This portfolio has 184 spacious units comprised of studio, one-bedroom, and two-bedroom apartment homes, ranging in size from 580 to 931 square feet. These properties were built in 1965 and have been well-maintained over the years with mature trees and landscaping. This portfolio is operating at 88% physical occupancy and has maintained this level of performance for many years, requiring only minimal management oversight from ownership. Glen Arms has one building, comprised of 8 two-bedroom units, that were completely stripped down to the studs and completely renovated. These renovated units are renting for $1,150 a month. When these units are fully leased, occupancy will be north of 90%. This portfolio is operating at a stabilized level. From an underwriting perspective, IPO has forecasted a year-one Pro Forma NOI of $902,036 and a year-two NOI of $1,102,930 based on market rents and 4.0% vacancy and bad debt.