Winston Square & Roselawn
Multifamily | 208 Units
Marketing description
Winston Square and Roselawn are a recently foreclosed REO opportunity that offers significant upside through a renovate and sell strategy.
Winston Square | 120 units — $29,850/Unit
•Acquisition basis: $36/SF | All-in cost basis: $64/SF | Target exit: $91/SF
•Projected 3-year IRR: 49%
•Year 3 pro forma NOI supports a $9MM exit at $75,000/unit at a 9% cap rate
•Targeted ~13% Year 3 Yield on Cost via a 3-year fix-and-refinance or sale
Roselawn | 88 Units — $33,000/Unit
•Acquisition basis: $46/SF | All-in cost basis: $79/SF | Target exit: $106/SF
•Projected 3-year IRR: 38%
•Year 3 pro forma NOI supports a $6.6MM exit at $75,000/unit at an 8.5% cap rate
•Targeted ~12% Year 3 Yield on Cost via a 3-year fix-and-refinance or sale
Linked here is the website and DD folder: https://winstonsquareroselawn.sharplaunch.com/
Investment highlights
•Recently Foreclosed REO Offering at a Significant Discount to Market Pricing
•Workforce Location Walkable to Public Schools K–12 and Adjacent to a High School
•Proximity to Major Employers Around Port San Antonio
•Amenity Package Supporting Resident Retention
•Clear Value-Add Strategy Targeting ~$22,500/Unit in Renovations
•Both Assets Situated Across the Street from One Another, Offering Economies of Scale
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