Lilly Gardens

TOUR NOTES
• 10% banked rent increases available.
• Big loss to lease and 100% occupancy average for last 5 years
• Ownership isn’t passing gas/water/sewer to tenants like the comparables are
• 50% of units have new windows and slides.
• New washer/dryers throughout laundry facilities
• New gas systems throughout
• Roofs in good shape. Didn’t notice big capex items.
• 20 units that burnt down will have permits in two weeks. We have architectural plans.
• $1,223,501 T12 NOI. Bids start at $19m. Ask is $21m.

INVESTMENT HIGHLIGHTS

• $283,524 of Immediate Loss-to-Lease Opportunity
  
• Transferable Banked Rent Increases Under Prince George’s County Rent Stabilization Regulations
  
• Approved Plans to Rebuild 20 Fire-Damaged Units
  
• Rare Opportunity to Deliver New Construction Units Within an Existing Stabilized Community
  
• Less Than 1.7 Miles from New Carrollton Metro, MARC, Amtrak & Future Purple Line
  
• Located Within One of Prince George’s County’s Largest Transit-Oriented Redevelopment Corridors

INVESTMENT OVERVIEW

Ideal Realty Group is pleased to present Lilly Gardens, a 122-unit apartment community located in Lanham, Maryland. The Property offers investors a unique combination of immediate cash flow growth, rent regulation upside, and future unit expansion within one of the Washington metropolitan area’s most active redevelopment corridors.

Lilly Gardens presents three distinct avenues for revenue growth. First, in-place rents remain meaningfully below market, creating an immediate loss-to-lease opportunity totaling approximately $283,524 annually. Second, ownership has preserved banked rent increases under Prince George’s County’s Permanent Rent Stabilization and Protection Act, allowing a purchaser to capture additional rent growth beyond the standard annual cap. Third, approved plans are in place to rebuild 20 apartment units lost to a recent fire, creating the opportunity to return the Property to its full 122-unit income-producing potential while introducing newly constructed units into the community.

The Property benefits from exceptional regional connectivity. Located less than 1.7 miles from the New Carrollton Metro Station, residents enjoy access to Metrorail, MARC, Amtrak, and the future Purple Line. The surrounding area is undergoing significant investment driven by the 2.3 million-square-foot New Carrollton redevelopment project, positioning Lilly Gardens to benefit from continued population growth, employment expansion, and rising housing demand throughout the corridor.