|Building Area Net||
|Number of units||336|
Jones Lang LaSalle Americas, Inc. (“JLL”) as exclusive advisor, is pleased to present the opportunity to acquire The Haven at West Melbourne (the “Property”), a 336-unit, 3-story garden style community located in West Melbourne, Florida, a region experiencing rapid economic expansion and boasting robust multi-housing fundamentals. The Property, comprised of 13 buildings complete with garages and average unit sizes of 1,114 square feet, offers residents a spacious resort style feel, expansive amenity package and convenient access to the Space Coast’s top employers including Lockheed Martin, Northrop Grumman, Blue Origin and L3Harris Technologies.
Completed in 2010, the Property’s interior finishes have remained largely original, with the exception of moderate upgrades. The Haven presents a compelling opportunity for new ownership to further implement a renovation program and to apply rent premiums that are easily supported by the submarket’s strong performance in multi-housing fundamentals. Notable recent improvements to the exterior of the property include brand new roofs installed in 2017 as well as the entire property being painted in early 2021.
- Compelling Value-Add Opportunity
- Outstanding Multi-Housing Market Fundamentals
- Convenient Access to Top Employers and Demand Drivers
- Healthy Resident Profile
- Spacious Units Compared to Comps
- Notable Recent Improvements to the Asset