Concord Square Apartments Ontario, OH

Investment Highlights

• Strong In-Place Cap Rate
• Outsized Future Yield
• Low-Cost Value-Add Strategy
• Enormous Capital Improvements Completed
• Location & Strategic Points of Interest
• Strong Local Demographics & Limited Market Supply

Strong In-Place Cap Rate

In-place cap rate is at ~7% after adjusting for taxes and moving expenses to market. Going-in, Day 1 cash yield lands above the 8% mark and significantly outpaces yield in the broader marketplace. 

Outsized Future Yield

By increasing effective rents approximately 9% to rental rates that have been proven several times in the rent roll, a double-digit cash yield can be achieved in the short term. Additionally, stabilized yield on cost is above market at 8%; this is a purely operational play and there is little to no capex needed. 

Low-Cost Value-Add Strategy

New ownership has an opportunity to capitalize on low to no cost value add strategies. By working with the local cable/internet provider and offering tenants monthly service, ownership can access an additional ~$40 in monthly income across the property. With 67 of the 73 units having washer/dryer hookups and no current offering of those machines, new ownership can improve the tenant experience while also building income of $25-$50/unit.

Amenities