Lamar Lofts is underperforming its competitive set on a rent basis, with in-place effective rents averaging $1,311 per unit against market rents of $1,612 per unit, a $300 per unit gap representing $84,831 of annual loss-to-lease that new ownership can capture through renewal and turnover pricing Occupancy also presents room for improvement, with the property currently at 88.89% against a stabilized target near 95%, offering upside through improved leasing execution and marketing Pro forma underwriting layers in a 5% economic vacancy factor, a 5% management fee, and a 25% increase to real estate taxes, and still supports NOI growth to $405,111, more than doubling current income Additional upside exists in the approximately 37,000 SF of undeveloped land included in the offering, which new ownership could explore for future unit additions or ancillary development, subject to feasibility and market study