The ideal property has the following characteristics. Not all of these characteristics are necessary, but they are desired.
Acquisition Criteria
Product Type
Unit Count
Age
Density
Parking Ratio
Roof Type
Plumbing Type
Electrical Wiring
Utility Metering
Water Heating
Washer Dryer
Ceiling Height
Schools
Poverty
Geographic Focus
Garden apartment walk-up (no mid-rise or high-rise)
200+ (150+ considered)
1980 or later construction
20 units / acres or less
2+
Pitched
Copper
Copper
Individual electricity and gas
Individual water heaters (no boilers)
Has hookups in unit
9’+
Score of 5+ (preferably 7+) on www.greatschools.org
Low poverty ratio according to US Census (15% or less)
Preference for CA and NV; within a 2 hour flight from LA considered
Preferred Equity Profile
- Ground up only if fully entitled and
building to a 7 to 9 cap
- Partners should have equity to contribute
10 to 25% of equity
Characteristics of Interest:
- Security gates
- Fire sprinklers
- Gym
- Fire and burglar alarms
- Business center
- Condo mapped
- Fenced pool area
- Smoke / CO detectors in al bedrooms and common areas
