Скачать или смотреть Introducing Madison Overland Park by Aspen Funds | Multifamily 506(c)

We are excited to announce our latest acquisition of Madison Overland Park, a 200-unit, 1999-built multifamily property in the Overland Park submarket of Kansas City.

• Units are 98% townhome style, with 45% 2-bedroom floorplans and 55% 3-bedroom floorplans. Average square footage is 1,420 square feet with average in-place rent of $1,591.
• Based in Pennsylvania, this is current ownership’s sole asset in Kansas City. With over 6,600 multifamily units owned, Madison OP was low priority, representing about 3% of the firm’s multifamily portfolio.
• Since acquisition in 2019, ownership has renovated 113 unit interiors. In 2023 alone, ownership spent $1.3m on exterior improvements / mechanical replacements / amenity enhancements. 87 units remain at the classic level.
• Madison OP is among the only large townhome communities in Overland Park, located in Kansas City’s #1 ranked
• Blue Valley School District. The community serves as a prime landing spot for forced-renting small families.
• Aspen is acquiring the asset for $221,700/unit, significantly below replacement cost at $156/sf. Recent sale comps eclipse $249,000/unit and $222/sf.

Product type - Multifamily
Strategy - Core Plus and Value Add
Offering size - $50,000 minimum investment
Closing - 12/15/2023
Hold time - 3-5 yrs
Projected returns
• 16%-20% IRR
• 4%-7% cash-on-cash
• 1.70-2.00x equity multiple

Schedule a Call - https://aspenfunds.us/schedule-a-call/
Soft Commit - https://share.hsforms.com/1UwQU2wcxSz...