Towne Oaks Townhouses
Towne Oaks Townhouses is a 24 building, 90 unit garden style apartments on 8.15 acres. It is a well maintained property with strong historical cashflow. The purchase of $6,075,000 was completed mid-August 2018. The investment was expected to generate a 10% average cash-on-cash return with a projected IRR of 17%. We planned to increase value with improved management efficiency, implement utility chargebacks and raise rents to market.
The property was sold November 2021 with a realized IRR of 24%.
| Purchase Price | $6,075,000 |
| Expected Rate of Return | 17% |
| Actual Rate of Return | 24% |