 UNITS
Multi-Family Asset
990 SF
Average Unit Size
Class C
Asset Class
1973
Year Built
41,412 SF
Size/Density
95%
Occupancy
Business Plan
Competent Management
Engage national property management company with strong track record
Improve Rents to Market
Institute a program to increase average monthly rents. The current owner has a majority of rents $120 below market. Sponsor owns a 246-unit within 3-miles of subject property and has deep market knowledge.
Increase Occupancy
- Convert an office to an additional unit
-
Allocate $5,000/unit to upgrade 22 units
- Increase renovated unit rents by ~$200/unit
Increase Community Engagement
Enhance the community experience with additional amenities including a stronger partnership with the city
Additional Value Add Programs
Interior renovation package consisting of appliances, countertops, cabinets, flooring, etc to capture increased rent
Increase Occupancy by converting existing office into an additional unit
Business Plan
Competent Management
Engage national property management company with strong track record
Improve Rents to Market
Institute a program to increase average monthly rents. The current owner has a majority of rents $120 below market. Sponsor owns a 246-unit within 3-miles of subject property and has deep market knowledge.
Increase Occupancy
- Convert an office to an additional unit
Allocate $5,000/unit to upgrade 22 units- Increase renovated unit rents by ~$200/unit
Increase Community Engagement
Enhance the community experience with additional amenities including a stronger partnership with the city
Additional Value Add Programs
Interior renovation package consisting of appliances, countertops, cabinets, flooring, etc to capture increased rent
Increase Occupancy by converting existing office into an additional unit
PROPERTY VIDEO
Offering Memorandum
