Apartment Partners is pleased to present the Cambridge Murray Portfolio, a
125-unit portfolio in Murray, Kentucky. The portfolio is spread across 26
buildings within a quarter-mile radius as shown on the map on the next page.
Current ownership self-developed the majority of the portfolio and has
maintained the assets exceptionally well through hands-on meticulous
self-management. The next owner will have the immediate opportunity to adjust
current operations and implement sophisticated 3rd party management to include
a utility billback and reimbursement structure to capture additional income.
Currently, ownership has begun increasing rents by $50-$100 per unit upon lease
expiration and maintained 100% occupancy. By continuing this initiative, the next
owner can increase GPR by 6%.
Additionally, all utilities along with cable/internet are paid by the
landlord and included in monthly rent. By passing these charges to the tenant,
the next owner can immediately increase EGI by nearly 20%.