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Fiola Communities is seeking Investors to provide capital funds totaling approximately $1,890,000 to acquire a quality garden-style apartment community located in the city of Paramount in Southeast Los Angeles County.
Fiola Communities anticipates holding this asset two (2) to five (5) years and the investor members shall receive an 8% preferred return per annum while equity investments are held by the company. Once the asset income is stabilized, the company will distribute preferred returns quarterly from the property’s excess cash flow. From approved accredited investors, Fiola Communities will accept in its sole and absolute discretion equity investments between $30,000 and $250,000. FC Paramount 17, LLC is the single asset entity being formed to acquire and operate the apartments.
The community consists of 17 residential units in good condition, having a value-added rehabilitation component, which will result in a substantial increase in rents. The building consists of sixteen (16) 2br/1ba and one (1) 3br/2ba house. Average rents are almost $500/per unit monthly under the current market rates for comparable apartments. The excellent location and attractive layout of this community with the company’s expertise in rehabilitation will enhance the residents’ enjoyment there.
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Available to Accredited Investors:
The property is located in Paramount, California, in Southeastern Los Angeles County. The City of Paramount has a population of approximately 56,000 while the County of Los Angeles has a population of approximately 9,818,605 according to the 2010 U.S Census Bureau. Paramount is a working class residential suburb of Los Angeles. The City consists of about 63% rental housing stock.
These last decades have been years of rejuvenation. Paramount now is a unique place, known for its successful transformation from what was once a blighted suburb to what’s now an attractive small town graced by tree-lined neighborhoods, white picket fences, public art, pocket parks, and landscaped boulevards. Located at the gateway to the Los Angeles metropolis, the City offers a secure quality of life to nearly 56,000 residents and a business-friendly attitude that has created a growing retail and services sector. Crime statistics are at historic lows thanks to a proactive, balanced relationship with the L.A. County Sheriff’s Department. Paramount has a distinctive look due to a continual investment in its infrastructure and a long-time emphasis on code enforcement and assistance programs that have helped residents and businesses upgrade and maintain their properties. The municipal government is a stable, innovative, and financially conservative organization, with an emphasis on maintaining the quality of life for residents, all of which have established a town that people are proud to call home.
Available to Accredited Investors:
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