Case Study

Multifamily

Maximizing Property Value via Letter of Map Amendment

Longview, TX

Image of Multifamily property for Maximizing Property Value via Letter of Map Amendment

Flood Insurance Mandates Removed

Solutions Found:

LOMA

Solutions Value: Flood Insurance Mandates Removed & Property Value Improved

NFE Solution: LOMA

A cold call from National Flood Experts paid off big for this Client, a nationally recognized purchaser and operator of multifamily complexes throughout the Southern and Southeastern United States.

Based on past successful projects and area data, NFE's in-house research team pre-qualified the Client's Longview, TX, multifamily property as having a high likelihood of cost-saving solutions. NFE contacted the property owner to share our services and what we thought may be possible for their property.

Although this particular property did not carry a loan and therefore wasn't mandated to carry flood insurance, the owner recognized the potential to significantly increase the property value if any of the buildings qualified for removal from the Special Flood Hazard Area (SFHA) via Letter of Map Amendments (LOMA). The owner was excited to proceed with the complimentary desktop engineering review to see what might be possible.

NFE's engineering team reviewed property elevation certificates provided by the Client against in-house data and confirmed that four of the five buildings qualified for removal from the SFHA. NFE's team obtained all required sign-offs, communicated with the City of Longview's floodplain administrator, and submitted the final LOMR-F application to FEMA for approval. Thanks to the engineering team's expertise, the application was approved in only 31 days!

The approved LOMR-F officially reclassified the four buildings into an X zone. This solution unquestionably adds significant property value, a major asset, should the current owners decide to refinance or sell the property.

View Other Case Studies

Image of Multifamily property for Commercial Development Firm Adds $111K in Property Value

$111,000 in Added Property Value

Commercial Development Firm Adds $111K in Property Value - Tucson, AZ

In Tucson, AZ, a client had $5,500 per year in flood insurance expenses on two apartment buildings in the AE flood zone. SPOILER ALERT: Not anymore.

Image of Multifamily property for NJ & NY Commercial Real Estate Developer Saves $105K+

$1.75MM+ in Added Property Value

NJ & NY Commercial Real Estate Developer Saves $105K+ - Multiple, NJ

In this case study, a New Jersey-based Commercial Real Estate Developer partnered with National Flood Experts (NFE) to reduce annual flood premiums and increase the property value of their multifamily properties in NJ & NY. NFE successfully removed flood insurance mandates from 15 buildings, resulting in approximately $105,000 in annual cost savings and over $1.75 million in increased property value.

Image of Land property for Unlocking Potential: Transforming a Flood-Zone Property into a Lucrative Investment Opportunity

NFE Transforms Land Investment

Unlocking Potential: Transforming a Flood-Zone Property into a Lucrative Investment Opportunity - Buda, TX

Through meticulous assessment and expertise, National Flood Experts successfully confirmed the removal of 20.1 acres from the flood zone, effectively doubling the developable acreage of a parcel in Buda, TX. This game-changing solution not only increased the property value but also played a pivotal role in broadening the buyer pool.