Recently acquired in Jacksonville, this 53-unit multifamily property presents an exciting value-add opportunity. Our second river facing apartment compex, it had fallen into disrepair with high vacancy and deferred maintenance. We purchased the property in 2023 intending to comprehensively renovate and reposition it.

 Our business plan involves renovating the interiors and exterior façade. We are installing new flooring, countertops, appliances, and fixtures in the apartments to bring them up to modern standards. Exterior improvements including new landscaping, signage, and lighting will enhance curb appeal. We are also adding amenities to the river front to allow residents to enjoy the location.

 A crucial aspect of our strategy is implementing new marketing and operations programs to improve occupancy and retention. By leasing up the property, we will be able to drive increases in net operating income and property value over time. We anticipate the renovations and operational improvements at this 53-unit property will allow us to maximize returns and deliver value for our investors.