Heather Apartments

Investment Overview

Twenty-five units — fifteen two-bedroom, nine one-bedroom, and one studio — across 17,760 rentable square feet at 201 Beeler Avenue, the largest asset in the portfolio by unit count. Heather is the portfolio's momentum story: three units were leased over summer 2026 at $725–$750, lifting in-place rent from $13,127 to $14,054 per month, with new leases signing at or above pro forma market. Current ownership has invested approximately $145,200 since 2025 — the heaviest repositioning spend in the portfolio, including roofs and unit renovations — so remaining upside is operational: lease the three vacant units and bring legacy rents, some dating to 2022, to today's proven levels. Offered standalone or as part of the three-property Poteau Apartments Portfolio.

Investment Highlights

• 25 units (15× 2BR, 9× 1BR, 1 studio) · 17,760 SF · portfolio's largest by unit count
• Three units leased summer 2026 at $725–$750 — in-place rent up $927/mo since May
• 9.5% Year 1 cap and 11.1% cash-on-cash — strongest going-in yield in the portfolio
• ~$145,200 reinvested since 2025 — the heaviest renovation program, largely complete
• Three vacancies + ~$3,250/mo loss-to-lease = clearly mapped upside
• On-site laundry income
• 1.41x Year 1 DSCR at 75% LTV / 6.5% / 20-yr
• Offered standalone or within the 3-property Poteau Apartments Portfolio