Executive Summary

The Residence at 850 presents investors with a rare opportunity to acquire a newly constructed, fully stabilized Class A multifamily asset in the heart of Cape Cod. Completed in 2023, featuring (44) two-bedroom units and (9) one-bedroom units, this luxury rental community has now been operating through nearly two full years of stabilization, offering a true trailing-12-month snapshot of income and expenses. The property has matured into a high-performing, cash-flowing investment in one of Massachusetts’ most supply-constrained and high demand rental markets. Additionally, there is future upside in further bringing rents to market level and in continuing to increase management efficiencies.

Strategically located along Massachusetts Route 28 in Hyannis— Barnstable County’s largest and most dynamic village—the Residence at 850 benefits from excellent regional connectivity and proximity to the Cape Cod Gateway Airport, vibrant commercial corridors, and newly emerging development. As Hyannis continues to revitalize, driven by public-private investments and a growing local economy, this asset is ideally positioned to capitalize on long-term rental demand and rising housing costs.

 

Investment Highlights

• Fully Stabilized, Cash-Flowing Asset – Delivered in 2023 and now with nearly two years of operational performance, the property offers a true trailing 12-month look at income and expenses, offers predictable cash flow and reduced lease-up risk. Additionally, there is future upside in rent levels and operational efficiencies.
• Rare Asset in Undersupplied Cape Cod Market – Cape Cod has long suffered from an acute housing shortage, with historically low apartment availability and consistent resistance to new development. This imbalance between supply and demand has driven rents upward and created ideal conditions for sustained multifamily performance. Residence at 850 is a rare large-scale rental asset in this undersupplied region.
• Luxury Class A Building – This best-in-class apartment community of its size in Barnstable County, featuring luxury unit finishes, gourmet kitchens, and full appliance packages including in-unit laundry. Amenities cater to high-end renters seeking convenience, quality, and lifestyle in a market with limited alternatives
• High Barriers to Homeownership & Development – Cape Cod’s rising home values with a median home price of $699,710 in Barnstable County as of January 2025, coupled with limited housing inventory, and significant pushback on new multifamily developments create strong demand for high-quality rental housing. These structural barriers make the Residence at 850 an exceptionally strong long-term investment.
• Located Along Massachusetts Route 28 – Prominent frontage on Route 28 ensures excellent visibility and access across the Cape. Residents benefit from proximity to shopping, dining, airports, healthcare, and employment centers.
• Hyannis Revitalization & Growth – As Hyannis undergoes major public and private reinvestment, the Residence at 850 is positioned at the forefront of the village’s resurgence. The surrounding area is evolving into a more vibrant, walkable, and amenity-rich environment, enhancing long-term tenant retention and rent growth.