Offering Summary
THE PROPERTY
Crowdvest is pleased to present this offering of the Wilmington Apartments located in the heart of Wilmington. Every unit has their own driveway and fenced in backyard. There is also a storage unit in the back of every unit. Granite counter tops, stainless steel appliances water proof flooring and so many great features. The property is fully occupied and every lease is government backed and guaranteed through Sec 8 program. Sec 8 has already determined that each lease will have a rent increase going into year 2.
Each of the 16 units within Wilmington Apartments showcases brand-new construction in 2023, equipped with stainless steel appliances, waterproof flooring, and granite countertops in both kitchens and bathrooms. These high-quality materials and interior upgrades offer tenants luxurious living spaces in the heart of Wilmington.
THE SPONSOR
Investing with Crowdvest LLC provides you with a hassle-free way to enter the commercial real estate market. Our syndication model allows you to invest in high-quality properties with a lower capital requirement than traditional real estate investments. Plus, our team handles all the complexities of property management and ensures that your investment is well-maintained.
We offer a range of investment opportunities, from multifamily properties to office buildings, so you can choose the type of real estate that best fits your investment goals. Our platform also provides transparent reporting, so you can track your investment's performance and stay informed about any developments in the market.
Watch Ken discuss his background and investment philosophy in this video.
Wilmington Realty
In the heart of Wilmington, North Carolina, this offering presents a collection of 16 newly constructed units from 2023, each featuring private driveways, fenced backyards, and modern amenities, fully occupied with government-backed leases through the Section 8 program, poised for a rent increase in year two.
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| Preferred Return: | 8% |
| Targeted Equity Multiple: | 2.2x |
| Targeted IRR: | 19% |
| Targeted Investment Period: | 3 Years |
| Property Type: | Multifamily |
DISCLAIMER
Any investments being offered are pursuant to an exemption from registration under Regulation D of the Securities Act of 1933, specifically Section 506(c). As such, only investors who are verified as being "accredited investors" will be able to invest in this opportunity, and only upon receipt, review and execution of the definitive offering documents. Please refer to www.SEC.gov for further guidance regarding accreditation.