Shreveport Pair

List Price: $10,000,000

Opportunity highlights

• Classic, Spacious Unit Mix

  Constructed in the early 1970’s, Fox Trail and South Pointe offer an attractive variety of spacious one-, two-, and three-bedroom floorplans cater to diverse tenant needs. The combined 248 units at the properties average more than 833 square feet per unit and offer residents a classic architectural style.

• Attractive Investment Basis

  The properties are being offered at an attractive basis of ~$40k per unit. The properties have benefited from current ownership reinvesting into the communities and improving portfolio occupancy by nearly ~30% over the last 12-months. There has been a ~14% improvement to the EGI with consistent improvement to collections, occupancy, and operations.

• Operational Upside

  Ownership is continuing capex projects to bring units online and reach stabilization. The rent roll has been overhauled, resulting in less than 2% bad debt and minimal evictions. The property is seeing an increase to additional income, along with a reduction in expense line items. Current owners utilize an out of state 3rd party operator with expenses in excess of $7,500 per door allowing a new owner to find additional value and efficiencies within operations.

• In-Demand Industries and Sophisticated Workforce

  Shreveport offers plenty of opportunity for its growing population. Healthcare, manufacturing, military, and education jobs define the local economy with respected companies such as Willis- Knighton, Barksdale Air Force Base, General Dynamics, and the Louisiana State University system.

• Economic Investment

  Business investment in Shreveport demonstrates the appeal of this central location. With over $300 million invested by Amazon and American Electric Power in new development, the demand for local employees will remain elevated.

The Location