The Company is acquiring Venture on Lockett, an 18-unit multifamily property for $3,750,000 ($208,000 per unit).

This 4-building townhome-style community spans 19,639 square feet and consists of 18 spacious units that have demonstrated consistent occupancy and steady cash flow since their construction in 1995. The property is currently 100% occupied, highlighting strong tenant demand.

With High-Density Residential zoning and a well-designed layout, the asset presents substantial upside through rent growth and targeted value-add improvements. We plan to invest approximately ~$864,000 ($48,000 per unit) in strategic renovations designed to elevate the property to market standards and increase long-term income. Enhancements will include adding in-unit washers and dryers to 12 apartments (with 6 already equipped), installing air conditioning throughout, and upgrading interiors with modern flooring, kitchens, and appliances.

Our plan is to reposition the property over the next three years, driving rent growth and asset appreciation, and ultimately achieving a profitable exit at an estimated $6.3 million valuation ($350,000 per unit).