1300 Georgetown Blvd
Lansing, MI 48911

Currently 100% occupied, Aspen Hollow presents attractive in place numbers and is listed at a below market value of $40,000 per unit. Current ownership/management has drastically improved/stabilized the rent roll with consistently better income/collections the last 2 years. Aspen Hollow presents investors the opportunity to continue the upward trend of solid collections and income growth to continue adding value to the asset. A new investor can take advantage of the fact that the majority of capital expenditures have already been completed and can focus on renovating the interior of units to continue adding value/raising rents. Another possible value add opportunity would be to add a RUBS program for water. The annual water bill is over $46,000 per year which is considerably high from a per unit basis compared to other apartment complexes. If a new investor were able to successfully bill back 75% of the annual water to tenants, while maintaining the existing rent roll/collections, it would add over $475,000 in overall value (based off a 7.15% cap rate).