The South Maple Townhomes offer large, attractive floorplans to suburban families. Each unit has a private garage – serving as either storage units, covered parking, home gyms, and more. Current ownership also plans on moving forward with his approved, 104-unit development next-door, which would serve as Phase II of South Maple Townhomes. The micro-economics of the Lebanon sub-market boast attractive metrics: (1) Within a 1-0 mile radius, there are over 22,761 employees who work in the Service/Production & Manufacturing industries, & (2) have an average HHI of over $71,157. With the asset’s strategic location, walk-ability, demographics, and access to major thoroughfares, it is poised for long-term success. Currently sitting at 100% occupancy with strong operational upside, South Maple Townhomes offers the perfect balance of stability and growth in the current dynamic real estate market.
Additionally, each unit is HPR’d, allowing the next operator to enjoy the cash-flow from the asset, but also have the flexibility to sell each unit one-off to the consumer. A strategy that has been increasingly popular in the SFR-BTR space is the operator working in “Lease-to-Own” language – allowing the tenant to eventually work towards purchasing the unit after a certain term of their lease burns off. This accomplishes a few things: (1) Establishes a sense of “homeownership” in the tenant’s mind early on. They will inherently be more inclined to treat their units with care, keeping your turnover costs down. (2) Allows for flexible exit strategies. When the retail or for-sale market kicks back up, it allows for the opportunity to take each unit to market to the consumer, or sell it to the current tenant.
