Montego Bay Apartments
192 Unit Value-Add Multifamily Opportunity | Sierra Vista, Arizona
Centrally located in Sierra Vista, Arizona, the Montego Bay apartments presents Investors a unique opportunity to acquire an attractive 1997 constructed multifamily community featuring the following investment highlights:
♦ 2017 Capital Improvements renovation equaling $761,000
♦ 99% Occupancy
♦ Future rent and management upside
♦ Washer & Dryer in 100% of the units
♦ Well designed and spacious one-, two-, and three-bedroom units
♦ Centrally and conveniently located among schools, parks, shopping and employment centers
♦ Investor can acquire all cash or subject to seller approved financing structure
Kidder Mathews, in collaboration with RealINSIGHT Marketplace is pleased to offer to qualified investors the Montego Bay Apartments (“The Property”), located in Sierra Vista, AZ. Situated on 9.02 attractively landscaped acres, the Montego Bay apartments offers its residents a complete live-work-play living environment with well-appointed amenities that includes a sparkling swimming pool with hot tub, updated resort style pool furniture, community clubhouse with billiards, fitness room and business center, professional management and leasing office, updated children’s playground, dedicated dog park, and assigned covered parking. Prospective residents can select from four well designed and spacious rental floor plans offering all electric kitchen, washer and dryer, private balcony or patio, carpeted and wood planked vinyl flooring, ceiling fans, refrigerator and dishwasher.
Originally constructed in 1997, the Montego Bay ownership completed extensive renovations in 2017 which included major roof repairs, full exterior paint and stucco repairs, resurfaced pool, equipment and resort style furniture, new children’s playground, dedicated dog park, exterior lighting, and parking lot repairs.
Grounded on the recent capital improvements completed and consistently high stabilized occupancy, prospective investors for the Montego Bay are ideally positioned to capitalize on future rental and management upside.
Borrowers interested in engaging Kidder Mathews (“KM”) and CW Capital Markets ("CW") to arrange financing for the Property should contact Susanna Reust and she will provide preliminary debt quotes to all borrowers that exclusively engage LCM and CW to assist with debt placement.
KM & CW ADVANTAGE
Kidder Mathews is a leading financial intermediary for investors, developers and operators of commercial real estate. Through our strong network and long-standing relationships, we are able to provide our clients access to the market’s wide range of financing solutions to fit any situation. Throughout the marketing period KM will provide investors with real time debt quotes from various capital sources. It is to the investor’s benefit to contact us early in the process in order to discuss all available terms, along with the advantages of engaging KM/CW on the financing versus completing an all-cash acquisition.
BENEFITS OF ENGAGING KM/CW IN ARRANGING FINANCING INCLUDE
TRANSPARENCY continued transparency in the debt capital markets for the subject opportunity based on real time conversations KM is having with lenders
ACCESS TO PROPERTY lender will have access to the property, post contract, to complete their diligence prior to closing
FINANCING IN PLACE allows the investor to close with financing in place
NOTE - Benefits referenced above will only be made available to investors who engage KM/CW prior to the auction start date. It is recommended that investors contact KM early in the process.
FOR DETAILS CONTACT
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.
You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
Platform fee for this transaction is 5.00% or a minimum of $25,000.