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INVESTMENT HIGHLIGHTS
THE ASSET: The Portfolio consists of five properties located in Somersworth, Dover, and Milton. The Portfolio consists of fifty-eight (58) units consisting of three (3) Studio units, thirteen (13), 1-Bedroom/1-Bathroom units, thirty-four (34), 2-Bedroom/1-Bathroom Units, four (4) 3-Bedroom/1-Bathroom units, one (1), 3-Bedroom/2-Bathroom unit, two (2), 5-Bedroom/1-Bathroom units and one (1), 5-Bedroom/3-Bathroom unit. The Portfolio comprises 50,929 square feet of living area in 74,406 square feet of total gross area on combined 2.70 acres of land. Each of the Properties in the Portfolio offers ample off-street parking except for 62 Green Street in Somersworth.
ATTRACTIVE ASSUMABLE DEBT: The Portfolio has attractive assumable non-recourse Fannie Mae Debt in place. The debt terms are: principal balance of $6,640,000, interest rate of 3.28%, interest only payments until 8/1/26, and a maturity date of 8/1/31.
VALUE-ADD POTENTIAL: Below market rents offer the potential for increased income on the Properties. The opportunity exists to drive rental rates in supply-constrained residential markets through aggressive management and programmatic upgrades to the remaining unrenovated unit interiors.
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