Fountain Ridge, is a 13-building, 262-unit value-add multifamily investment opportunity delivered 2017 – 2019 in the Village of Pleasant Prairie in Kenosha County, Wisconsin. Fountain Ridge was built and is maintained by one of Wisconsin’s most prominent home builders, ensuring the highest-quality construction and home-like units rarely found in rental products. Fountain Ridge features a mix of:

174 one- and two-story units in three common-entry corridor buildings with 1:1 underground garage parking, including 45 (26%) two-story interior loft-style units.

88 direct-access one- and two-story townhome units, all with attached garages, located in 10 different 8-unit and 10-unit two-story buildings.

PARKING IS INCLUDED IN RENT: All 174 units in the three common corridor buildings receive a free underground garage parking space in their rent. Competing properties charge from $75 to $125 per month for garage parking.

NO PETS ALLOWED: Fountain Ridge does not allow pets. By allowing pets, a new owner will expand its potential renter profile while adding fee revenue. For example, most competing properties charge a $300 upfront non-refundable pet fee plus a $30 per month pet rent.

VALUE-ADD: UNIT INTERIORS: Fountain Ridge is 8 years old with original interior finishes. The opportunity to add plank flooring in all living areas, lighter cabinets, stainless steel appliances, upgraded lighting, and other features will drive additional revenue. The Property’s 45 two-story loft-style units and 88 townhome units are certainly unique to the market and would thus command strong premiums through modern upgrades and finishes.

VALUE-ADD: AMENITIES: Renovate and/or expand the existing Clubhouse building to add a fitness center and co-working spaces, or just upgrade the existing interior finishes. Build a new maintenance garage to move it out of the Clubhouse to create more amenity space.