Sunny Ridge Townhomes Marion, IA

Investment Highlights

• Best-In-Class Asset – BTR Construction 
• Rents $150 - $250 Below Market | Upside of 9% at Stabilized Rents  
• Unique Pre-Set Tax Abatement Benefits 
• Adjacent to Marion’s Retail & Education Centers
• Offered Free & Clear of Any Existing Debt 

Best-In-Class Asset – BTR Construction 

These large townhome units represent a differentiated product type from the typical box apartment options. The scarcity of BTR townhomes allows for higher rental rates driven by significant demand and extremely limited supply of similar options. Attracting a diverse tenant base, including professionals, families, and retirees, Sunny Ridge can meet the demand with several different floor plan options. Features like attached garages, private entrances, full size washers and dryers and high-end unit finishes enhance the property’s appeal, justify premium rental prices, and lead to higher tenant renewal rates. Sunny Ridge caters to a wide range of tenant needs and preferences.

Rents $150 - $250 Below Market | Upside of 9% at Stabilized Rents  

Current in-place rents are well below market rents of competitive communities located blocks away, affording the opportunity for a new owner to create substantial additional value in near term renewals and turnover. Future ownership will benefit from this loss-to-lease capture expected to boost topline revenue by ~9%.

Longterm Pre-Set Tax Abatement Benefits 

Sunny Ridge allows a new investor the opportunity to take advantage of a pre-set tax abatement program set through 2031. In the year 2032, property taxes will revert to normal Linn County rates and amounts. The abatement saves a new investor more than $624,994 in property taxes over the remaining term of the program.

Tenant Services