Woodbriar Apartments

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100 Woodbriar Path | Rural Hall, NC 27045

LOCATION

Wright State University (WSU)'s Dayton Campus is located in Fairborn, OH, a suburb of Dayton and within a two-hour drive of several major metro areas, including Cincinnati, Columbus, and Indianapolis. Surrounded by lush, green forests, WSU is spread out over 634 acres of space in the Miami Valley Region of southwest Ohio.

The Opportunity

Berkadia is pleased to present Elysian at Sunset, a 384-unit core multifamily community in Las Vegas, Nevada. Completed in 2023, Elysian at Sunset sets the standard with opulent, high-end finishes and an exceptional array of upscale amenities underscored by a posh 9,000 square foot clubhouse. This powerful combination has fueled extraordinary demand. Las Vegas features one of the leanest incoming supply pipelines among major MSAs with only 4.4% of units under construction and 0.6% of new supply projected in 2026. Go-forward rent growth is projected to continue to outpace the broader US, driven by the muted supply and continued strength of the local economy. Population and employment is projected to grow by 9.5% and 8.6%, through 2028 respectively. Elysian at Sunset boasts a phenomenal Spring Valley location, situated along the 215 Beltway between Buffalo and Durango Drives. Residents of the community are surrounded by multiple mixed-use entertainment venues and employment centers, including UnCommons, UNLV Tech Park, UFC Apex, and the recently completed Durango Casino and Resort. Most significantly, within a five-minute walk from Elysian at Sunset, is the site for the proposed $8.5 billion Warner Bros. Studios Nevada. Elysian at Sunset offers investors a distinctive opportunity to invest in a highly stable and exceptionally located luxury multifamily community.

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada. © 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.

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QUICK STATS

BUILDINGS

1982

COMPLETED

UNITS

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© 2024 Berkadia Proprietary Holding LLC Berkadia® is a trademark of Berkadia Proprietary Holding LLC Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. This website is not intended to solicit commercial mortgage company business in Nevada. In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116. For state licensing details for the above entities, visit www.berkadia.com/licensing.

Tailored Living in Affluent Spartanburg Neighborhood

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Thomas Colaiezzi Director901.603.8590thomas.colaiezzi@berkadia.com Caleb Troop Senior Managing Director314.607.3481caleb.troop@berkadia.com Matt Robertson Associate919.812.3174matthew.robertson@berkadia.com

Mark Boyce Senior Managing Director843.628.3765mark.boyce@Berkadia.com Blake Coffey Senior Director843.628.3766blake.coffey@Berkadia.com

Mortgage Banking

Josh Finley Managing Director404.654.2594josh.finley@berkadia.com Adam Erickson Associate Director404.654.2596adam.erickson@berkadia.com

Charlotte Office 4201 Congress StreetSuite 200Charlotte, NC 28209 Raleigh Office 3700 Computer Drive Suite 315Raleigh, NC 27609 Charleston Office 774 S Shelmore BlvdSuite 105Mt Pleasant, SC 29464 Greenville Office 355 S. Main Street1st and 2nd FloorGreenville, SC 29601

Investment Highlights

THE PROPERTY

PROPERTY DESCRIPTION

Unit Mix

58 one-bedroom, one-bathroom units 30 two-bedroom, one-bathroom units

GALLERY

Investment Highlights

The Property

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Address No. of Units Parcel No. Type Year Built No. of Buildings No. of Stories Building Materials Roof Type Acres of Land Density Pets Allowed No. of Parking Spaces

100 Woodbriar Path Rural Hall, NC 27045 88 6910-67-7742.00, 6910-67-8454.00, 6910-67-8896.00, 6910-67-9745.00, 6910-77-0621.00 Multifamily 1982 Eight Two Wood Frame Pitched Roofs with Composition Shingles 5.18 Acres 17 Units per Acre Yes 150 Surface

Unique Long-Term Owner with Minimal Rent Increases Woodbriar Apartments has been owned and operated by the same individual for nearly 30 years. Rare long-term ownership has resulted in minimal historical rent increases and no material unit renovations. Current ownership has focused primarily on maintaining occupancy, as opposed to NOI optimization through technology or community upgrades that will ultimately boost leasing results. Woodbriar Apartments presents a unique opportunity to acquire a true long-term self-managed asset with substantial rental and operational upside.

Untapped Value-Add Potential Through Interior Renovations and Operational Efficiency

Renovations Interiors at Woodbriar Apartments remain largely classic. New ownership is well positioned to run a full-scope renovation to capitalize on rent growth in the immediate submarket. Based on supporting comps in the market, a fully scaled value-add program could yield rental premiums averaging $224 per unit. The renovation scope includes:

Ancillary Income The current ownership is generating no ancillary income from the property. However, based on market comparisons and similar properties in the area, new ownership has the potential to increase annual revenue by approximately $805 per unit through various additional income streams. These other income items could include the following:

New Laminate Countertops Black Appliances White Shaker Cabinets Updated Lighting and Hardware Package Fresh Interior Pain Faux Wood Blind Framed Bathroom Mirror Ceiling Fan LVT Flooring throughout

Pet Fees & Rent Trash Fees Application Fees Administrative Fees NSF Fee Late Fees Early Termination Fees Miscellaneous Income

Implementing a complete interior renovation and ancillary income program has potential to yield annual premiums totaling over $70,700.

Proximity to Winston-Salem’s top retail and employment nodes This property represents an exceptional investment opportunity, strategically positioned near some of Winston-Salem's top employers and key lifestyle amenities. Located just under a 20-minute drive from the heart of Winston-Salem, it offers unparalleled access to a dynamic job market, with over 37,000+ jobs in the area. In addition to being close to major employers, the property also provides convenient proximity to a wide range of everyday services, making it an ideal location for both residents and businesses.

LOCATION