Property Details
Repeat Sponsor  Stabilized Occupancy  Below Market Rents  NOI Growth 
Asset Profile
Value Add

Paramount Apartments Los Angeles

Paramount, CA

Multi-Family Property
Fiola Communities
Fiola Communities
Targets
  • IRR 16-20%
  • Equity Multiple 1.5-1.9x
  • Hold Period 2-5Y
  • Minimum Investment $30K
  • Year 1 Cash on Cash 2.9%
  • Stabilized Cash on Cash 4.9% in Y1
  • First Distribution Dec 2018
  • Distribution Frequency Quarterly
  • Co-Investment 10%
  • Preferred Return 8%
  • Investor Profit Share 60%
  • Asset Profile Value Add
  • Loan-to-Value 70%
  • Current Occupancy 94%

About this Property

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.

Key Points

  • Core Market: This property enjoys tremendous curb appeal and visibility in Los Angeles, the second largest market in the United States for real estate investment behind New York City. This asset is on one of the busiest streets in Paramount providing a huge window to help us promote the property.
  • Short Hold-Period: While Fiola Communities underwrites all deals as 2-5 year holds, we have not held any syndicated asset longer than 2 years. Most assets are turned within 18 months.
  • Excellent Property: Excellent purchase price, with almost $500/unit monthly in rental upside.
  • Great Unit Mix: With amenities including on-site laundry and a community area to see post rehabilitation improvement.

Offered By

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Assets Under
Management

Currently
$57MM 10+ assets
Exited
$46MM 10+ assets
Portfolio LTV
59%  
Historical
Realized Returns

Total IRR
26%  
Equity Multiple
1.35x  
Annual Cash
6.5%  
Years Of
Experience

As Principals
30+ years  
In Business
8 years  
Size
6 Staff * Dedicated investor relations
* All information is reported by Fiola Communities as of 4/10/2018.
Assets Under
Management

Currently
$57MM 10+ assets
Exited
$46MM 10+ assets
Portfolio LTV
59%  
Historical
Returns

Total IRR
26%  
Equity Multiple
1.35x  
Annual Cash
6.5%  
Years Of
Experience

As Principals
30+ years  
In Business
8 years  
Size
6 Staff * Dedicated investor relations
* All information is reported by Fiola Communities as of 4/10/2018.

Financials

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Offering Financial

Location Details

Paramount, CA

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.

Documents

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Offering Agreement Documents

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