Connect on Union is Western Wealth Capital's 40th acquisition, and presents an opportunity to double your equity by investing in a cash-flowing property in North America's strongest real estate market.
Western Wealth Capital believes investors in Connect on Union could realize annualized returns as high as 19% and up to 99% of equity returned within four years.
- 200,000+ jobs within 20-minute drive of the property in four of Metro Phoenix's premier employment districts
- Prime location in between three major freeways
- Connect on Union is located on the strongest rental corridor in North Phoenix
- Consistently high occupancy rates due to the high level of renters in this submarket (50% are renters).
- Units at Connect on Union feature their original 1980's interior fittings.
- This makes the property an ideal candidate for Western Wealth Capital's value-add program:
- Western Wealth Capital plans to complete interior upgrades to 88 of the 146 units over two years and we have modeled a projected $85 per month per unit increase in rental income for upgraded units.
- These Gold Star Interior upgrades have the potential to increase the value of the asset by approximately $1.7 million.
- We plan to install washer/ dryers in 133 of the 146 units at Connect on Union and have modeled a projected $50 per month per unit increase in rental income for upgrades units.
- These washer/ dryer installations have the potential to increase the value of the asset by approximately $1.6 million.
- Rents at Connect on Union are 20% below the immediate competitive set average, and are positioned for substantial rent increases.
- The current owners are operating with signiﬁcant disparity between rents of like-units across the property. Western Wealth Capital intends to reduce that disparity using our proven lease management approach.
- These actions have the potential to increase the value of the asset by approximately $4.1 million, simply by normalizing and bringing rents to market.
- Previous owners at Connect on Union recently invested significantly in property amenity and common area upgrades.
- This means that we can focus our investment on the implementation of our Gold Star interior upgrades and washer/ dryer installations.
Join Us for More Information: Wine & Cheese Reception
Please join us for a wine & cheese reception at our offices on Tuesday, February 13th. This is a great opportunity to learn more about Connect on Union, our future investment plans, to meet some of our team and investors, and to learn more about Western Wealth Capital's value-add system.