2007 Build | Light Value Add

  • 56 Townhomes Across 8 Buildings

  • Each Unit 2 Beds/2.5 Baths @ 930 sqft

  • 96% Occupied (Model Vacant Unit)

  • Surface Parking - 2 spots/Unit

  • Separately Metered Utilities Paid By Tenants

  • In-Place Rent $730/mo (Loss to Lease @ $200/mo)

 

Centrally Located < 10min Drive:

  • Valdosta High School

  • Valdosta State University

  • South Georgia Medical Center

  • Walmart Supercenter/Chick Fil-A

Reach The Community By Driving Through A Quaint Neighborhood - Rolled Concrete Curbs, Sidewalks, Quiet Pond Behind the Complex

 

Action Plan:

  1. Invest in the Property. Add Gated Entry, Enhance Landscaping.

  2. Eliminate Loss To Lease in As-Is Condition Hoping to Minimize Vacancy.

  3. Renovate Vacant Units As They Arise. Likely Mid-Level Turns Based On Market Comps.

 

Investor Profile: Paul S. Dudley (M.D.)

  • Total Units Owned > 100 with Addition of Seth Place

  • Home base - Seattle, Grew up in south Georgia (Douglas)

  • Co-Managing Partner of Medical Practice w/ 250+ FTE’s

  • Director, Pinnacle Fertility

 

TIMELINE:

  • In Escrow - July 7, 2023

  • Inspection Period Ends @ July 26, 2023

  • Closing @ September 8, 2023