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Lakeview Crossing Townhomes Offering

Property Overview

NUMBER OF UNITS 123
YEAR BUILT 2018
NUMBER OF BUILDINGS 31
REANTABLE SQ FT 188,480
AVE UNIT SQ FT 1,532
LOT SIZE 16 ACRES
DENSITY 8 UNITS / ACRE

Property Narrative

Worcester Investments is pleased to present the opportunity to partner with us in the acquisition of 123 new Class A townhome units, offering a prime location within the desirable city of Blue Springs, Missouri.

The 123 townhomes will consist of all three bedrooms with two and a half baths. Units range in size from 1296-1978 square feet with attached one and two car garages. Twenty-five units will have fully finished walkout basements. Additional plans consist of a clubhouse with a fitness center and saltwater swimming pool.

All units will have large open floor plans with upgraded flooring, walk-in closets and a fully equipped kitchen with granite counter-tops, under-mount stainless sink, upgraded cabinetry, and Energy Star rated stainless steel appliances including front loading washer and dryer.

Lakeview Crossing will be one of the very first communities in the Midwest to offer Vivant’s Smart Home technology in every unit. This technology offers residents energy savings, convenience and peace of mind for residents while increasing demand and resale value for owners.

We feel confident recommending Blue Springs Crossing Townhomes to our investors, as it presents the opportunity to own a brand new Class A multifamily community at a discount to market value in a prime location while offering attractive returns and growth potential. Upon stabilization, the community should provide strong cash flow and a strong equity position, making both long-term hold and short-term sale prospects very appealing.

Invest

Investment Details

PROPERTY TYPE MULTI FAMILY
NUMBER OF UNITS 123
TOTAL RENT-ABLE SQ FT 188,480
PRICE PER UNIT $151,495
PRICE PER RENT-ABLE SQ FT $98.86

Sources and Uses

SOURCES
LOAN $15,130,693
TOTAL PRIVATE EQUITY $4,528,666
USES
PURCHASE PRICE $18,633,858
CAPITAL IMPROVEMENTS -
CLOSING COSTS $279,508
ACQUISITION FEE $279,508
OPERATING ACCOUNT $466,485
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