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SAR Apartment Capital continues expanding its Florida portfolio with the acquisition of the 54-unit, rental community “The Cottages At Magnolia” in Tallahassee.

FOR IMMEDIATE RELEASE
September 2nd, 2021

 

For additional inquiries please contact:
Abiel Ballesteros
VP, SAR Apartment Capital
1-786-355-6646
abiel@abielballesteros.com

SAR Apartment Capital continues expanding its Florida portfolio with the acquisition of the 54-unit, rental community “The Cottages At Magnolia” in Tallahassee.

 

The final purchase price is US $4,170,000 dollars

 

Miami, FL – Today Abiel Ballesteros, SAR Apartment Capital, and multifamily investor Elvis Mons, are proud to announce the acquisition of a 54 residential property in Tallahassee, Fl for $4,170.000 US dollars, at $77,222.00 per door with average per-unit rents of US $950.00.

SAR Apartment Capital identified an opportunity to double the unit count to 108 apartments by converting the oversized 4 bedroom/ 4 bathroom apartments into smaller, yet sizeable models.

 

Our development plan calls for these 4/4 units with 1,590 sq. ft to be remodeled into two units of 1-bedroom/ 1-bathroom; and 2-bedrooms / 2-bathroom units, thus creating a value-add opportunity through operational and physical upside by adding full-time in-house maintenance and property management.

As part of this redevelopment, we intend to make an investment of US $1,9 million dollars in capital improvements to complete our vision for the new community.

Projected IRR 25.06%
Projected Level Equity Multiple 4.43%
Average Cash on Cash 8.73%

With this new acquisition, SAR Apartment Capital and its partners are delivering again on its promise to source, acquire and manage multi-family assets with high ROI potential for its investors.

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SAR Apartment Capital LLC is a multifamily investment firm based in Miami, Florida. With over $162 million in assets under management, the company is focused on major metropolitan statistical areas that demonstrate low vacancy, consistent rent growth, and a growing Real GDP.

SAR Apartment Capital continues expanding its..

SAR Apartment Capital continues expanding its Florida portfolio with the acquisition of the 54…

SAR PROPERTY MANAGEMENT

Multifamily Investment

SAR Apartment Capital LLC is a national multifamily investment firm with over $130,000,000 of assets under management. 

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