128-Unit Riatta Ranch Apartment Acquisition in Abilene, TX with Chihiro Kurokawa, Apartment Building Investing Expert
Multifamily Investor Nation · Whitney Elkins-Hutten
May 19, 201943m 42s
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Show Notes
Dan Handford with PassiveInvesting.com discusses the 128-unit Riatta Ranch apartment investment that acquired by Chihiro Kurokawa with Blackriver Equity Partners. This asset was acquired with in-place occupancy of 94%. The market cap rate was 6.4% and this was low due to the high expense % of 76% upon acquisition. The adjust going-in cap rate assuming a 52% expense ratio was 9.8%. The projected returns for passive investors on the 5 year hold was great.