Here are some key highlights of the offering:
• 83-unit multifamily asset ideally located within minutes of all that Branson has to offer and natural amenities near Table Rock Lake
• Asset historically operated as a hotel, repositioned in 2015 as a market-rate property to fill a much needed hole in the market
• Market occupancy of sampled comps sits over 95% in Branson, MO
• Potential for sustained rent growth with no new supply in local pipeline
The property is mainly occupied by seniors and sits at 98% full. They consistently have a waiting list at the property. All individual water heaters and fully furnished units. The biggest boost to the NOI has been the current owners putting tenants on their own electric. As of last week, 82 of the 83 tenants are now responsible for paying their own electric whereas five months ago the owners paid for all electric and did not bill back.