San Marcos 24 was acquired through a relationship-driven, off-market opportunity with favorable seller financing. Instead of a full repositioning, the strategy focused on safety, livability, and preserving affordability. The result: ahead-of-schedule lease-up, rent growth well above pro forma, and multiple paths for exit or refinance—all while protecting investor capital with a capital-efficient structure.
Strategy
Leveraged 70% seller financing at 5% interest-only
Focused CapEx on strategic upgrades and deferred maintenance
Preserved workforce housing affordability while enhancing appeal
Avoided full renovation to maintain fast lease-up and low turnover
Targeted markets with demand tailwinds despite broader market softening.
Purchase Price: $2,640,000
Seller Financing: $1,848,000 at 5% interest-only (5-year term)
Equity Invested: $1,130,000
Occupancy Ramp-Up Target: 50%+ within 6 months
Rent Forecast: Conservative increases to stabilize in 18–24 months
Occupancy: 75%+ within months of acquisition
Rent Performance: 30% above pro forma
No Concessions: Leased up ahead of nearby comps
Monthly Cash Flow: Gaining strength as units stabilize
NOI: Trending upward faster than modeled
Want to see what’s currently available?
Want to see what’s currently available?
San Marcos 24 shows the value of strong operator relationships, fast execution, and creative capital structuring. With 70% seller financing and interest-only terms, we reduced upfront capital needs and boosted returns. Strategic renovations enabled above-market lease-up performance, even as other nearby properties struggled with incentives and extended vacancy. The flexibility to refinance, hold, or sell gives us optionality in a changing market—without sacrificing monthly cash flow. This is a real-world example of how thoughtful investing outperforms aggressive repositioning in volatile cycles.
Interested in strategic opportunities like this? Book a strategy call →
Don’t miss deals with flexible upside. Join our investor list →
When the deal is right, the structure matters. Apply to JV now →
Join our inner circle to be the first to know:
New investment opportunities
Timely market updates
industry trends