Quarterlot
Nadia Brozek
Offerings Springfield, MO

1412 S Cherry Ave — 6-unit walk-up

1412 S Cherry Ave, Springfield, MO 65807
Front elevation, Cherry Ave
Front elevation, Cherry Ave
Unit 3 — kitchen, post-refresh
Unit 3 — kitchen, post-refresh
Rear lot and parking pad
Rear lot and parking pad
Mechanical room
Mechanical room

About this property

Six one-bedroom units two blocks off National Ave, fully leased since June with one turnover in the last eighteen months. We bought the note from a retiring owner who had not raised rents since 2021, which is most of the upside here. Four of the six units have been refreshed (paint, flooring, counters); the remaining two turn over in spring and we have budgeted the same treatment. Roof was replaced in 2021. The boiler is original to a 2014 retrofit and we have penciled a swap into year three rather than pretending it will last the hold.

  • Fully leased, 6 of 6 occupied as of July
  • Average in-place rent $735; comparable refreshed units in the submarket are asking $810–$840
  • Taxes reassessed 2025, no appeal pending
  • Off-street parking for 7 vehicles

Sponsor

Terms

Redemption & fees
Shares are subject to a five-year hold. Redemption requests may be submitted in the quarterly window that opens after the second anniversary of closing; requests received outside a window are held to the next one. Redemptions before the end of the hold period are assessed a 2% early-redemption fee against the redeemed amount. An annual asset-management fee of 1.25% of invested capital is deducted from distributions before they are paid. Redemption is at the sponsor's discretion and may be deferred or prorated in any quarter where honouring requests in full would take the operating reserve below six months of debt service. Distributions are not guaranteed.
Hold period & distributions
Target hold is 5 years from closing. Distributions are quarterly, first distribution q3 2027, paid to the account of record. Sponsor may extend the hold by up to twelve months on notice to investors where a sale inside the target window would materially reduce proceeds.
Fees & sponsor compensation
Acquisition fee of 1.5% of purchase price, paid at closing. Annual asset-management fee of 1.25% of invested capital. Sponsor participates at 20% of proceeds above a 7% preferred return to investors. Third-party property management is billed to the property, not to investors, at 8% of collected rent.
Risks
Real estate is illiquid and this offering has no secondary market. Distributions are not guaranteed and may be suspended. Occupancy, repair costs, insurance and property taxes may all move against the projections shown here, and the 2014 boiler is a known near-term capital item. You may lose some or all of your investment.

Investor Q&A

Questions and sponsor answers are visible to everyone viewing this offering.

  • rjb1977Jul 22

    who's actually managing this day to day, you or a third party? your last two deals used a manager and I could never get a straight answer out of them about turnover

    Halloran Property Group

    Third party — Kestrel Residential, same firm as the Dayton deal. Leasing and maintenance both. I'm on site quarterly.

  • margaret_tJul 29

    is the appraisal current or is that the 2024 number you had on the last listing

    Halloran Property Group

    March of this year. Happy to send the PDF, email us through the sponsor page.

  • coastalsaverAug 1

    what happens to distributions if a unit sits empty for a quarter

    Halloran Property Group

    Reserve covers it. We hold six months of debt service. Has come up once across eleven deals.

  • dwf_investsAug 3

    roof age? photos don't really show it

    Halloran Property Group

    Replaced 2021, 30-year architectural. Boiler is the older item — 2014 — and there's a swap budgeted in year three.

Posted publicly on this offering page.