CURRY JUNCTION

About The Property.

 

Curry Junction is located in Abilene, Texas and surrounded by some of the city's greatest attractions. Within a five-mile radius you will find some of the best trails, shopping, schools, and restaurants that Abilene has to offer.

Property Highlights

  • 228 units with a nice balance of 1 & 2-bedroom floor plans

  • 95.6% occupied

  • Pitched roof with 6 of 18 buildings & office replaced in 2018, individual HVAC, individually metered electric, water is being billed back

  • Great amenities including W/D connections in every unit, a sparkling pool with an outdoor kitchen, a fitness center

  • Great Visibility - Traffic count over 14,000 cars per day.

  • 65 fully upgraded units

  • The seller has agreed to resurface/seal coat parking lot before the close

  • 1.5 miles from our recently closed 124-unit property and 5 miles from our 100-unit property, allowing us to scale with our property management company to lower operational cost

Investment Summary.

 

5-year returns AFTER SPONSOR COMPENSATION:

  • ~13% AVERAGE ANNUAL CASHFLOW

  • OVER 80% OF PROJECTED RETURN IS FROM CASHFLOW!!!

  • 75+% return

  • 14+% IRR

  • Year 1 DSCR is 2.03, well above the lender required 1.35

  • Median household income in 1-mile radius $49K+

  • Cost Segregation to Maximize Returns with Tax Benefits

  • 5 Year Hold

  • A non-recourse loan with a 10-year Term allows us to hold through an economic downturn.

  • 75% Loan to Cost

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Community Features.

 

  • Brushed Nickel Fixtures

  • Ceiling Fans

  • Flooring Upgrades

  • Lock-In Storage

  • Near Dyess Air Force Base

  • Near Mall of Abilene

  • Oversized Closets

  • Private Patios or Balconies

  • Resurfaced Countertops

  • Two Picnic Areas