Hampshire Park Townhomes

• Townhome-Style Product with Large Floor Plans: 37 spacious units averaging approximately 1,096 SF, well above typical garden-apartment product, with several two-and three-bedroom plans featuring attached garages, offering a differentiated for-rent-home feel that supports tenant retention.
• Diverse, Highly Rentable Unit Mix: A balanced mix of one-, two-, and three-bedroom layouts (8 one-bed, 23 two-bed, 6 three-bed) appeals to a broad renter base, from single professionals to families.
• Strong, Stable Occupancy: The property is roughly 95% occupied with a deep roster of long-tenured residents, reflecting durable in-place demand and consistent collections.
• Newer 2008 Vintage: Built in 2008, the asset offers relatively modern construction and reduced functional obsolescence compared to much of the submarket’s older inventory.
• Clean, Normalized Operations: On a normalized basis, insurance reflects true in-place cost of approximately $1,952 per month, excluding the one-time, lender-required wind/hail premium that temporarily inflated trailing expenses, supporting a healthy expense ratio near 42% and normalized trailing NOI of approximately $235,700.
• Embedded Value-Add Upside: A new owner can capture loss-to-lease across long-tenured units and mark below-market rents, particularly the two-bed/two-bath garage units, toward current market levels to grow income over the hold.