UNITS: 1,037 | PORTFOLIO NOI: 4,028,356 | AVERAGE UNITS SQFT: 847 | AVERAGE DEAL SIZE: 104
Marcus & Millichap is pleased to present The Z10 Portfolio, 1037 units of apartment living across 10 assets in the desirable Cincinnati, Dayton, Columbus, and Seymour submarkets of the Midwest. The portfolio provides the investor a hard-to-find opportunity with phenomenal potential due to its solid submarket fundamentals, top-notch employment, high demand, and market proven rental upside in each of the markets. Fundamentals of the portfolio are unmatched as it outperformed the rest of the market through 2020.
This portfolio boasts an average of 5% physical vacancy factor on the trailing 12 months.
Z10 shows a 99% collection rate through 2020, one of the most trying years for apartment properties to ever endure.
MARKET PROVEN RENTS
Average rents on the portfolio are anywhere from 5-10% below market competition, a clear path to increasing value through organic rental
RUNWAY FOR RENTAL GROWTH
The average rent across the portfolio comes in at $0.82 per square foot while the average rent per square foot across the metros is $1.07.
STRONG MARKET FUNDAMENTALS
Z10 Portfolio gives and incoming investor the opportunity to invest in two of the top ten most COVID resilient markets in the nation.
HIGH BARRIER TO ENTRY
With low inventory velocity through most of the markets the portfolio is in, this gives an incoming investor the ability to build immediate scale to reduce operation costs over nearly 1100 units.
FAVORABLE UNIT MIX
Z10 Portfolio offers a very attractive unit mix of over 75% two and three bed unit layouts maximizing Gross Potential Rent opportunity for an incoming investor.