IPO is pleased to present two properties in Frankenmuth, Michigan. The communities combined contain 32 apartment homes. The first property, Bavaria West Apartments, was built in 1982. The complex contains 24 units across four buildings. The unit mix consists of 24 studios. The second property, 955 West ArdussiApartments, contains 8 units and consists of all one-bedroom units. Currently, both properties are operating at 95% occupancy and both properties have maintained this high level of performance for many years. Based on current occupancy and expiring leases through 2025, IPO has projected a year-one NOI of $149,805 and a year-two NOI of $156,304. The projections are based on current average rent at the property, while accounting for the market rent growth,and T12 expenses. The Frankenmuth Portfolio represents two well-located assets in Frankenmuth, poised for new ownership with a value-add mentality.