Chiafos Rental Resort 55-Unit Waterfront Multifamily | $47,000/Month In-Place Income | 80% Occupied | STR Optionality Monticello, Indiana Executive Overview Chiafos Rental Resort is a 55-unit waterfront multifamily asset located immediately outside the entrance to Indiana Beach Amusement & Water Park in Monticello, Indiana. The property is currently operating at approximately 80% occupancy and generating $47,000 per month in gross rental income under a multifamily-style leasing model. This provides stabilized in-place cash flow with immediate upside through lease-up to market occupancy and operational optimization. Originally repositioned and significantly improved, the asset offers investors a rare combination of: Waterfront real estate Newly constructed product In-place income Dock revenue expansion Short-term rental (STR) optionality Seller financing is available for qualified buyers. In-Place Performance Current Occupancy: ~80% Current Gross Rents: ~$47,000 per month Stabilized Lease-Up Opportunity: 95%+ occupancy target Additional Revenue Upside: Dock expansion & STR conversion At current performance, the property demonstrates proven demand and immediate cash flow, with further NOI growth achievable through operational optimization. Unit Mix (55 Total Units) 20 Two-Story 2BR / 1BA Units 18 Single-Story 2BR / 1BA Units 17 One-Bedroom Units (hotel-style layout with full kitchens) All units include full kitchens, supporting: Traditional multifamily tenancy Workforce housing Extended-stay occupancy Short-term rental conversion The flexible layout allows investors to maintain long-term stability or transition portions of the asset to a higher-yield STR model. Capital Improvements Significant recent capital investment has materially reduced deferred maintenance risk: Ground-up construction of 38 units Complete renovation of 17 units New siding, roofing, porches New kitchens and bathrooms Updated flooring and exterior finishes Site and infrastructure upgrades The scope of improvements positions the asset closer to new construction quality than legacy waterfront product typical in the market. Waterfront Infrastructure Direct frontage on Lake Shafer 12 completed boat docks Approvals in place for expansion up to 36 docks 40’ x 60’ maintenance pole barn with restroom facilities Dock expansion alone presents measurable ancillary revenue potential through seasonal leasing and premium waterfront positioning. Location & Demand Drivers Located directly adjacent to Indiana Beach and positioned on Lake Shafer, the property benefits from: Strong seasonal tourism traffic Lake-based recreational demand Limited competing waterfront rental inventory Diversified employment base supporting year-round occupancy This combination supports both traditional multifamily stability and STR-driven revenue upside.