The Hamilton at Lakeside
Offering Start Date: April, 2018
Location: Kissimmee, FL
Development Type: 108 Unit, Class A Luxury Multi-Family Housing Rental Community
Total Raise: $4,200,000
Investment Units: $100,000 (42 available)
Minimum Investment: $50,000
Preferred Return: 8%
Projected IRR: Provided in offering materials
Target Investment Period: 11 years
Issuer: JYP Hamilton, LLC
Developer: United Development Corporation
Operator: United Plus Property Management, LLC
Fully Funded April 22, 2019
The Hamilton at Lakeside is a 108 unit market rate multifamily apartment community proposed on a 6.09 acre site located on the west side of John Young Parkway in Kissimmee, Florida.
The apartment homes will be in two four-story elevator buildings with open corridors. There will be 60 one-bedroom units ranging in size from 727 to 819 sf, and 48 two-bedroom units ranging in size from 979 to 1,251 sf. The spacious apartments will have nine foot ceiling heights, luxury vinyl plank flooring, ceramic tile bathrooms with some double bowl vanities, elegant kitchens with granite counter tops, task lighting, high quality cabinetry, and stainless steel appliances consisting of side-by-side refrigerators with water/ice in door, range, microwave range hood, dishwasher, and disposal. Each apartment will be equipped with a washer and dryer. All apartments will have a screened patio or balcony with sliding glass doors. The apartments will be equipped with energy efficient heating/cooling systems, appliances, ceiling fans and lighting that will incorporate SMART Home technology. Each apartment will contain “smart” technology to control exterior locks, entrance lighting, and thermostats. The initial benefit to prospective tenants is the possibility of increased energy efficiency which would reduce energy costs. Also, the system will offer some unique advantages to owners and property managers as well. For instance, the property manager will be able to assign keys to maintenance staff and/or repairman and better track the time of tasks. Furthermore, the Company and the property manager will no longer have to replace keys and locks when tenants turn over as they will be able to assign a new key to any given unit which would deactivate older keys. This provides a high safety factor for residents.
The 4,971 sf community center will provide leasing and management offices, lounge, game center, coffee/breakfast bar, fitness center, multipurpose aerobics/yoga room, locker rooms with sauna, pool, hot tub, outdoor kitchen/pavilion, lounge, and dog park.
The Hamilton offers one and two bedroom apartment homes on a yearly lease rental basis.
Rental rates range from $1,455 per month for one bedroom/one bath (727 SF) to $1,807 for the largest two bedroom/two bath (1,251 SF). Nine varieties of different floor plans are available.
Pricing strategy takes into consideration our market position and product differentiation goals. It will reflect the positioning of The Hamilton as a high-end product.
We have established apartment home pricing based on several factors: apartment home finishes, features, square footage, layout, and the clubhouse and property amenities.
One bedroom/one bath apartments – three floor plans
One bedroom/one-and-a-half bath apartments – one floor plan
Two bedroom/two bath apartments – five floor plans
Notwithstanding small variations there are nine floor plans available ranging in size from 727 SF to 1,251 SF.