Current Investments

Woodwinds

real estate investing san diego

Woodwinds

Investment Information

Address: 123 N 25th Street, Norfolk, NE 68701
Asset Class: Multifamily, Project Based Section 8
Size: 50 units
Year Built: 1979
Acquisition Date: January, 2013
Acquisition Cap Rate: 13.0%

Financial Performance:
Original Capital Investment: $580,000
Projected Investor Dividends (Year 1): 8.75%

Description:
Woodwinds Apartments consist of 6 two-story multifamily apartment buildings located in
Norfolk, Nebraska. The buildings contain a total of 44 two-bedroom and 6 three-bedroom apartment townhomes all of which are made affordable to our residents with rental assistance provided under a HAP Contract (Housing Assistance Payments), administered by the U.S. Department of Housing and Urban Development.   Amenities include an onsite laundry facility, playground, and central air conditioning.

MPC Strategy:
McKee Private Capital had the opportunity to acquire Woodwinds Apartments on an off-market basis in January of 2013. Upon takeover, MPC terminated the existing HAP Contract and negotiated a new, budget based Contract with HUD.  As a result, Woodwinds is no longer subject to periodic RCS (rent comp surveys) and therefore has zero exposure to market rent reductions.  This investment continues to generate solid, double-digit returns to investors each month.