Arbor Pointe is a 171-unit multifamily property located along Hancock Expressway, a major corridor situated between I-25 and the Colorado Springs Airport, and located within a fairly designated Opportunity Zone in El Paso County. The property has undergone significant renovations, including updates to interior hallways and residential units. All major mechanical systems, roofs, and windows are in excellent condition, and the installation of solar panels has substantially reduced common area electricity costs. The property features ample space for the addition of new amenities and includes an on-site management and leasing office. Arbor Pointe is subject to a Land Use Restriction Agreement (LURA) in place through 2043. However, the restrictions have minimal impact on the asset’s overall performance. Specifically, 4 units are restricted to 30% of Area Median Income (AMI), 34 units to 50% AMI, and 133 units to 80% AMI. Notably, the allowable rents for 50% AMI in El Paso County currently exceed market rents and have continued to grow year over year. This LURA structure allows investors to benefit from highly favorable financing terms and enhanced leverage upon stabilization. With targeted exterior cosmetic improvements and continued interior upgrades, investors have the potential to achieve double-digit cash-on-cash returns in Year 1 by bringing rents up to market.