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The Independent

 * 15% Projected Investor Return*
 * 5 Yr. Projected Hold Period

*Projections are not guarantees and any investment carries risk. Investors are
encouraged to consult their financial advisor before making any investment*

Status

Active!



85%
Funded

Minimum $50,000 Investments

Start Investing

Investment Overview

Objective

Long-term growth

 * $20.0 M
   
   Purchase Price

 * $35.0 M
   
   Projected Exit Price

Price Per Unit$327KGoing in Cap Rate5.1%Projected Hold Period5 yrs.Projected
Price Per Unit$575KProjected Investor Return15%Projected Investor Multiple1.9x

The Property

Located less than a mile from the coast, the Independent is a 61-unit midrise
multifamily asset. Floor plans are evenly spread among studio, 1-bedroom, and
2-bedroom configurations in a four-story concrete and steel construction. The
building went through extensive renovations in 2014 to convert previous office
and commercial space into apartments on the 1st and 2nd floors. A single
commercial tenant and 11,000 s.f. of vacant commercial space remain on the 1st
floor. Unit amenities include washer/dryers, stainless steel appliances,
floor-to-ceiling windows, and outstanding views.

Invest In The Independent
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Why Independent

Please log in or sign up to watch the investment walk through for this offering.

Property Stats

Location: Sand City, CA (Monterey)

 * 2008 Year Built
 * 2014 Year Renovated
 * 1 Number of Buildings
 * 61 Number of Units
 * 95% Occupancy
 * 11 Available Floor Plans
 * $3.13 Avg. Rent sq. ft.


THE LOCATION

The Independent – located just outside the Monterey Peninsula – presents an
incredible value-add investment opportunity in the burgeoning Sand City
submarket. The building was originally conceived as a mixed-use property, with
offices, commercial space, and multifamily units, and built in 2008. The
Independent is ideally positioned to make the most of the market in an area
where multifamily housing is in limited supply. A prime location near the
stunning California coast – including quick access to Big Sur and Pebble Beach
golf course – makes this an exciting investment opportunity.


INVESTMENT STRATEGY

Originally constructed as a mixed-use property, the Independent is well-priced
for its location in a market with limited supply to meet a growing demand. A
value-add strategy that includes the potential for increased revenue through
lease of existing vacant commercial space or conversion to additional
multifamily units creates a dynamic opportunity for single-asset investors.


INVESTMENT DETAILS

Strong rental demand in an affluent location positions the Independent to set
the market for multifamily rents in the Salinas/Monterey submarket. There is
high potential to realize the expected submarket rent growth projection of 15.6%
(through 2027).

Documents

Please log in or sign up to view Investment Documents for this offering.

 * Subscription Agreement
 * Investment Summary
 * Sources and Uses
 * Sales Comparables
 * Rent Comparables
 * Independent PPM
 * Independent Operating Agreement

Still not sure if this offering is right for you or need additional information?

Speak with a member of our investor relations team.

Schedule a call with us

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