Nordic Manor Investment Opportunity
Nordic Partners made several strong offers in Q4, but none progressed to contract. Nordic Manor stood out as the most compelling opportunity among these offers, and we're excited that they successfully secured it under contract with favorable terms. With their proven track record of exceeding investor projections since 2020, below-market pricing, and strong market fundamentals, we are enthusiastic about this project and will be investing approximately $400,000 as a group. Full Offering Memorandum Investor Portal Location & Features A prime Greenwood location with easy access to Downtown Seattle and Green Lake. The property features 18 units with modern appliances, stone countertops, and private parking. Growth Potential Projected 27.5% rental growth and a $78,000 NOI improvement post-stabilization. Additional upside exists through rent optimization and laundry facility upgrades. Financial Highlights Purchase price of $3,450,000 ($200,000 below the asking price). Target 19.84% IRR with a 1.95x equity multiple.
Investment Opportunity Details
Eligibility and Timeline Available only to Accredited Investors. Targeted 5-year exit or refinance is planned. Total equity raise of approximately $2M. Financial Projections Equity Multiple: ~1.95x Target IRR: ~15.5% Preferred Return: ~5% Rental Growth: ~27.5% NOI Growth Post Stabilization: ~$78K Management and Location Nordic's in-house team is successfully operating 100+ units within five miles, providing management efficiencies and low execution risk. Property Features Property includes 18 private parking stalls with potential for security lighting upgrades. Units feature a desirable mix of partially renovated spaces with modern appliances and stone countertops. All units are tenant-ready for immediate cash flow, with proven value-add opportunities through rent optimization.
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