New Multifamily Real Estate Investment Offering In San Francisco Bay Area With 15.8% Target IRR

RealtyMogul’s real estate investing platform has a new offering open to investors. The 210 Lower Via Casitas is a value-add opportunity in the heart of the San Francisco Bay Area’s booming real estate market. The explosion of property values in the area has largely been due to the tech boom, which has seen companies like Meta Platforms FB and Alphabet Inc.’s GOOG Google become international powerhouses.

That kick-on effect has also extended to the rental market, which is why the 210 Lower Via Casitas offering is such an intriguing offering. The project sponsor, Ballast Investments, is looking to raise roughly $4,200,000 from investors. These funds will be used to complete a $55,000 per door renovation that will offer renters 23 class-A units that are much larger than comparable modern apartments.

Investment Highlights

The 210 Lower Via Casitas is a truly unique opportunity. Building permits for multifamily properties in Marin County are rarely granted. In fact, there have been only 150 new apartment units delivered in the county in the last 10 years. So, the opportunity for investors to get equity in a class-A multifamily building in this area is unlikely to come around again anytime soon.

The current rents at 210 Lower Via Casitas are averaging $2.94 per square foot monthly. Ballast Investments is targeting a post-renovation rent per square foot of $3.78. If the developers can hit its targets, it will be a nearly 30% increase in revenue.

In addition to generating solid monthly income for investors, numbers like that will lead to very strong appreciation in the asset’s market value.

• Minimum investment: $35,000
• Projected hold period: 4 years
• Projected internal rate of return (IRR): 15.8%
• Projected equity multiple: 1.80x
• Projected date of first distribution: May 2026

Learn more about this offering and other real estate investment opportunities on Benzinga’s Alternative Investments Hub.

About the Project Sponsor

Ballast Investments is a San Francisco-based real estate developer that operates in several locations across the Western U.S. The company specializes in value-add investments that allow it to increase revenue through renovations and effective management. The company’s portfolio includes 140 multifamily properties with a total of 2,300 units.

Photo: Courtesy of RealtyMogul