Heritage Landing Senior Apartments Mount Vernon, IL

Investment Highlights

• Offered At An Extremely Attractive Basis – Approx. 25% Of Replacement Cost
• Newer Vintage Asset Primed For Light Modernizations
• Pristine Physical Condition – Well Maintained By Current Long-Term Ownership
• Immediately QC (Qualified Contract) Eligible – Start The Process Of Removing LIHTC Restrictions On Day One
• Huge Rent Upside In Delta Between Low Income And Full Market Rents
• Fantastic Location In Mt. Vernon – Easy Access To Entire Market
• Offered Free & Clear Of Existing Debt

Offered At An Extremely Attractive Basis – Approx. 25% Of Replacement Cost

Heritage Landing is offered at a highly attractive going-in basis relative to current replacement cost and recent trades across the region. The opportunity to remove the LIHTC restrictions, upgrade existing classic units, and move rents to current market will provide a clear path to outsized returns for future ownership.

Newer Vintage Asset Primed For Light Modernizations

Built in 2008, Heritage Landing offers a new investor a modern-built asset that is primed for light cosmetic upgrades that will allow them to significantly push revenue as units turn.

Pristine Physical Condition – Well Maintained By Current Long-Term Ownership

Heritage Landing has been meticulously maintained by the current long-term ownership group. There is little to no deferred maintenance at the property, allowing a new investor to immediately focus their capital spend on revenue-generating upgrades.

Tenant Services