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AUTUMN TRACE

128 Units | Class B | Kokomo, IN
16.5% IRR | 1.93x Equity Multiple 

Open For Investment

Focused Capital is excited to announce our newest investment opportunity. Autumn Trace in Kokomo, Indiana, an attractive 128-unit apartment community.  Kokomo displays strong demographics and promising job growth that outpaces the rest of the state. The property was constructed in two phases during 1995 and 1996. It is a high-quality asset that is owned by the original developer, Pedcor. 

WHY WE LOVE THIS DEAL

Attractive Returns​

A projected IRR in the mid-teens and a strong cash on cash return support a great risk-adjusted return for this well-maintained asset.​

Great Basis​

Acquiring this well-below replacement cost($88k/unit), less than 50% of new construction costs.​

Market Demand​

2800 new jobs moving to this market, 20% of which will be international employees needing rental housing. Less than 400 units delivered in the last decade.​

Low In-Place Rents​

Current rents are $200+/mo below market, limiting downside exposure.​

Forced Appreciation | Value-Add Strategy​

Planned in-unit renovations and exterior updates will provide a compelling choice for current and new renters.​

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