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Fiola Communities is seeking Investors to provide capital funds totaling approximately $2,480,000 to acquire two quality garden-style apartment communities located in the city of Bellflower in Southeast Los Angeles County.
We anticipate holding these assets two (2) to five (5) years and the investor members shall receive an 8% preferred return per annum while equity investments are held by the company. Once the asset income is stabilized, the company will distribute preferred returns quarterly from the property’s excess cash flow. From approved accredited investors, Fiola Communities will accept in its sole and absolute discretion equity investments between $30,000 and $500,000. FC Flower Palm 29, LLC is the asset entity being formed to acquire and operate the apartments.
The community consists of 29 residential units in good condition, having a value-added rehabilitation component, which will result in a substantial increase in rents. The buildings consist of one (1) studio, twenty (20) 1br/1ba, and eight (8) 2br/1ba apartments. Average rents are almost $500 under the current market rates for comparable apartments. The excellent location and attractive layout of this community with the company’s expertise in rehabilitation will enhance the residents’ enjoyment there.
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Available to Accredited Investors:
Bellflower is a city located in southeast Los Angeles County, California, in the Los Angeles metropolitan area. It was founded in 1906 and incorporated on September 3, 1957. As of the 2010 census, the city had a total population of 76,616, up from 72,878 at the 2000 census. As of the 2010 census, Bellflower is the 25th most densely populated city in the United States, of cities over 50,000 residents (and 8th most densely populated in California), while the County of Los Angeles has a population of approximately 9,818,605 according to the 2010 U.S. Census Bureau. The area consists primarily of similar apartment communities and single-family homes. Properties in the subject neighborhood tend to be in average to good condition and the area is continuing to improve. As a sponsor, these are our 6th and 7th buildings in Bellflower - all of which are located close to where this property is being offered.
Available to Accredited Investors:
Below are some of the most frequently asked questions about this offering.
The funding deadline is September 15th, 2018.
The first projected distribution is scheduled for October 2019.
Distributions are scheduled to go out on a quarterly basis.
Yes, non-US residents are welcome to apply. Please contact the sponsor for more details.
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