Case Study

Multifamily

Multifamily Property in Hampton, VA Improves NOI by $11K+

Hampton, VA

Image of Multifamily property for Multifamily Property in Hampton, VA  Improves NOI by $11K+

$185,000 in Added Property Value

Solutions Found:

Flood Expert Survey

LOMA

Solutions Value: Over $11K annual premium savings, adding $185,000 property value

NFE Solutions: FES; LOMA

A client purchasing a multifamily property in Hampton, VA, sought to reduce expenses associated with flood insurance premiums and avoid potential excess requirements from their lender. To explore potential solutions, the client reached out to National Flood Experts (NFE).

NFE's team immediately began working on the client's request. They conducted a comprehensive analysis of the property and its surroundings, paying close attention to topography, elevation, and existing flood zone information. Through their initial desktop engineering review, NFE identified several buildings that qualified for removal from the flood zone. Additionally, the review indicated a high likelihood that more buildings could qualify after collecting on-site data by performing a Flood Expert Survey (FES).

Prior to closing on the property, NFE's solutions played a crucial role in facilitating the removal of lender mandates for many of the buildings. Furthermore, even more buildings qualified for removal from the flood zone post-closing, resulting in a significant improvement to the Net Operating Income (NOI) by over $11,000. Additionally, the property value increased by an estimated $185,000.

Thanks to NFE's expertise and commitment to providing quality service, the client achieved their financial goals and experienced tangible benefits. The reduced flood insurance premiums and increased property value placed the client's assets in a better financial position.

NFE takes great pride in assisting our clients in achieving their financial objectives. The successful outcome of this case study serves as a testament to the value NFE brings to the table through specialized engineering and consulting services. By delivering innovative solutions and delivering exceptional results, we continue to strive to establish ourselves as a trusted partner for clients seeking to navigate flood insurance challenges and improve their bottom line.

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