View Offering Materials: Cambridge Murray Portfolio
Capstone Apartment Partners is pleased to present the Cambridge Murray Portfolio, a 125-unit portfolio in Murray, Kentucky. The portfolio is spread across 26 buildings within a quarter-mile radius. Current ownership self-developed the majority of the portfolio and has maintained the assets exceptionally well through hands-on meticulous self-management. The next owner will have the immediate opportunity to adjust current operations and implement sophisticated 3rd party management to include a utility billback and reimbursement structure to capture additional income. Currently, ownership has begun increasing rents by $50-$100 per unit upon lease expiration and maintained 100% occupancy. By continuing this initiative, the next owner can increase GPR by 6%. Additionally, all utilities along with cable/internet are paid by the landlord and included in monthly rent. Passing these charges to the tenant, the next owner can immediately increase EGI by nearly 20%.
Investment Highlights
Opportunity To Implement Sophisticated Management
Exceptionally Well-Maintained Asset Offered Below Replacement Costs (Built Between 1993-2014)
Strong Local Economy, Superb School Districts, Murray State University
