Current Investments

The Reserve at 5th

san diego investment real estate

The Reserve at Fifth

Investment Information

Address: 1928 5th Street Springfield, OR 97477
Asset Class: Multifamily, Conventional
Size: 38 units
Year Built: 2016
Acquisition Date: December, 2017
Acquisition Cap Rate: 5.68%

The Reserve at 5th consists of 5 two-story townhouse apartment buildings which are situated on a 1.59 acre site. The garden style community features a desirable unit mix of two-bedroom/1.5-bathroom townhouses which are appointed with high end finishes including granite countertops and in suite laundry appliances.

MPC Strategy:
Located four miles east of Eugene, the city of Springfield has experienced a housing shortage in recent years and has an average vacancy rate of just 2% as a result. McKee Private Capital identified this asset as a replacement property for a 1031 exchange and successfully closed the transaction in December, 2017, marking its first acquisition in the state of Oregon. We obtained financing through Freddie Mac’s small balance loan program. In addition to monthly cash distributions, investors can expect steady appreciation in asset value given the underlying fundamentals in this growing market.