Gulflet Properties invests in Class C multifamily apartment complexes. Typically, multifamily properties that are greater than 20 years old come under the Class C category. These properties are substantially functional and can be found located in well situated areas. However, they often demand extensive renovation, remodeling and repositioning of the tenant mix to realize their investment potential.
The prior ownership of this product Class consists mostly of private investors. Many have made inconsistent or no improvements to their properties and have often failed as self-managers. This Class is generally not sought after by larger institutional investors due to the extent of work that must be done to renovate and reposition the properties. The Class C category of multifamily properties is also known as workforce housing, meaning houses for lower income groups.
Gulflet believes we will continue to benefit from an increase in demand from workforce renters as lower paying industries expand at a faster pace and the income gap continues to widen. As institutional buyers focus on the top-tier segment of the market, Gulflet has demonstrated Class C properties will continue to offer significant upside if renovated and repositioned properly. Please send inquiries to firstname.lastname@example.org.