Bim Bam Boo Lofts - Kairys Properties
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Bim Bam Boo Lofts

Bim Bam Boo Lofts

Chapel Hill, NC

This 12 unit apartment building is located next to town hall in the heart of Carrboro NC.

We gutted and redesigned the entire 14,000 square feet. We added upscale features and finishes and enjoyable deck space facing the park, which is home to the very popular Carrboro Farmers Market.

At only 1 mile to UNC Chapel Hill, Bim Bam Boo is home to mostly graduate students.

ACQUISITION
  • Acquisition Date 1/8/12
  • Acquisition Price $900,000
  • Existing Monthly Rent $6,700
  • Cap Rate at Purchase 4.8
COSTS
  • Total Hard Costs $425,000
  • Total Soft/Entitlement Costs $95,000
  • ALL IN COSTS $1,420,000
STABILIZATION
  • CO’s issued 8/1/12
  • Gross Monthly Rent $18,800
  • Annual Net Operating Income $158,000
  • Appraised Value $2,450,000