Marina Villas is a B class property, located in a B class area in Pensacola, FL. We purchased this property from a seller who required cash to satisfy other obligations and was motivated to sell. The property was in excellent shape at the time of purchase. Since purchase, we have begun a unit upgrade program, gaining meaningful rent increases with each upgrade. We continue to pay quarterly cash distributions and will operate the property for cash flows until we ultimately sell the property to realize capital appreciation.
Average Cash: 6%+ annual rate
Number Of Units: 48 State: Florida
Purchase Date: February 2016
Sold Date: Still Operating