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Size: 75-250 Units
Vintage: 1980 and newer
Mkt Size: Primary and secondary markets
Geography: Eastern US with concentration in Southeast
Demographics: Strong MHI to rent ratio. Strong population growth.
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Stabilized occupancy with not a lot of capital required.
Typical LP Target Return Metrics:
± 5-yr hold
15-17% IRR
2.0x equity multiple
5+% cash-on-cash
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Non-stabilized occupancy and/or significant capital required.
Typical LP Target Return Metrics:
± 3-yr hold
18-20% IRR
1.8x equity multiple
0+% cash-on-cash