The Azalea Collection: Bird's Nest Apartments

Investment Overview

Bird's Nest is a highly stabilized, 32-unit multifamily community featuring efficient one-bedroom, one-bathroom layouts averaging 578 square feet . Built in 1978, the property underwent a 100% comprehensive interior renovation in 2025 and currently boasts a 95% occupancy rate. This property can be acquired individually or as part of the 149-unit Azalea Collection portfolio

Investment Highlights

• Turnkey Condition: 100% of the units have been newly renovated with LVP flooring, upgraded appliances, new vanities, and modernized fixtures, minimizing immediate CapEx needs.
• Operational Scale: Because it is located steps away from The Retreat at Pleasant Valley, an investor purchasing both assets can unlock significant operational efficiencies through shared staffing, management, and maintenance.
• Strategic Revenue Flexibility: Ownership retains the flexibility to pivot between market-rate and Section 8 subsidized tenants. Capturing high rents with conventional tenants establishes on-site "Rent Reasonableness" comparables, allowing ownership to maximize government-backed subsidies under the new 2026 SAFMR limits.
• Strong Returns: Projected to deliver a 7.69% Year 1 Cap Rate and a 19.6% 5-Year IRR