6514 Chaffee Road,
Des Moines, IA 50315
7201 South East 5th Street,
Des Moines, IA 50315
Over $4.2 Million Invested in 2022
Ownership has invested over $4.2 million dollars in both properties in 2022. Interior capital expenditure renovations include new security lighting, stairway and common hallway upgrades, and plumbing upgrades that support water conservation. Exterior improvements include landscaping, exterior paint, swimming service, and the addition of a dog park. In total, 236 units (65%+) have been fully renovated with new flooring, paint, doors, trim, fixtures, appliance upgrades and more. This extensive renovation will allow for minimal deferred maintenance for future ownership.
Proven Rent Upside of $140+/Unit with Strategic Interior Renovations
Hampton Meadows and The Ridges will enable new ownership to realize significant rent premiums through a proven value-add renovation program. Over 65% of the units have been renovated, and classic units are primed for continued value-add implementation. Upgraded finish packages have resulted in an increase of more than $140 per unit monthly.
Strong Operations and Occupancy Trajectory
Current ownership has significantly improved operations of the assets and has dramatically improved occupancy to a high blended occupancy rate of 69%, which has risen from an occupancy rate of under 30% prior to renovations and the installation of new management. The current property manager is a 3rd party manager with an immense amount of experience within the submarket and is willing to stay in place for a new owner.
*Select Units Only
When evaluating your options for a partner to assist with the sale of your multifamily asset, there are a number of factors you may consider. From experience and market knowledge to marketing prowess and ongoing support, each plays an integral role in creating a positive experience and a profitable outcome. Yet the one competency you may never have considered could be the one that matters most: the ability to move capital across markets efficiently and effectively.
MMG possesses a unique combination of talent, resources, expertise, and access that delivers an elevated experience from acquisition to disposition. Discover the benefits of a partnership with us.
MMG Real Estate Advisors
601 Westport Road
Kansas City, MO 64111