Opportunity Highlights

• Long Term Owner Completes Heavy Lifting

  The asset has benefited from over a decade of consistent ownership and meticulous maintenance, preserving its physical condition, enhancing curb appeal, and supporting long-term value. Current ownership has invested nearly $12,000 per unit in capital improvements over their tenure of ownership.

• Proven Value-Add:

  50 Stoneview presents a compelling value-add opportunity, with approximately 81 units already fully renovated with new flooring and appliances, achieving estimated rental premiums of $225+ per unit. An additional 121 units have received partial renovations, including either flooring or appliance upgrades, supporting estimated premiums of $100+ per unit. Further upside may be realized through the installation of in-unit washers and dryers across all of the units.

• Highly Marketable Unit Mix:

  The subject property features spacious one- and two-bedroom floor plans averaging 1,049 square feet, with two-bedroom, two-bath layouts comprising 75% of the unit mix.

• Limited New Supply:

  Within a 5-mile radius of the subject there is only one property (269 Units) currently under construction limiting new competitive supply in the submarket.

• Wallet Share:

  Current in-place rents ($1,369) account for only 19.50% of monthly Average Household Income within a three-mile radius of subject.

• Attractive Renter Demographics:

  The surrounding three-mile area benefits from favorable renter fundamentals, including average household income of $84,200, a 55% renter population, and low unemployment of 2.8%.

• Rent vs. Own Gap Fuels Demand:

  Renting at 50 Stoneview remains significantly more affordable than homeownership in the market. Average monthly rental costs of $1,525 are approximately 55% lower than estimated monthly ownership costs of $3,533, creating a meaningful affordability advantage that supports sustained renter demand and may help reduce resident turnover.